Manning & Napier Advisors LLC Takes Position in OR Royalties Inc. $OR

Manning & Napier Advisors LLC bought a new position in shares of OR Royalties Inc. (NYSE:OR) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 374,114 shares of the basic materials company’s stock, valued at approximately $14,998,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Merit Financial Group LLC acquired a new position in OR Royalties during the third quarter worth $215,000. Smith Salley Wealth Management bought a new position in OR Royalties during the third quarter worth about $228,000. Corundum Trust Company INC acquired a new stake in shares of OR Royalties in the third quarter valued at approximately $240,000. Twin Tree Management LP bought a new position in shares of OR Royalties during the 2nd quarter worth approximately $245,000. Finally, Benjamin Edwards Inc. acquired a new position in shares of OR Royalties during the 3rd quarter worth approximately $286,000. 68.52% of the stock is currently owned by institutional investors.

OR Royalties Stock Performance

OR opened at $40.97 on Wednesday. OR Royalties Inc. has a 52-week low of $17.55 and a 52-week high of $42.25. The firm has a market cap of $7.67 billion, a P/E ratio of 51.85 and a beta of 0.78. The business’s fifty day moving average is $34.93 and its 200-day moving average is $33.33.

OR Royalties (NYSE:OR) last posted its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03. The business had revenue of $71.63 million during the quarter, compared to analysts’ expectations of $53.85 million. OR Royalties had a net margin of 60.72% and a return on equity of 10.67%. On average, research analysts predict that OR Royalties Inc. will post 0.62 earnings per share for the current fiscal year.

OR Royalties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.055 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.5%. OR Royalties’s payout ratio is 27.85%.

Analysts Set New Price Targets

Several equities analysts have commented on OR shares. Canaccord Genuity Group upgraded shares of OR Royalties from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of OR Royalties in a report on Monday, December 29th. Raymond James Financial upgraded OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 price objective for the company in a report on Thursday, November 6th. Scotiabank lowered OR Royalties from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $33.00 to $41.00 in a report on Thursday, October 23rd. Finally, Jefferies Financial Group reissued a “hold” rating and set a $38.00 target price on shares of OR Royalties in a report on Sunday, December 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

About OR Royalties

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.