Private Management Group Inc. Has $36.23 Million Holdings in Organon & Co. (NYSE:OGN)

Private Management Group Inc. lifted its holdings in Organon & Co. (NYSE:OGN - Free Report) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,893,868 shares of the company's stock after purchasing an additional 34,026 shares during the quarter. Organon & Co. accounts for approximately 1.3% of Private Management Group Inc.'s investment portfolio, making the stock its 16th biggest holding. Private Management Group Inc. owned 0.74% of Organon & Co. worth $36,230,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC bought a new stake in Organon & Co. during the 1st quarter worth about $6,284,000. Friedenthal Financial acquired a new position in shares of Organon & Co. during the 2nd quarter worth approximately $769,000. Vanguard Group Inc. increased its position in shares of Organon & Co. by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 30,789,850 shares of the company's stock worth $578,849,000 after purchasing an additional 192,613 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Organon & Co. by 23.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 263,051 shares of the company's stock worth $4,945,000 after purchasing an additional 50,788 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Organon & Co. by 8.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 565,866 shares of the company's stock valued at $11,713,000 after buying an additional 41,954 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on OGN shares. JPMorgan Chase & Co. downgraded shares of Organon & Co. from a "neutral" rating to an "underweight" rating and boosted their target price for the stock from $18.00 to $20.00 in a report on Friday, September 6th. Evercore ISI upgraded shares of Organon & Co. to a "strong-buy" rating in a research note on Wednesday, September 18th.

Organon & Co. Stock Performance

Shares of NYSE OGN traded down $0.71 during midday trading on Friday, hitting $18.07. 2,702,952 shares of the company's stock were exchanged, compared to its average volume of 2,147,832. 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 firm has a market capitalization of $4.65 billion, a PE ratio of 3.59, a price-to-earnings-growth ratio of 0.85 and a beta of 0.84. Organon & Co. has a 12 month low of $10.84 and a 12 month high of $23.10. The company's 50 day moving average price is $19.38 and its 200 day moving average price is $20.11.

Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.04. The firm had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.61 billion. Organon & Co. had a net margin of 20.30% and a return on equity of 2,437.43%. The company's revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.31 earnings per share. As a group, analysts predict that Organon & Co. will post 4.04 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.12 annualized dividend and a yield of 6.20%. Organon & Co.'s dividend payout ratio is currently 22.22%.

Organon & Co. 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.