Mitsubishi UFJ Trust & Banking Corp Acquires 47,176 Shares of Organon & Co. (NYSE:OGN)

Mitsubishi UFJ Trust & Banking Corp raised its holdings in Organon & Co. (NYSE:OGN) by 8.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 578,683 shares of the company’s stock after buying an additional 47,176 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Organon & Co. were worth $8,634,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Organon & Co. by 32.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company’s stock worth $41,000 after purchasing an additional 672 shares during the last quarter. Beam Wealth Advisors Inc. boosted its position in Organon & Co. by 3.9% in the 4th quarter. Beam Wealth Advisors Inc. now owns 18,888 shares of the company’s stock valued at $282,000 after buying an additional 717 shares during the period. HighTower Advisors LLC grew its stake in Organon & Co. by 0.5% in the 4th quarter. HighTower Advisors LLC now owns 163,440 shares of the company’s stock worth $2,439,000 after acquiring an additional 855 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Organon & Co. by 4.9% during the fourth quarter. CIBC Asset Management Inc now owns 25,523 shares of the company’s stock worth $381,000 after acquiring an additional 1,184 shares during the period. Finally, Deseret Mutual Benefit Administrators raised its stake in shares of Organon & Co. by 24.3% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 6,256 shares of the company’s stock valued at $93,000 after acquiring an additional 1,222 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Down 0.3 %

Shares of NYSE OGN opened at $14.52 on Friday. Organon & Co. has a 12-month low of $13.87 and a 12-month high of $23.10. The stock’s fifty day simple moving average is $15.33 and its two-hundred day simple moving average is $16.24. The stock has a market capitalization of $3.74 billion, a PE ratio of 4.36, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.09). Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.57 billion. As a group, analysts expect that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.72%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.’s dividend payout ratio is currently 33.63%.

Analyst Ratings Changes

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

About Organon & Co.

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.