TD Asset Management Inc Has $31.55 Million Holdings in OR Royalties Inc. $OR

TD Asset Management Inc lessened its position in OR Royalties Inc. (NYSE:OR) by 19.3% in the fourth quarter, HoldingsChannel reports. The fund owned 889,926 shares of the basic materials company’s stock after selling 213,375 shares during the quarter. TD Asset Management Inc’s holdings in OR Royalties were worth $31,551,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. acquired a new stake in OR Royalties in the fourth quarter valued at approximately $36,000. Caitlin John LLC acquired a new stake in OR Royalties in the third quarter valued at approximately $78,000. Allworth Financial LP boosted its position in shares of OR Royalties by 20.0% during the fourth quarter. Allworth Financial LP now owns 2,305 shares of the basic materials company’s stock valued at $82,000 after buying an additional 384 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of OR Royalties during the third quarter valued at approximately $215,000. Finally, Flow Traders U.S. LLC purchased a new position in shares of OR Royalties during the third quarter valued at approximately $217,000. Institutional investors and hedge funds own 68.52% of the company’s stock.

Wall Street Analysts Forecast Growth

OR has been the topic of several analyst reports. Wall Street Zen cut OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Research cut OR Royalties from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OR Royalties in a research report on Friday, May 22nd. TD Securities reaffirmed a “hold” rating on shares of OR Royalties in a research report on Monday, February 23rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $56.00 target price on shares of OR Royalties in a research report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $46.50.

OR Royalties Trading Down 6.4%

Shares of OR Royalties stock opened at $33.81 on Friday. The business’s fifty day simple moving average is $38.03 and its 200 day simple moving average is $38.69. The firm has a market capitalization of $6.34 billion, a P/E ratio of 25.23 and a beta of 0.70. OR Royalties Inc. has a 12 month low of $24.76 and a 12 month high of $48.06.

OR Royalties (NYSE:OR) last issued its quarterly 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 for the quarter, compared to analyst estimates of $103.27 million. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%. Analysts predict that OR Royalties Inc. will post 1.4 EPS for the current fiscal year.

OR Royalties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 0.8%. This is an increase from OR Royalties’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, June 30th. OR Royalties’s dividend payout ratio is 16.42%.

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.