OR Royalties Inc. $OR Stock Position Trimmed by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in shares of OR Royalties Inc. (NYSE:OR) by 43.4% in the first quarter, HoldingsChannel reports. The firm owned 751,690 shares of the basic materials company’s stock after selling 575,988 shares during the period. Principal Financial Group Inc.’s holdings in OR Royalties were worth $28,531,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of OR. FIL Ltd acquired a new stake in shares of OR Royalties in the fourth quarter valued at approximately $29,000. Assetmark Inc. acquired a new position in shares of OR Royalties during the fourth quarter worth approximately $36,000. Banque Cantonale Vaudoise acquired a new position in shares of OR Royalties during the first quarter worth approximately $37,000. Allworth Financial LP grew its holdings in OR Royalties by 20.0% in 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 in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in OR Royalties in the 1st quarter worth approximately $204,000. Institutional investors own 68.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OR. Weiss Ratings cut OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 4th. Jefferies Financial Group reduced their price target on OR Royalties from $40.00 to $34.00 and set a “hold” rating for the company in a research report on Monday, July 6th. Zacks Research cut 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 price target on OR Royalties from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Finally, Wall Street Zen cut 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, four have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $40.50.

OR Royalties Price Performance

NYSE OR opened at $28.25 on Monday. OR Royalties Inc. has a 12 month low of $27.07 and a 12 month high of $48.06. The company has a market capitalization of $5.29 billion, a P/E ratio of 21.08 and a beta of 0.74. The company’s 50 day simple moving average is $33.72 and its 200 day simple moving average is $38.09.

OR Royalties (NYSE:OR) last issued its earnings results on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $102.83 million during the quarter, compared to analysts’ expectations of $103.27 million. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. On average, analysts anticipate that OR Royalties Inc. will post 1.34 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. Stockholders of record on Tuesday, June 30th were given 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 dividend yield of 0.9%. OR Royalties’s payout ratio is currently 18.66%.

OR Royalties Company 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.