OR Royalties Inc. $OR Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC decreased its holdings in OR Royalties Inc. (NYSE:OR) by 14.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 158,539 shares of the basic materials company’s stock after selling 25,780 shares during the period. Gabelli Funds LLC owned approximately 0.08% of OR Royalties worth $6,028,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its position in shares of OR Royalties by 152.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,256,583 shares of the basic materials company’s stock worth $26,539,000 after acquiring an additional 758,815 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of OR Royalties by 2.7% in 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 holdings 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 in the last quarter. JPMorgan Chase & Co. lifted its holdings 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 in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new position in shares of OR Royalties during the 2nd quarter valued at $1,051,000. 68.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

OR Royalties Price Performance

OR Royalties stock opened at $29.53 on Tuesday. OR Royalties Inc. has a 12-month low of $27.40 and a 12-month high of $48.06. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 22.04 and a beta of 0.74. The firm’s fifty day moving average price is $32.61 and its 200 day moving average price is $37.81.

OR Royalties (NYSE:OR) last announced its earnings results on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share for the quarter, beating 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 company had revenue of $102.83 million during the quarter, compared to the consensus estimate of $103.27 million. Analysts forecast that OR Royalties Inc. will post 1.27 earnings per share for the current fiscal year.

OR Royalties Increases Dividend

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