Public Employees Retirement System of Ohio Takes Position in OR Royalties Inc. $OR

Key Points

• Public Employees Retirement System of Ohio bought 50,521 shares of OR Royalties in the second quarter, valued at approximately $1.6 million. Institutional investors now own 68.52% of the company.
• OR Royalties reported quarterly earnings of $0.32 per share, slightly above analyst expectations, while revenue of $97.82 million was roughly in line with estimates. Analysts expect full-year EPS of $1.25.
• The company declared a quarterly dividend of $0.065 per share, equivalent to an annualized $0.26 dividend and a 0.7% yield. Analysts maintain an overall “Hold” rating, with an average price target of $40.50 versus the stock’s recent $37.36 price.

Public Employees Retirement System of Ohio purchased a new position in shares of OR Royalties Inc. (NYSE:OR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 50,521 shares of the basic materials company's stock, valued at approximately $1,599,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. FCA Corp TX grew its stake in shares of OR Royalties by 0.8% in the first quarter. FCA Corp TX now owns 39,647 shares of the basic materials company's stock worth $1,507,000 after purchasing an additional 330 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of OR Royalties by 6.2% during the fourth quarter. Wells Fargo & Company MN now owns 5,901 shares of the basic materials company's stock valued at $209,000 after purchasing an additional 346 shares in the last quarter. Allworth Financial LP raised its stake in shares of OR Royalties by 20.0% during the fourth quarter. Allworth Financial LP now owns 2,305 shares of the basic materials company's stock valued at $82,000 after purchasing an additional 384 shares in the last quarter. Cetera Investment Advisers lifted its holdings in OR Royalties by 3.5% in the second quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company's stock worth $337,000 after purchasing an additional 440 shares during the period. Finally, State of Wyoming acquired a new stake in OR Royalties in the first quarter worth about $28,000. Institutional investors own 68.52% of the company's stock.

OR Royalties Price Performance

Shares of OR Royalties stock opened at $37.36 on Tuesday. 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 company's 50-day moving average price is $32.44 and its two-hundred day moving average price is $36.21. OR Royalties Inc. has a 52 week low of $27.54 and a 52 week high of $48.06. The stock has a market cap of $6.96 billion, a PE ratio of 24.91 and a beta of 0.80.

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

OR Royalties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid 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 yield of 0.7%. OR Royalties's dividend payout ratio is currently 16.67%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Scotiabank decreased their target price on shares of OR Royalties from $51.00 to $42.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 14th. Royal Bank Of Canada dropped their price target on shares of OR Royalties from $50.00 to $45.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. 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 decreased 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, Wall Street Zen lowered shares of OR Royalties from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. One equities 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 given a Sell rating to the company's stock. According to MarketBeat.com, OR Royalties currently has an average rating of "Hold" and an average target price of $40.50.

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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