OR Royalties Inc. $OR Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its stake in shares of OR Royalties Inc. (NYSE:OR) by 14.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 158,539 shares of the basic materials company’s stock after selling 25,780 shares during the quarter. Gabelli Funds LLC’s holdings in OR Royalties were worth $6,028,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. State of Wyoming acquired a new stake in shares of OR Royalties in the 1st quarter valued at about $28,000. FIL Ltd bought a new position in shares of OR Royalties during the fourth quarter worth about $29,000. Assetmark Inc. acquired a new position in OR Royalties in the fourth quarter worth about $36,000. Banque Cantonale Vaudoise acquired a new position in OR Royalties in the first quarter worth about $37,000. Finally, Allworth Financial LP increased its holdings in 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 buying an additional 384 shares during the last quarter. 68.52% of the stock is owned by institutional investors and hedge funds.

OR Royalties Stock Up 1.1%

Shares of NYSE OR opened at $29.53 on Tuesday. The firm’s 50-day moving average price is $32.61 and its two-hundred day moving average price is $37.81. OR Royalties Inc. has a 52-week low of $27.40 and a 52-week high of $48.06. The stock has a market capitalization of $5.53 billion, a P/E ratio of 22.04 and a beta of 0.74.

OR Royalties (NYSE:OR) last posted its earnings results on Wednesday, May 6th. The basic materials company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.34 by $0.06. The company had revenue of $102.83 million during the quarter, compared to analyst estimates of $103.27 million. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%. As a group, equities research analysts expect that OR Royalties Inc. will post 1.27 earnings per share for the current year.

OR Royalties Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.9%. This is an increase from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s payout ratio is presently 18.66%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Royal Bank Of Canada cut their price objective on OR Royalties from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Wall Street Zen lowered OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings downgraded OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Jefferies Financial Group dropped their price target on OR Royalties from $40.00 to $34.00 and set a “hold” rating on the stock in a research report on Monday, July 6th. Finally, Scotiabank reduced their price objective on OR Royalties from $51.00 to $42.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.50.

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.