OR Royalties Inc. $OR Shares Sold by Principal Financial Group Inc.

Key Points

• Principal Financial Group reduced its stake in OR Royalties by 43.4% in the first quarter, selling 575,988 shares and leaving it with 751,690 shares worth about $28.5 million.
• OR Royalties reported Q1 earnings of $0.40 per share, beating analyst expectations, while revenue came in roughly in line with forecasts at $102.83 million.
• The company recently raised its quarterly dividend to $0.065 per share, and analysts currently view the stock as a Moderate Buy with an average price target of $40.50.

Principal Financial Group Inc. cut its holdings in shares of OR Royalties Inc. (NYSE:OR - Free Report) by 43.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 751,690 shares of the basic materials company's stock after selling 575,988 shares during the quarter. Principal Financial Group Inc. owned approximately 0.40% of OR Royalties worth $28,531,000 at the end of the most recent quarter.

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

OR Royalties Stock Down 0.2%

Shares of OR stock opened at $28.25 on Monday. The company has a market cap of $5.29 billion, a P/E ratio of 21.08 and a beta of 0.74. The business has a 50 day moving average of $33.72 and a two-hundred day moving average of $38.09. OR Royalties Inc. has a 52 week low of $27.07 and a 52 week high of $48.06.

OR Royalties (NYSE:OR - Get Free Report) last announced its quarterly 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 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%. Analysts expect that OR Royalties Inc. will post 1.34 EPS for the current fiscal year.

OR Royalties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, June 30th. This is an increase from OR Royalties's previous quarterly dividend of $0.06. OR Royalties's dividend payout ratio (DPR) is currently 18.66%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of OR Royalties from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, June 4th. Wall Street Zen cut shares of OR Royalties from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Scotiabank decreased their price target on OR Royalties from $51.00 to $42.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 14th. Royal Bank Of Canada lowered their price objective on OR Royalties from $50.00 to $45.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. Finally, Zacks Research cut OR Royalties from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, OR Royalties currently has an average rating of "Moderate Buy" and an average 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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