Arrowstreet Capital Limited Partnership Cuts Stock Holdings in OR Royalties Inc. $OR

Arrowstreet Capital Limited Partnership lowered its position in OR Royalties Inc. (NYSE:OR) by 23.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,676,458 shares of the basic materials company’s stock after selling 1,157,626 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in OR Royalties were worth $139,940,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. State of Wyoming purchased a new position in OR Royalties in the first quarter valued at about $28,000. FIL Ltd purchased a new position in shares of OR Royalties in the fourth quarter worth about $29,000. Banque Cantonale Vaudoise bought a new position in OR Royalties in the 1st quarter worth approximately $37,000. Assetmark Inc. purchased a new stake in shares of OR Royalties in the fourth quarter worth about $36,000. Finally, Allworth Financial LP lifted its stake in OR Royalties by 20.0% in the 4th quarter. Allworth Financial LP now owns 2,305 shares of the basic materials company’s stock worth $82,000 after purchasing an additional 384 shares in the last quarter. Institutional investors own 68.52% of the company’s stock.

Wall Street Analyst Weigh In

OR has been the topic of several research analyst reports. Royal Bank Of Canada decreased their price objective on shares of OR Royalties from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Zacks Research cut shares of OR Royalties from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Wall Street Zen lowered OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Scotiabank reduced their price target on shares of OR Royalties from $51.00 to $42.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Finally, Jefferies Financial Group lowered their price objective on shares of OR Royalties from $40.00 to $34.00 and set a “hold” rating on the stock in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $40.50.

OR Royalties Price Performance

NYSE:OR opened at $29.17 on Friday. The business has a 50 day simple moving average of $32.75 and a 200-day simple moving average of $37.84. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 21.77 and a beta of 0.74. OR Royalties Inc. has a 1 year low of $27.40 and a 1 year high of $48.06.

OR Royalties (NYSE:OR) last issued its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.34 by $0.06. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. The company had revenue of $102.83 million for the quarter, compared to the consensus estimate of $103.27 million. As a group, analysts expect that OR Royalties Inc. will post 1.27 earnings per share for the current fiscal year.

OR Royalties Increases Dividend

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

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.