Bank of New York Mellon Corp Invests $1.57 Million in OR Royalties Inc. $OR

Bank of New York Mellon Corp bought a new stake in OR Royalties Inc. (NYSE:OR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 49,715 shares of the basic materials company's stock, valued at approximately $1,572,000.

Several other large investors have also modified their holdings of OR. Goldman Sachs Group Inc. increased its holdings in 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 valued at $26,539,000 after buying an additional 758,815 shares during the last quarter. Geode Capital Management LLC increased its holdings 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 last quarter. Cetera Investment Advisers increased its holdings in shares of OR Royalties by 3.5% in 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 during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of OR Royalties by 58.3% in 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 during the last quarter. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of OR Royalties during the 2nd quarter valued at approximately $1,051,000. Institutional investors own 68.52% of the company's stock.

OR Royalties Trading Up 0.8%

Shares of NYSE OR opened at $37.19 on Thursday. The company has a market cap of $6.93 billion, a price-to-earnings ratio of 24.79 and a beta of 0.80. OR Royalties Inc. has a 12-month low of $27.54 and a 12-month high of $48.06. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.14. The stock's 50 day simple moving average is $32.66 and its 200 day simple moving average is $36.13.

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

OR Royalties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.065 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.26 annualized dividend and a dividend yield of 0.7%. OR Royalties's payout ratio is 16.67%.

Analyst Ratings Changes

Several brokerages recently issued reports on OR. Wall Street Zen cut OR Royalties from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. Weiss Ratings lowered shares of OR Royalties from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, July 24th. Jefferies Financial Group dropped their target price on shares of OR Royalties from $40.00 to $34.00 and set a "hold" rating on the stock in a report on Monday, July 6th. Scotiabank reduced 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 report on Tuesday, July 14th. Finally, Zacks Research lowered shares of OR Royalties from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. 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 stock. According to MarketBeat.com, OR Royalties presently has an average rating of "Hold" and a consensus target price of $40.50.

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.

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