EdgePoint Investment Group Inc. Reduces Holdings in OR Royalties Inc. $OR

EdgePoint Investment Group Inc. reduced its stake in OR Royalties Inc. (NYSE:OR) by 9.7% in the first quarter, HoldingsChannel reports. The fund owned 19,460,644 shares of the basic materials company’s stock after selling 2,081,985 shares during the quarter. OR Royalties makes up 5.9% of EdgePoint Investment Group Inc.’s holdings, making the stock its 7th largest holding. EdgePoint Investment Group Inc. owned 0.10% of OR Royalties worth $741,159,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in OR. Linden Thomas Advisory Services LLC increased its stake in shares of OR Royalties by 4.1% during 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 during the period. FCA Corp TX lifted its position in OR Royalties by 0.8% in the first quarter. FCA Corp TX now owns 39,647 shares of the basic materials company’s stock worth $1,507,000 after purchasing an additional 330 shares during the period. Wells Fargo & Company MN boosted its stake in OR Royalties by 6.2% during the 4th 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 in the last quarter. Allworth Financial LP boosted 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 valued at $82,000 after purchasing an additional 384 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of OR Royalties by 3.5% during the 2nd quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company’s stock valued at $337,000 after purchasing an additional 440 shares during the period. 68.52% of the stock is currently owned by institutional investors.

OR Royalties Stock Performance

NYSE OR opened at $29.53 on Tuesday. OR Royalties Inc. has a 1 year low of $27.40 and a 1 year high of $48.06. The business’s fifty day moving average is $32.61 and its two-hundred day moving average is $37.81. 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 released its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. The business 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%. On average, research analysts forecast that OR Royalties Inc. will post 1.27 earnings per share for the current 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 dividend of $0.065 per share. This is a positive change from OR Royalties’s previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. OR Royalties’s dividend payout ratio (DPR) is currently 18.66%.

Wall Street Analyst Weigh In

OR has been the topic of a number of research reports. Royal Bank Of Canada dropped 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. Jefferies Financial Group decreased their target price on OR Royalties from $40.00 to $34.00 and set a “hold” rating for the company in a research note on Monday, July 6th. Scotiabank lowered their target price on OR Royalties from $51.00 to $42.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Weiss Ratings cut shares of OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. 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 investment 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.