OR Royalties Inc. $OR Shares Acquired by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lifted its stake in OR Royalties Inc. (NYSE:OR) by 4.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 389,844 shares of the basic materials company’s stock after acquiring an additional 15,730 shares during the period. Manning & Napier Advisors LLC’s holdings in OR Royalties were worth $13,815,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OR. Assetmark Inc. acquired a new position in OR Royalties in the fourth quarter valued at $36,000. Caitlin John LLC purchased a new position in shares of OR Royalties during the third quarter worth about $78,000. Eagle Global Advisors LLC acquired a new stake in shares of OR Royalties during the third quarter worth about $206,000. Merit Financial Group LLC acquired a new stake in shares of OR Royalties during the third quarter worth about $215,000. Finally, Flow Traders U.S. LLC purchased a new stake in shares of OR Royalties in the 3rd quarter valued at about $217,000. 68.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on OR. Scotiabank raised their price target on OR Royalties from $41.00 to $51.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. TD Securities reiterated a “hold” rating on shares of OR Royalties in a research note on Monday, February 23rd. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of OR Royalties in a research note on Wednesday, February 4th. Zacks Research downgraded OR Royalties from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Finally, Wall Street Zen lowered shares of OR Royalties from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, OR Royalties presently has an average rating of “Moderate Buy” and an average target price of $46.50.

OR Royalties Price Performance

Shares of NYSE:OR opened at $38.45 on Friday. The business’s 50 day simple moving average is $39.87 and its 200-day simple moving average is $38.14. The firm has a market capitalization of $7.21 billion, a price-to-earnings ratio of 28.69 and a beta of 0.71. OR Royalties Inc. has a 12 month low of $22.40 and a 12 month high of $48.06.

OR Royalties (NYSE:OR) last released its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.06. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%.The firm had revenue of $102.83 million during the quarter, compared to the consensus estimate of $103.27 million. On average, equities analysts anticipate that OR Royalties Inc. will post 1.36 earnings per share for the current year.

OR Royalties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 0.7%. This is a positive change from OR Royalties’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, June 30th. OR Royalties’s dividend payout ratio is currently 16.42%.

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.