Marble Harbor Investment Counsel LLC Sells 20,156 Shares of Organon & Co. (NYSE:OGN)

Marble Harbor Investment Counsel LLC lowered its holdings in Organon & Co. (NYSE:OGN) by 26.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,908 shares of the company’s stock after selling 20,156 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in Organon & Co. were worth $1,178,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in OGN. Thompson Siegel & Walmsley LLC grew its stake in shares of Organon & Co. by 3.4% in the second quarter. Thompson Siegel & Walmsley LLC now owns 2,125,922 shares of the company’s stock worth $44,007,000 after acquiring an additional 69,843 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Organon & Co. by 6.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 166,835 shares of the company’s stock worth $3,453,000 after purchasing an additional 9,755 shares during the last quarter. Federated Hermes Inc. grew its position in Organon & Co. by 1,480,160.0% in the 2nd quarter. Federated Hermes Inc. now owns 74,013 shares of the company’s stock worth $1,532,000 after purchasing an additional 74,008 shares during the last quarter. Meeder Advisory Services Inc. bought a new position in shares of Organon & Co. during the 2nd quarter worth about $225,000. Finally, Meeder Asset Management Inc. raised its position in shares of Organon & Co. by 21.5% during the second quarter. Meeder Asset Management Inc. now owns 8,843 shares of the company’s stock valued at $183,000 after buying an additional 1,563 shares during the last quarter. 77.43% of the stock is owned by institutional investors.

Organon & Co. Stock Up 0.9 %

Shares of OGN opened at $20.47 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.64 and a debt-to-equity ratio of 60.05. The company has a 50-day moving average price of $21.02 and a two-hundred day moving average price of $20.03. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 5.00, a P/E/G ratio of 0.89 and a beta of 0.85. Organon & Co. has a 12 month low of $10.84 and a 12 month high of $23.10.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.08 by $0.04. Organon & Co. had a negative return on equity of 840.29% and a net margin of 15.76%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the firm earned $1.31 EPS. Organon & Co.’s quarterly revenue was down .1% on a year-over-year basis. Equities analysts predict that Organon & Co. will post 4.14 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 16th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.12 annualized dividend and a dividend yield of 5.47%. Organon & Co.’s dividend payout ratio (DPR) is currently 27.38%.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. cut Organon & Co. from a “neutral” rating to an “underweight” rating and boosted their price objective for the company from $18.00 to $20.00 in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.17.

Organon & Co. Company Profile

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.