C WorldWide Group Holding A S Reduces Stock Holdings in OR Royalties Inc. $OR

C WorldWide Group Holding A S lowered its holdings in shares of OR Royalties Inc. (NYSE:OR) by 31.2% in the second quarter, HoldingsChannel.com reports. The fund owned 75,522 shares of the basic materials company’s stock after selling 34,281 shares during the quarter. C WorldWide Group Holding A S’s holdings in OR Royalties were worth $2,389,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State of Wyoming acquired a new stake in OR Royalties during the 1st quarter valued at $28,000. FIL Ltd purchased a new stake in shares of OR Royalties in the fourth quarter valued at $29,000. Banque Cantonale Vaudoise acquired a new stake in shares of OR Royalties during the first quarter valued at $37,000. Grove Bank & Trust purchased a new stake in OR Royalties during the 2nd quarter worth about $32,000. Finally, Allworth Financial LP raised its stake in OR Royalties by 20.0% in the 4th 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 during the last quarter. 68.52% of the stock is owned by hedge funds and other institutional investors.

OR Royalties Trading Down 1.2%

Shares of OR stock opened at $36.88 on Wednesday. The firm’s 50-day simple moving average is $32.55 and its 200-day simple moving average is $36.16. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.28 and a quick ratio of 2.28. OR Royalties Inc. has a 1-year low of $27.54 and a 1-year high of $48.06. The firm has a market cap of $6.87 billion, a P/E ratio of 24.59 and a beta of 0.80.

OR Royalties (NYSE:OR) last released its earnings results on Wednesday, August 5th. The basic materials company reported $0.32 earnings per share (EPS) 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 firm had revenue of $97.82 million during the quarter, compared to the consensus estimate of $97.93 million. As a group, equities analysts forecast that OR Royalties Inc. will post 1.25 EPS for the current year.

OR Royalties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders 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 dividend yield of 0.7%. OR Royalties’s payout ratio is currently 16.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OR. Weiss Ratings downgraded shares of OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 24th. Zacks Research downgraded OR Royalties from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Wall Street Zen lowered OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Jefferies Financial Group decreased their price objective on 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 lowered their price objective on 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 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 issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.