Weiss Asset Management LP Sells 43,446 Shares of OR Royalties Inc. $OR

Key Points

• Weiss Asset Management cut its OR Royalties position by 84% in the first quarter, selling 43,446 shares and retaining 8,274 shares valued at approximately $315,000. Institutional investors and hedge funds collectively own 68.52% of the stock.
• Analyst sentiment is mixed but leans toward “Hold,” with an average price target of $40.50. Several firms recently lowered their targets, while ratings range from Strong Buy to Sell.
• OR Royalties reported quarterly EPS of $0.40, beating the $0.34 consensus estimate, and raised its quarterly dividend to $0.065 per share, equivalent to an annualized yield of about 0.9%.

Weiss Asset Management LP trimmed its position in OR Royalties Inc. (NYSE:OR - Free Report) by 84.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,274 shares of the basic materials company's stock after selling 43,446 shares during the quarter. Weiss Asset Management LP's holdings in OR Royalties were worth $315,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC lifted its holdings in shares of OR Royalties by 4.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 6,254 shares of the basic materials company's stock worth $221,000 after buying an additional 249 shares in the last quarter. FCA Corp TX boosted its position 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 valued at $1,507,000 after acquiring an additional 330 shares during the period. Wells Fargo & Company MN grew its stake in shares of OR Royalties by 6.2% in the fourth quarter. Wells Fargo & Company MN now owns 5,901 shares of the basic materials company's stock valued at $209,000 after acquiring an additional 346 shares in the last quarter. Allworth Financial LP grew its stake in shares of OR Royalties by 20.0% in the fourth quarter. Allworth Financial LP now owns 2,305 shares of the basic materials company's stock valued at $82,000 after acquiring an additional 384 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of OR Royalties by 3.5% in the second 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 in the last quarter. 68.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OR shares. Weiss Ratings lowered shares of OR Royalties from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday. Royal Bank Of Canada cut their price objective on shares of OR Royalties from $50.00 to $45.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. Zacks Research lowered shares of OR Royalties from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Jefferies Financial Group lowered 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. Finally, Scotiabank dropped their price target 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. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $40.50.

OR Royalties Stock Performance

NYSE:OR opened at $29.44 on Wednesday. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 21.97 and a beta of 0.74. OR Royalties Inc. has a fifty-two week low of $27.40 and a fifty-two week high of $48.06. The stock has a fifty day moving average price of $32.49 and a 200-day moving average price of $37.74.

OR Royalties (NYSE:OR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.06. The company 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%. Research analysts predict that OR Royalties Inc. will post 1.27 EPS for the current fiscal year.

OR Royalties Increases Dividend

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

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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