OR Royalties Inc. $OR Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its holdings in OR Royalties Inc. (NYSE:OR) by 14.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 323,500 shares of the basic materials company’s stock after purchasing an additional 40,000 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.17% of OR Royalties worth $12,321,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Linden Thomas Advisory Services LLC raised its stake in shares of OR Royalties by 4.1% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 6,254 shares of the basic materials company’s stock valued at $221,000 after acquiring an additional 249 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in OR Royalties by 6.2% in the fourth quarter. Wells Fargo & Company MN now owns 5,901 shares of the basic materials company’s stock valued at $209,000 after purchasing an additional 346 shares during the period. Allworth Financial LP grew its stake in OR Royalties by 20.0% during the 4th 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 in the last quarter. Cetera Investment Advisers grew its stake in OR Royalties by 3.5% during the 2nd quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company’s stock worth $337,000 after purchasing an additional 440 shares in the last quarter. Finally, FIL Ltd purchased a new stake in OR Royalties during the 4th quarter worth about $29,000. Institutional investors and hedge funds own 68.52% of the company’s stock.

OR Royalties Stock Performance

Shares of NYSE OR opened at $29.17 on Wednesday. The stock’s 50-day simple moving average is $33.27 and its 200-day simple moving average is $37.99. The firm has a market capitalization of $5.46 billion, a PE ratio of 21.77 and a beta of 0.74. OR Royalties Inc. has a fifty-two week low of $27.40 and a fifty-two week high of $48.06.

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

OR Royalties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. This is a positive change from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s dividend payout ratio (DPR) is currently 18.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on OR shares. 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. Wall Street Zen downgraded shares of OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Royal Bank Of Canada lowered their price target on shares of OR Royalties from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Weiss Ratings downgraded shares of OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 4th. Finally, Jefferies Financial Group reduced their price objective on shares of OR Royalties from $40.00 to $34.00 and set a “hold” rating on the stock in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.