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

McAlvany Wealth Management LLC bought a new stake in shares of OR Royalties Inc. (NYSE:OR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 77,536 shares of the basic materials company’s stock, valued at approximately $2,744,000. OR Royalties accounts for about 2.1% of McAlvany Wealth Management LLC’s portfolio, making the stock its 15th biggest holding.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake 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 purchasing an additional 167,970 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 purchasing an additional 2,124,421 shares in the last quarter. Van ECK Associates Corp boosted its stake in OR Royalties by 20.5% in 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 purchasing an additional 2,650,333 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in OR Royalties by 6.0% in 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 purchasing an additional 106,700 shares during the period. Finally, Manning & Napier Advisors LLC grew its holdings 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 valued at $13,815,000 after buying an additional 15,730 shares in the last quarter. Hedge funds and other institutional investors own 68.52% of the company’s stock.

OR Royalties Price Performance

OR stock opened at $34.88 on Friday. The firm has a 50 day simple moving average of $37.23 and a two-hundred day simple moving average of $38.77. The stock has a market cap of $6.54 billion, a PE ratio of 26.03 and a beta of 0.70. OR Royalties Inc. has a one year low of $24.76 and a one year high of $48.06.

OR Royalties (NYSE:OR) last posted its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share for the quarter, beating the consensus estimate 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. On average, research analysts expect that OR Royalties Inc. will post 1.4 EPS for the current fiscal year.

OR Royalties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.065 per share. The ex-dividend date is Tuesday, June 30th. This is a positive change from OR Royalties’s previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a yield of 0.7%. OR Royalties’s dividend payout ratio (DPR) is 16.42%.

Wall Street Analyst Weigh In

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