Marble Harbor Investment Counsel LLC Sells 10,456 Shares of Organon & Co. (NYSE:OGN)

Marble Harbor Investment Counsel LLC trimmed its holdings in Organon & Co. (NYSE:OGN) by 26.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 29,435 shares of the company’s stock after selling 10,456 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in Organon & Co. were worth $439,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in OGN. Barclays PLC boosted its holdings in Organon & Co. by 238.0% in the third quarter. Barclays PLC now owns 119,483 shares of the company’s stock worth $2,285,000 after purchasing an additional 84,136 shares in the last quarter. Weiss Asset Management LP bought a new stake in shares of Organon & Co. during the 3rd quarter worth about $32,966,000. Cerity Partners LLC boosted its stake in shares of Organon & Co. by 94.0% during the 3rd quarter. Cerity Partners LLC now owns 667,340 shares of the company’s stock worth $12,766,000 after acquiring an additional 323,308 shares in the last quarter. Foundry Partners LLC bought a new stake in shares of Organon & Co. during the 3rd quarter worth about $7,642,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in Organon & Co. during the fourth quarter worth approximately $2,263,000. 77.43% of the stock is owned by institutional investors.

Organon & Co. Price Performance

Shares of Organon & Co. stock opened at $15.44 on Friday. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. Organon & Co. has a fifty-two week low of $13.87 and a fifty-two week high of $23.10. The firm has a fifty day moving average price of $15.41 and a two-hundred day moving average price of $16.98. The company has a market cap of $3.98 billion, a PE ratio of 4.64, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76.

Organon & Co. (NYSE:OGN) last released its earnings results on Thursday, February 13th. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.57 billion. Analysts expect that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Monday, February 24th will be given a $0.28 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.26%. Organon & Co.’s dividend payout ratio is currently 33.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OGN. TD Cowen raised Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. Morgan Stanley decreased their price objective on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. Finally, Barclays decreased their price target on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Organon & Co. has a consensus rating of “Hold” and an average price target of $20.80.

Organon & Co. Company Profile

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women’s health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.