Bank of America Corp DE Acquires 274,486 Shares of OR Royalties Inc. $OR

Key Points

• Bank of America increased its OR Royalties stake by 37.4% in the first quarter, purchasing 274,486 shares to hold 1.01 million shares valued at approximately $38.3 million. Institutional investors collectively own 68.52% of the company.
• Analyst sentiment has weakened, with several firms downgrading the stock or reducing price targets. OR Royalties has an average “Hold” rating and a consensus price target of $40.50.
• OR Royalties reported quarterly EPS of $0.32, slightly above estimates, on revenue of $97.82 million. The company also announced a quarterly dividend of $0.065 per share, representing a $0.26 annualized payout and a 0.8% yield.

Bank of America Corp DE boosted its holdings in OR Royalties Inc. (NYSE:OR - Free Report) by 37.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,008,086 shares of the basic materials company's stock after purchasing an additional 274,486 shares during the period. Bank of America Corp DE owned about 0.54% of OR Royalties worth $38,327,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in 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 acquiring an additional 167,970 shares during the last quarter. Manning & Napier Advisors LLC raised its holdings in shares of OR Royalties by 4.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 389,844 shares of the basic materials company's stock worth $13,815,000 after purchasing an additional 15,730 shares during the period. U S Global Investors Inc. lifted its stake in OR Royalties by 55.8% in the first quarter. U S Global Investors Inc. now owns 534,625 shares of the basic materials company's stock valued at $20,326,000 after purchasing an additional 191,380 shares during the last quarter. Amundi grew its holdings in OR Royalties by 8.4% during the first quarter. Amundi now owns 1,151,071 shares of the basic materials company's stock valued at $43,764,000 after purchasing an additional 89,202 shares during the period. Finally, McAlvany Wealth Management LLC purchased a new stake in OR Royalties in the fourth quarter worth $2,744,000. 68.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OR has been the topic of several recent research reports. Weiss Ratings downgraded shares of OR Royalties from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, July 24th. Zacks Research lowered shares of OR Royalties from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Wall Street Zen cut shares of OR Royalties from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. Jefferies Financial Group cut their price objective on shares of OR Royalties from $40.00 to $34.00 and set a "hold" rating for the company in a report on Monday, July 6th. Finally, Royal Bank Of Canada reduced their price objective on shares of OR Royalties from $50.00 to $45.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, OR Royalties presently has an average rating of "Hold" and a consensus price target of $40.50.

OR Royalties Trading Down 2.6%

Shares of OR opened at $32.83 on Friday. The business's 50-day moving average price is $31.49 and its 200-day moving average price is $36.92. OR Royalties Inc. has a twelve month low of $27.54 and a twelve month high of $48.06. The stock has a market cap of $6.12 billion, a PE ratio of 21.89 and a beta of 0.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.14.

OR Royalties (NYSE:OR - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.01. The company had revenue of $97.82 million during the quarter, compared to analyst estimates of $97.93 million. OR Royalties had a net margin of 78.04% and a return on equity of 16.41%. On average, equities analysts forecast that OR Royalties Inc. will post 1.25 EPS for the current fiscal year.

OR Royalties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.065 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.26 annualized dividend and a yield of 0.8%. OR Royalties's dividend payout ratio is currently 16.67%.

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.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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