Allspring Global Investments Holdings LLC Increases Stock Position in OR Royalties Inc. $OR

Allspring Global Investments Holdings LLC increased its holdings in OR Royalties Inc. (NYSE:OR) by 14.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 323,500 shares of the basic materials company’s stock after acquiring an additional 40,000 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in OR Royalties were worth $12,321,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its stake in OR Royalties by 2.9% during the 1st quarter. Bank of New York Mellon Corp now owns 56,845 shares of the basic materials company’s stock worth $2,161,000 after purchasing an additional 1,589 shares during the period. Verbena Value LP increased its stake in OR Royalties by 85.3% in the first quarter. Verbena Value LP now owns 1,294,900 shares of the basic materials company’s stock valued at $49,232,000 after purchasing an additional 596,000 shares during the period. U S Global Investors Inc. raised its holdings in shares of OR Royalties by 55.8% in the first quarter. U S Global Investors Inc. now owns 534,625 shares of the basic materials company’s stock valued at $20,326,000 after buying an additional 191,380 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of OR Royalties in the first quarter valued at about $204,000. Finally, Cvfg LLC acquired a new stake in shares of OR Royalties during the first quarter worth about $2,295,000. Hedge funds and other institutional investors own 68.52% of the company’s stock.

OR Royalties Stock Up 4.0%

Shares of NYSE:OR opened at $29.17 on Wednesday. OR Royalties Inc. has a fifty-two week low of $27.40 and a fifty-two week high of $48.06. The firm’s 50-day simple moving average is $33.27 and its 200-day simple moving average is $37.99. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 21.77 and a beta of 0.74.

OR Royalties (NYSE:OR) last posted its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.06. The firm had revenue of $102.83 million during the quarter, compared to analysts’ expectations of $103.27 million. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. On average, research analysts forecast that OR Royalties Inc. will post 1.27 EPS for the current year.

OR Royalties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, June 30th. This is a positive change from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s payout ratio is presently 18.66%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OR. Jefferies Financial Group lowered their price target on OR Royalties from $40.00 to $34.00 and set a “hold” rating on the stock in a report on Monday, July 6th. Wall Street Zen cut OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings downgraded OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 4th. Zacks Research lowered OR Royalties from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Finally, Royal Bank Of Canada dropped their target price on OR Royalties from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.50.

OR Royalties Profile

OR Royalties PLC (NYSE: OR) is a closed-ended investment company that specializes in acquiring and managing royalty interests in life science and pharmaceutical products. The company provides capital to biotechnology, specialty pharmaceutical and medical device companies in exchange for a share of future sales revenues. By focusing on royalties secured against marketed products, OR Royalties aims to deliver income and growth potential while minimizing the development and commercialization risks typically associated with direct equity stakes.

The company’s core activities include sourcing royalty transactions, structuring bespoke financing solutions and actively monitoring a diversified portfolio of assets.