Rhumbline Advisers cut its stake in Owens-Illinois Inc (NYSE:OI) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 299,698 shares of the industrial products company’s stock after selling 4,563 shares during the quarter. Rhumbline Advisers owned about 0.18% of Owens-Illinois worth $6,644,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Great West Life Assurance Co. Can lifted its position in Owens-Illinois by 0.7% in the third quarter. Great West Life Assurance Co. Can now owns 7,997,182 shares of the industrial products company’s stock worth $201,104,000 after buying an additional 58,137 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Owens-Illinois by 6.6% during the fourth quarter. Wedge Capital Management L L P NC now owns 4,861,581 shares of the industrial products company’s stock worth $107,781,000 after purchasing an additional 301,427 shares during the last quarter. LSV Asset Management lifted its position in shares of Owens-Illinois by 38.9% during the fourth quarter. LSV Asset Management now owns 4,343,542 shares of the industrial products company’s stock worth $96,296,000 after purchasing an additional 1,216,999 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Owens-Illinois by 15.1% during the third quarter. Prudential Financial Inc. now owns 3,916,784 shares of the industrial products company’s stock worth $98,546,000 after purchasing an additional 513,679 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Owens-Illinois by 145.9% during the third quarter. Principal Financial Group Inc. now owns 1,714,934 shares of the industrial products company’s stock worth $43,148,000 after purchasing an additional 1,017,414 shares during the last quarter. Institutional investors own 95.08% of the company’s stock.
Shares of Owens-Illinois Inc (OI) traded down $0.33 during trading on Wednesday, hitting $22.53. The stock had a trading volume of 1,025,222 shares, compared to its average volume of 1,502,869. The stock has a market capitalization of $3,731.90, a price-to-earnings ratio of 20.48, a P/E/G ratio of 1.44 and a beta of 1.46. The company has a debt-to-equity ratio of 5.52, a quick ratio of 0.61 and a current ratio of 1.06. Owens-Illinois Inc has a 1 year low of $19.59 and a 1 year high of $25.90.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. Owens-Illinois had a return on equity of 53.60% and a net margin of 2.65%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the firm posted $0.50 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. research analysts forecast that Owens-Illinois Inc will post 2.81 earnings per share for the current year.
Owens-Illinois declared that its board has initiated a stock repurchase plan on Tuesday, February 6th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Several analysts have recently weighed in on OI shares. Zacks Investment Research downgraded Owens-Illinois from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. Royal Bank of Canada reiterated a “hold” rating and set a $26.00 target price on shares of Owens-Illinois in a research report on Thursday, December 14th. Vertical Research upgraded Owens-Illinois to a “buy” rating and set a $27.00 target price for the company in a research report on Wednesday, February 7th. Wells Fargo & Co decreased their target price on Owens-Illinois from $24.00 to $23.00 and set a “market perform” rating for the company in a research report on Friday, February 9th. Finally, ValuEngine upgraded Owens-Illinois from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $26.00.
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Owens-Illinois, Inc is a manufacturer of glass container products. The Company’s principal product lines are glass containers for the food and beverage industries. The Company’s segments include Europe, North America, Latin America and Asia Pacific. The Company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine.
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