The Manufacturers Life Insurance Company Has $24.18 Million Stock Holdings in OR Royalties Inc. $OR

The Manufacturers Life Insurance Company boosted its stake in shares of OR Royalties Inc. (NYSE:OR) by 3.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 635,500 shares of the basic materials company’s stock after buying an additional 23,319 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.34% of OR Royalties worth $24,176,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of OR. Vanguard Group Inc. boosted its holdings in shares of OR Royalties by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 7,847,015 shares of the basic materials company’s stock valued at $277,965,000 after buying an additional 167,970 shares during the period. Picton Mahoney Asset Management raised its holdings in shares of OR Royalties by 1.6% during the fourth quarter. Picton Mahoney Asset Management now owns 3,160,518 shares of the basic materials company’s stock worth $112,114,000 after acquiring an additional 50,882 shares during the period. Elliott Investment Management L.P. raised its holdings in shares of OR Royalties by 42.7% during the fourth quarter. Elliott Investment Management L.P. now owns 3,111,000 shares of the basic materials company’s stock worth $110,098,000 after acquiring an additional 930,849 shares during the period. Norges Bank bought a new stake in OR Royalties in the 4th quarter valued at $88,597,000. Finally, Tidal Investments LLC lifted its position in OR Royalties by 25.4% in the 3rd quarter. Tidal Investments LLC now owns 2,347,760 shares of the basic materials company’s stock valued at $94,098,000 after acquiring an additional 474,840 shares in the last quarter. Institutional investors own 68.52% of the company’s stock.

Analysts Set New Price Targets

OR has been the subject of several recent research reports. Wall Street Zen cut shares of OR Royalties from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Jefferies Financial Group lowered their price target on shares of OR Royalties from $40.00 to $34.00 and set a “hold” rating on the stock in a research note on Monday, July 6th. Scotiabank lowered their price target on shares of 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 cut shares of OR Royalties from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, Weiss Ratings cut OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 24th. One 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.50.

OR Royalties Stock Down 3.1%

OR opened at $29.74 on Friday. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 22.19 and a beta of 0.74. OR Royalties Inc. has a 12-month low of $27.54 and a 12-month high of $48.06. The business has a 50 day moving average of $32.15 and a 200-day moving average of $37.57.

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

OR Royalties Increases Dividend

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