Montrusco Bolton Investments Inc. Takes Position in OR Royalties Inc. $OR

Montrusco Bolton Investments Inc. purchased a new stake in shares of OR Royalties Inc. (NYSE:OR) in the 1st quarter, Holdings Channel reports. The fund purchased 254,620 shares of the basic materials company’s stock, valued at approximately $9,664,000.

Other hedge funds also recently added to or reduced their stakes in the company. FIL Ltd bought a new position in OR Royalties in the 4th quarter valued at approximately $29,000. Assetmark Inc. bought a new stake in shares of OR Royalties in the 4th quarter worth $36,000. Banque Cantonale Vaudoise bought a new stake in shares of OR Royalties in the 1st quarter worth $37,000. Allworth Financial LP raised 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 worth $82,000 after purchasing an additional 384 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in OR Royalties in the 4th quarter worth about $206,000. 68.52% of the stock is currently owned by hedge funds and other institutional investors.

OR Royalties Stock Performance

Shares of NYSE OR opened at $31.31 on Friday. The business’s 50 day moving average price is $35.50 and its 200-day moving average price is $38.58. OR Royalties Inc. has a fifty-two week low of $25.30 and a fifty-two week high of $48.06. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 23.36 and a beta of 0.74.

OR Royalties (NYSE:OR) last issued its 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 business had revenue of $102.83 million for the quarter, compared to analyst estimates of $103.27 million. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. Sell-side analysts predict that OR Royalties Inc. will post 1.4 earnings per share for the current year.

OR Royalties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s dividend payout ratio is currently 19.40%.

Analysts Set New Price Targets

OR has been the topic of several research reports. Royal Bank Of Canada restated an “outperform” rating and issued a $56.00 target price on shares of OR Royalties in a report on Friday, April 10th. Weiss Ratings cut OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 4th. Zacks Research downgraded shares of OR Royalties from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, Wall Street Zen downgraded shares of OR Royalties from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.50.

OR Royalties 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.