Arrowstreet Capital Limited Partnership Has $171.18 Million Position in OR Royalties Inc. $OR

Arrowstreet Capital Limited Partnership reduced its position in shares of OR Royalties Inc. (NYSE:OR) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,834,084 shares of the basic materials company’s stock after selling 75,324 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in OR Royalties were worth $171,184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in OR. Assetmark Inc. bought a new position in OR Royalties during the 4th quarter worth $36,000. Caitlin John LLC bought a new position in OR Royalties during the 3rd quarter worth $78,000. Allworth Financial LP increased its stake in OR Royalties by 20.0% during the 4th quarter. Allworth Financial LP now owns 2,305 shares of the basic materials company’s stock worth $82,000 after acquiring an additional 384 shares during the period. Wells Fargo & Company MN increased its stake in OR Royalties by 6.2% during the 4th quarter. Wells Fargo & Company MN now owns 5,901 shares of the basic materials company’s stock worth $209,000 after acquiring an additional 346 shares during the period. Finally, Merit Financial Group LLC bought a new position in OR Royalties during the 3rd quarter worth $215,000. Institutional investors own 68.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on OR. Wall Street Zen lowered OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. TD Securities reiterated a “hold” rating on shares of OR Royalties in a research note on Monday, February 23rd. Zacks Research lowered OR Royalties from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $56.00 price target on shares of OR Royalties in a research note on Friday, April 10th. Finally, Weiss Ratings lowered OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

OR Royalties Trading Down 0.0%

Shares of OR opened at $33.83 on Monday. The company has a market capitalization of $6.34 billion, a PE ratio of 25.24 and a beta of 0.70. OR Royalties Inc. has a 12 month low of $24.76 and a 12 month high of $48.06. The stock’s 50-day moving average price is $37.67 and its two-hundred day moving average price is $38.75.

OR Royalties (NYSE:OR) last announced its earnings results on Wednesday, May 6th. The basic materials company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.34 by $0.06. The firm had revenue of $102.83 million for the quarter, compared to the consensus estimate of $103.27 million. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%. Equities research analysts predict that OR Royalties Inc. will post 1.4 EPS for the current fiscal year.

OR Royalties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a boost from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s dividend payout ratio (DPR) is presently 16.42%.

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.