Versor Investments LP Purchases New Shares in OR Royalties Inc. $OR

Versor Investments LP purchased a new stake in OR Royalties Inc. (NYSE:OR) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 13,700 shares of the basic materials company’s stock, valued at approximately $485,000.

Several other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position in shares of OR Royalties by 152.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,256,583 shares of the basic materials company’s stock valued at $26,539,000 after acquiring an additional 758,815 shares during the period. Geode Capital Management LLC lifted its position in shares of OR Royalties by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 92,267 shares of the basic materials company’s stock valued at $2,384,000 after acquiring an additional 2,459 shares during the period. Cetera Investment Advisers lifted its position in shares of OR Royalties by 3.5% during the 2nd quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company’s stock valued at $337,000 after acquiring an additional 440 shares during the period. JPMorgan Chase & Co. lifted its position in shares of OR Royalties by 58.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 205,176 shares of the basic materials company’s stock valued at $5,275,000 after acquiring an additional 75,596 shares during the period. Finally, Gamco Investors INC. ET AL bought a new stake in shares of OR Royalties during the 2nd quarter valued at $1,051,000. 68.52% of the stock is currently owned by institutional investors.

OR Royalties Stock Down 2.3%

Shares of OR stock opened at $38.30 on Friday. OR Royalties Inc. has a twelve month low of $22.63 and a twelve month high of $48.06. The company has a market cap of $7.18 billion, a P/E ratio of 28.58 and a beta of 0.71. The business has a fifty day simple moving average of $39.14 and a 200 day simple moving average of $38.30.

OR Royalties (NYSE:OR) last announced its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%.The business had revenue of $102.83 million during the quarter, compared to the consensus estimate of $103.27 million. As a group, equities research analysts anticipate that OR Royalties Inc. will post 1.38 earnings per share for the current fiscal year.

OR Royalties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.065 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.26 annualized dividend and a dividend yield of 0.7%. This is an increase from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s dividend payout ratio is currently 16.42%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wall Street Zen downgraded OR Royalties from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 11th. Zacks Research downgraded OR Royalties from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of OR Royalties in a research report on Wednesday, February 4th. TD Securities reiterated a “hold” rating on shares of OR Royalties in a research report on Monday, February 23rd. Finally, Scotiabank upped their target price on OR Royalties from $41.00 to $51.00 and gave the company a “sector perform” rating in a research report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, OR Royalties has a consensus rating of “Moderate Buy” and an average price target of $46.50.

About OR Royalties

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.