Polar Asset Management Partners Inc. Sells 55,000 Shares of OR Royalties Inc. $OR

Polar Asset Management Partners Inc. cut its holdings in OR Royalties Inc. (NYSE:OR) by 50.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,000 shares of the basic materials company’s stock after selling 55,000 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in OR Royalties were worth $2,091,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SummitTX Capital L.P. bought a new position in shares of OR Royalties in the 1st quarter worth about $6,810,000. Themes Management Co LLC bought a new stake in OR Royalties during the first quarter worth about $247,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in OR Royalties during the first quarter worth about $1,912,000. Renaissance Technologies LLC grew its holdings in OR Royalties by 86.2% in the first quarter. Renaissance Technologies LLC now owns 783,302 shares of the basic materials company’s stock worth $29,781,000 after purchasing an additional 362,700 shares during the period. Finally, FCA Corp TX grew its holdings in OR Royalties by 0.8% in the first quarter. FCA Corp TX now owns 39,647 shares of the basic materials company’s stock worth $1,507,000 after purchasing an additional 330 shares during the period. 68.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Weiss Ratings lowered shares of OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Wall Street Zen downgraded OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Jefferies Financial Group cut their price target on OR Royalties from $40.00 to $34.00 and set a “hold” rating on the stock in a research note on Monday, July 6th. Royal Bank Of Canada reduced their price objective on OR Royalties from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Finally, Zacks Research cut OR Royalties from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $40.50.

OR Royalties Stock Up 1.1%

Shares of OR Royalties stock opened at $29.53 on Tuesday. OR Royalties Inc. has a twelve month low of $27.40 and a twelve month high of $48.06. The company’s 50 day moving average is $32.61 and its 200 day moving average is $37.81. The company has a market cap of $5.53 billion, a price-to-earnings ratio of 22.04 and a beta of 0.74.

OR Royalties (NYSE:OR) last posted its earnings results on Wednesday, May 6th. The basic materials company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $102.83 million during the quarter, compared to the consensus estimate of $103.27 million. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. Sell-side analysts expect that OR Royalties Inc. will post 1.27 EPS for the current fiscal year.

OR Royalties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.065 dividend. This is an increase from OR Royalties’s previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.9%. OR Royalties’s dividend payout ratio (DPR) is 18.66%.

OR Royalties 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.