Montrusco Bolton Investments Inc. Trims Stock Position in OR Royalties Inc. $OR

Montrusco Bolton Investments Inc. cut its holdings in OR Royalties Inc. (NYSE:OR) by 17.2% during the 3rd quarter, Holdings Channel reports. The firm owned 332,958 shares of the basic materials company’s stock after selling 69,273 shares during the period. Montrusco Bolton Investments Inc.’s holdings in OR Royalties were worth $13,348,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in OR Royalties by 152.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,256,583 shares of the basic materials company’s stock worth $26,539,000 after buying an additional 758,815 shares in the last quarter. C WorldWide Group Holding A S increased its position in OR Royalties by 34.5% during the 2nd quarter. C WorldWide Group Holding A S now owns 104,974 shares of the basic materials company’s stock worth $2,699,000 after purchasing an additional 26,942 shares in the last quarter. Geode Capital Management LLC raised its stake in OR Royalties by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 92,267 shares of the basic materials company’s stock valued at $2,384,000 after purchasing an additional 2,459 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of OR Royalties by 24.8% during the 2nd quarter. SG Americas Securities LLC now owns 45,845 shares of the basic materials company’s stock worth $1,179,000 after purchasing an additional 9,100 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of OR Royalties by 3.5% in the second quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company’s stock valued at $337,000 after buying an additional 440 shares during the last quarter. Hedge funds and other institutional investors own 68.52% of the company’s stock.

OR Royalties Stock Performance

OR stock opened at $45.81 on Thursday. The firm has a market cap of $8.59 billion, a P/E ratio of 42.03 and a beta of 0.76. OR Royalties Inc. has a 1 year low of $17.55 and a 1 year high of $47.75. The stock has a 50-day simple moving average of $40.61 and a 200-day simple moving average of $36.58.

OR Royalties (NYSE:OR) last released its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. OR Royalties had a return on equity of 12.73% and a net margin of 74.30%.The firm had revenue of $90.47 million during the quarter, compared to analysts’ expectations of $90.80 million. On average, equities research analysts predict that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, March 31st. OR Royalties’s dividend payout ratio (DPR) is presently 20.18%.

Analyst Upgrades and Downgrades

OR has been the topic of a number of analyst reports. Scotiabank raised their target price on shares of OR Royalties from $41.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. Wall Street Zen cut OR Royalties from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of OR Royalties in a research note on Wednesday, February 4th. Raymond James Financial upgraded OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 price target for the company in a report on Thursday, November 6th. Finally, TD Securities reiterated a “hold” rating on shares of OR Royalties in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.25.

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.