Manning & Napier Advisors LLC Raises Stock Holdings in OR Royalties Inc. $OR

Manning & Napier Advisors LLC raised its stake in OR Royalties Inc. (NYSE:OR) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 389,844 shares of the basic materials company’s stock after buying an additional 15,730 shares during the quarter. Manning & Napier Advisors LLC owned about 0.21% of OR Royalties worth $13,815,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Navellier & Associates Inc. raised its stake in shares of OR Royalties by 24.0% in the 4th quarter. Navellier & Associates Inc. now owns 44,902 shares of the basic materials company’s stock valued at $1,589,000 after acquiring an additional 8,695 shares during the period. Principal Financial Group Inc. boosted its position in shares of OR Royalties by 18.8% during the 4th quarter. Principal Financial Group Inc. now owns 1,327,678 shares of the basic materials company’s stock worth $47,062,000 after purchasing an additional 209,868 shares during the period. PKO Investment Management Joint Stock Co boosted its position in shares of OR Royalties by 8.4% during the 4th quarter. PKO Investment Management Joint Stock Co now owns 64,800 shares of the basic materials company’s stock worth $2,300,000 after purchasing an additional 5,000 shares during the period. Pictet Asset Management Holding SA increased its holdings in OR Royalties by 7.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 34,459 shares of the basic materials company’s stock valued at $1,222,000 after purchasing an additional 2,303 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in OR Royalties by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 7,847,015 shares of the basic materials company’s stock valued at $277,965,000 after purchasing an additional 167,970 shares during the last quarter. 68.52% of the stock is currently owned by institutional investors and hedge funds.

OR Royalties Price Performance

Shares of NYSE OR opened at $38.45 on Friday. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 28.69 and a beta of 0.71. The business has a 50-day moving average of $39.87 and a two-hundred day moving average of $38.14. OR Royalties Inc. has a 1 year low of $22.40 and a 1 year high of $48.06.

OR Royalties (NYSE:OR) last released its quarterly earnings data 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 business had revenue of $102.83 million for the quarter, compared to the consensus estimate of $103.27 million. As a group, equities research analysts expect that OR Royalties Inc. will post 1.36 earnings per share for the current year.

OR Royalties Increases Dividend

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

Analysts Set New Price Targets

OR has been the topic of a number of research reports. Zacks Research cut OR Royalties from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. TD Securities reaffirmed a “hold” rating on shares of OR Royalties in a research note on Monday, February 23rd. Wall Street Zen downgraded OR Royalties from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 11th. Royal Bank Of Canada reissued an “outperform” rating and set a $56.00 target price on shares of OR Royalties in a research note on Friday, April 10th. Finally, Scotiabank raised their target price on OR Royalties from $41.00 to $51.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. One research 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.50.

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.