Weiss Asset Management LP Has $315,000 Stock Position in OR Royalties Inc. $OR

Weiss Asset Management LP reduced its position in shares of OR Royalties Inc. (NYSE:OR) by 84.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,274 shares of the basic materials company’s stock after selling 43,446 shares during the period. Weiss Asset Management LP’s holdings in OR Royalties were worth $315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State of Wyoming acquired a new stake in shares of OR Royalties in the 1st quarter valued at $28,000. FIL Ltd bought a new position in shares of OR Royalties in the 4th quarter valued at $29,000. Banque Cantonale Vaudoise acquired a new position in shares of OR Royalties during the 1st quarter worth $37,000. Assetmark Inc. acquired a new position in shares of OR Royalties during the 4th quarter worth $36,000. Finally, Allworth Financial LP lifted its position in shares of 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 buying an additional 384 shares during the last quarter. 68.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on OR. Scotiabank reduced their price objective on OR Royalties from $51.00 to $42.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Zacks Research downgraded OR Royalties from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Royal Bank Of Canada lowered their target price on OR Royalties from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Weiss Ratings cut shares of OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Finally, Wall Street Zen downgraded shares of OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, OR Royalties currently has a consensus rating of “Hold” and a consensus target price of $40.50.

OR Royalties Stock Performance

Shares of NYSE:OR opened at $29.44 on Wednesday. The company has a fifty day moving average of $32.49 and a 200-day moving average of $37.74. The company has a market capitalization of $5.51 billion, a PE ratio of 21.97 and a beta of 0.74. OR Royalties Inc. has a 52-week low of $27.40 and a 52-week high of $48.06.

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

OR Royalties Increases Dividend

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

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.