The Manufacturers Life Insurance Company Purchases 23,319 Shares of OR Royalties Inc. $OR

The Manufacturers Life Insurance Company raised its position in OR Royalties Inc. (NYSE:OR) by 3.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 635,500 shares of the basic materials company’s stock after purchasing an additional 23,319 shares during the period. The Manufacturers Life Insurance Company’s holdings in OR Royalties were worth $24,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. State of Wyoming acquired a new stake in shares of OR Royalties during the first quarter worth $28,000. FIL Ltd bought a new stake in shares of OR Royalties in the fourth quarter valued at about $29,000. Banque Cantonale Vaudoise acquired a new position in shares of OR Royalties in the first quarter valued at about $37,000. Assetmark Inc. acquired a new position in shares of OR Royalties in the fourth quarter valued at about $36,000. Finally, 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. Institutional investors own 68.52% of the company’s stock.

Analyst Ratings Changes

OR has been the subject of several analyst reports. Weiss Ratings cut shares of OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a research note 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. Scotiabank lowered their target price on shares of OR Royalties from $51.00 to $42.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Royal Bank Of Canada lowered their target price on shares of OR Royalties from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Finally, Wall Street Zen downgraded shares of OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, OR Royalties presently has an average rating of “Hold” and an average price target of $40.50.

OR Royalties Stock Down 3.1%

OR stock opened at $29.74 on Friday. OR Royalties Inc. has a 52 week low of $27.54 and a 52 week high of $48.06. The business has a 50-day simple moving average of $32.15 and a 200 day simple moving average of $37.57. The company has a market cap of $5.57 billion, a PE ratio of 22.19 and a beta of 0.74.

OR Royalties (NYSE:OR) last announced its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. The firm had revenue of $102.83 million for the quarter, compared to the consensus estimate of $103.27 million. On average, analysts anticipate that OR Royalties Inc. will post 1.27 EPS for the current fiscal year.

OR Royalties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.065 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.26 annualized dividend and a dividend yield of 0.9%. This is a positive change from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s dividend payout ratio (DPR) is 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.