Parvin Asset Management LLC Buys New Stake in OR Royalties Inc. $OR

Parvin Asset Management LLC bought a new stake in shares of OR Royalties Inc. (NYSE:OR) during the 4th quarter, Holdings Channel.com reports. The firm bought 68,750 shares of the basic materials company’s stock, valued at approximately $2,433,000. OR Royalties comprises approximately 1.9% of Parvin Asset Management LLC’s holdings, making the stock its 7th largest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of OR Royalties by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 7,847,015 shares of the basic materials company’s stock valued at $277,965,000 after acquiring an additional 167,970 shares in the last quarter. Van ECK Associates Corp increased its stake in OR Royalties by 20.5% during the 3rd quarter. Van ECK Associates Corp now owns 15,561,057 shares of the basic materials company’s stock worth $623,686,000 after buying an additional 2,650,333 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in OR Royalties by 39.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,543,667 shares of the basic materials company’s stock worth $302,419,000 after buying an additional 2,124,421 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in OR Royalties by 6.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,887,800 shares of the basic materials company’s stock worth $75,647,000 after buying an additional 106,700 shares during the period. Finally, Manning & Napier Advisors LLC increased its stake in OR Royalties by 4.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 389,844 shares of the basic materials company’s stock worth $13,815,000 after buying an additional 15,730 shares during the period. Institutional investors and hedge funds own 68.52% of the company’s stock.

OR Royalties Stock Up 1.9%

Shares of NYSE:OR opened at $36.84 on Wednesday. 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 50-day simple moving average of $37.52 and a 200 day simple moving average of $38.78. The company has a market cap of $6.91 billion, a PE ratio of 27.50 and a beta of 0.70.

OR Royalties (NYSE:OR) last announced its quarterly earnings data 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 net margin of 78.09% and a return on equity of 15.10%. The business had revenue of $102.83 million during the quarter, compared to the consensus estimate of $103.27 million. As a group, research analysts forecast that OR Royalties Inc. will post 1.4 EPS for the current fiscal year.

OR Royalties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s payout ratio is currently 18.66%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Zacks Research downgraded shares of OR Royalties from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. TD Securities reaffirmed a “hold” rating on shares of OR Royalties in a research note on Monday, February 23rd. Wall Street Zen downgraded shares of OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Weiss Ratings downgraded shares of OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $56.00 price target on shares of OR Royalties in a research note on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.50.

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.