McAlvany Wealth Management LLC Acquires New Position in OR Royalties Inc. $OR

McAlvany Wealth Management LLC bought a new position in OR Royalties Inc. (NYSE:OR) in the fourth quarter, Holdings Channel reports. The institutional investor bought 77,536 shares of the basic materials company’s stock, valued at approximately $2,744,000. OR Royalties makes up about 2.1% of McAlvany Wealth Management LLC’s holdings, making the stock its 15th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of OR. Goldman Sachs Group Inc. grew 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 valued at $26,539,000 after acquiring an additional 758,815 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 worth $2,384,000 after acquiring an additional 2,459 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of OR Royalties by 3.5% in the 2nd quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company’s stock worth $337,000 after acquiring an additional 440 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of OR Royalties by 58.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 205,176 shares of the basic materials company’s stock valued at $5,275,000 after purchasing an additional 75,596 shares in the last quarter. Finally, Gamco Investors INC. ET AL purchased a new stake in shares of OR Royalties in the 2nd quarter valued at $1,051,000. Hedge funds and other institutional investors own 68.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $56.00 target price on shares of OR Royalties in a research report on Friday, April 10th. Weiss Ratings lowered shares of OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 4th. Zacks Research cut OR Royalties from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Wall Street Zen cut OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, TD Securities reiterated a “hold” rating on shares of OR Royalties in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $46.50.

OR Royalties Stock Performance

NYSE:OR opened at $34.88 on Friday. OR Royalties Inc. has a fifty-two week low of $24.76 and a fifty-two week high of $48.06. The firm has a market cap of $6.54 billion, a PE ratio of 26.03 and a beta of 0.70. The business has a 50 day moving average price of $37.23 and a 200-day moving average price of $38.77.

OR Royalties (NYSE:OR) last released its quarterly earnings data 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. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. The firm had revenue of $102.83 million for the quarter, compared to analysts’ expectations of $103.27 million. Research analysts predict that OR Royalties Inc. will post 1.4 EPS for the current year.

OR Royalties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.065 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.26 annualized dividend and a dividend yield of 0.7%. This is an increase from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s dividend payout ratio is currently 16.42%.

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.