Armstrong Advisory Group Inc. Takes Position in BHP Group Limited (NYSE:BHP)

Posted by Defense World Staff on Mar 26th, 2023

Armstrong Advisory Group Inc. bought a new stake in shares of BHP Group Limited (NYSE:BHP – Get Rating) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 606 shares of the mining company’s stock, valued at approximately $38,000.

Several other institutional investors have also made changes to their positions in BHP. Fairfield Bush & CO. boosted its position in shares of BHP Group by 1.1% during the 1st quarter. Fairfield Bush & CO. now owns 19,463 shares of the mining company’s stock valued at $1,504,000 after acquiring an additional 211 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in BHP Group by 70.0% during the 1st quarter. Bank of New York Mellon Corp now owns 79,400 shares of the mining company’s stock valued at $6,134,000 after purchasing an additional 32,699 shares during the last quarter. Private Advisor Group LLC lifted its holdings in BHP Group by 62.9% during the 1st quarter. Private Advisor Group LLC now owns 8,865 shares of the mining company’s stock valued at $685,000 after purchasing an additional 3,424 shares during the last quarter. BlackRock Inc. lifted its holdings in BHP Group by 18.5% during the 1st quarter. BlackRock Inc. now owns 1,821,564 shares of the mining company’s stock valued at $140,716,000 after purchasing an additional 283,915 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its holdings in BHP Group by 71.7% during the 1st quarter. Yousif Capital Management LLC now owns 39,175 shares of the mining company’s stock valued at $3,026,000 after purchasing an additional 16,359 shares during the last quarter. 5.90% of the stock is currently owned by institutional investors and hedge funds.

BHP Group Stock Up 0.9 %

BHP Group stock opened at $58.15 on Friday. The stock has a market capitalization of $85.78 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 3.24 and a beta of 0.89. BHP Group Limited has a twelve month low of $46.92 and a twelve month high of $79.66. The company has a quick ratio of 1.28, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average of $64.73 and a 200-day moving average of $59.23.

BHP Group Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, March 30th. Stockholders of record on Friday, March 10th will be given a $1.80 dividend. This represents a dividend yield of 8.7%. The ex-dividend date is Thursday, March 9th. BHP Group’s dividend payout ratio is presently 62.96%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BHP shares. Barclays cut their price target on shares of BHP Group from GBX 2,700 ($33.16) to GBX 2,550 ($31.32) in a report on Wednesday, February 22nd. UBS Group downgraded shares of BHP Group from a “neutral” rating to a “sell” rating in a research note on Tuesday, December 13th. StockNews.com began coverage on shares of BHP Group in a research note on Thursday, March 16th. They issued a “buy” rating for the company. Berenberg Bank lowered their price target on shares of BHP Group from GBX 3,000 ($36.84) to GBX 2,900 ($35.61) in a research report on Thursday, February 23rd. Finally, CLSA cut shares of BHP Group from an “outperform” rating to an “underperform” rating in a research report on Tuesday, January 17th. Three analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, BHP Group currently has an average rating of “Hold” and an average price target of $2,211.50.

BHP Group Profile

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BHP Group Ltd. engages in the exploration, development, production and processing of iron ore, metallurgical coal and copper. It operates through the following segments: Petroleum, Copper, Iron Ore, and Coal. The Petroleum segment explores, develops and produces oil and gas. The Copper segment refers to the mining of copper, silver, lead, zinc, molybdenum, uranium and gold.