Arrowstreet Capital Limited Partnership Has $139.94 Million Holdings in OR Royalties Inc. $OR

Arrowstreet Capital Limited Partnership decreased its stake in shares of OR Royalties Inc. (NYSE:OR) by 23.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,676,458 shares of the basic materials company’s stock after selling 1,157,626 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.96% of OR Royalties worth $139,940,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of OR Royalties by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 7,847,015 shares of the basic materials company’s stock worth $277,965,000 after purchasing an additional 167,970 shares in the last quarter. Picton Mahoney Asset Management raised its stake in shares of OR Royalties by 1.6% during the 4th quarter. Picton Mahoney Asset Management now owns 3,160,518 shares of the basic materials company’s stock worth $112,114,000 after purchasing an additional 50,882 shares in the last quarter. Elliott Investment Management L.P. boosted its holdings in shares of OR Royalties by 42.7% in the 4th quarter. Elliott Investment Management L.P. now owns 3,111,000 shares of the basic materials company’s stock valued at $110,098,000 after buying an additional 930,849 shares during the last quarter. Norges Bank acquired a new stake in OR Royalties in the 4th quarter valued at about $88,597,000. Finally, Tidal Investments LLC grew its holdings in OR Royalties by 25.4% during the third quarter. Tidal Investments LLC now owns 2,347,760 shares of the basic materials company’s stock worth $94,098,000 after purchasing an additional 474,840 shares during the period. Institutional investors own 68.52% of the company’s stock.

OR Royalties Price Performance

NYSE OR opened at $29.17 on Friday. OR Royalties Inc. has a one year low of $27.40 and a one year high of $48.06. The stock has a market capitalization of $5.46 billion, a P/E ratio of 21.77 and a beta of 0.74. The business has a 50 day simple moving average of $32.75 and a 200 day simple moving average of $37.84.

OR Royalties (NYSE:OR) last announced 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. The firm 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%. Equities analysts expect that OR Royalties Inc. will post 1.27 earnings per share for the current year.

OR Royalties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. This is an increase from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s payout ratio is 18.66%.

Analyst Upgrades and Downgrades

A number of analysts have recently 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 for the company in a research report on Thursday, July 9th. Zacks Research downgraded OR Royalties from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Weiss Ratings downgraded shares of OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Wall Street Zen lowered shares of OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Jefferies Financial Group dropped their price objective on shares of OR Royalties from $40.00 to $34.00 and set a “hold” rating for the company in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $40.50.

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.