Gabelli Funds LLC Sells 28,250 Shares of OR Royalties Inc. $OR

Gabelli Funds LLC reduced its holdings in OR Royalties Inc. (NYSE:OR) by 13.3% in the fourth quarter, HoldingsChannel reports. The firm owned 184,319 shares of the basic materials company’s stock after selling 28,250 shares during the period. Gabelli Funds LLC’s holdings in OR Royalties were worth $6,523,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in OR. Goldman Sachs Group Inc. increased its holdings in OR Royalties by 152.4% in 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 purchasing an additional 758,815 shares in the last quarter. Geode Capital Management LLC increased its holdings in OR Royalties by 2.7% in the second quarter. Geode Capital Management LLC now owns 92,267 shares of the basic materials company’s stock worth $2,384,000 after purchasing an additional 2,459 shares in the last quarter. Cetera Investment Advisers increased its holdings in OR Royalties by 3.5% in the second 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. JPMorgan Chase & Co. increased its holdings in OR Royalties by 58.3% in the second quarter. JPMorgan Chase & Co. now owns 205,176 shares of the basic materials company’s stock worth $5,275,000 after purchasing an additional 75,596 shares in the last quarter. Finally, Gamco Investors INC. ET AL bought a new stake in OR Royalties in the second quarter worth approximately $1,051,000. 68.52% of the stock is currently owned by institutional investors.

OR Royalties Stock Up 1.4%

OR stock opened at $36.00 on Thursday. OR Royalties Inc. has a twelve month low of $24.42 and a twelve month high of $48.06. The stock’s 50 day moving average is $38.55 and its 200-day moving average is $38.41. The firm has a market capitalization of $6.75 billion, a PE ratio of 26.86 and a beta of 0.71.

OR Royalties (NYSE:OR) last posted its earnings results on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%.The company had revenue of $102.83 million for the quarter, compared to analyst estimates of $103.27 million. On average, equities research analysts anticipate that OR Royalties Inc. will post 1.4 earnings per share for the current fiscal year.

OR Royalties Increases Dividend

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

Analyst Upgrades and Downgrades

OR has been the subject of a number of research analyst reports. TD Securities reiterated a “hold” rating on shares of OR Royalties in a report on Monday, February 23rd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of OR Royalties in a research note on Wednesday, February 4th. Wall Street Zen cut OR Royalties from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 11th. Zacks Research cut OR Royalties from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, Scotiabank raised their price objective on OR Royalties from $41.00 to $51.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $46.50.

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.