KLCM Advisors Inc. boosted its stake in shares of Owens-Illinois Inc (NYSE:OI) by 5.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 387,125 shares of the industrial products company’s stock after acquiring an additional 18,925 shares during the period. Owens-Illinois comprises about 2.3% of KLCM Advisors Inc.’s holdings, making the stock its 22nd biggest holding. KLCM Advisors Inc. owned 0.24% of Owens-Illinois worth $8,385,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky raised its position in Owens-Illinois by 8.0% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 36,350 shares of the industrial products company’s stock worth $806,000 after acquiring an additional 2,700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Owens-Illinois by 43.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,889 shares of the industrial products company’s stock worth $197,000 after acquiring an additional 2,702 shares during the period. IFP Advisors Inc raised its position in Owens-Illinois by 17.2% during the fourth quarter. IFP Advisors Inc now owns 19,143 shares of the industrial products company’s stock worth $424,000 after acquiring an additional 2,812 shares during the period. Sigma Planning Corp raised its position in Owens-Illinois by 16.3% during the fourth quarter. Sigma Planning Corp now owns 23,578 shares of the industrial products company’s stock worth $523,000 after acquiring an additional 3,310 shares during the period. Finally, Systematic Financial Management LP raised its position in Owens-Illinois by 6.4% during the first quarter. Systematic Financial Management LP now owns 63,290 shares of the industrial products company’s stock worth $1,371,000 after acquiring an additional 3,825 shares during the period. Institutional investors own 94.12% of the company’s stock.
In other news, SVP Moyano Giancarlo Currarino sold 11,910 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $22.57, for a total value of $268,808.70. Following the completion of the sale, the senior vice president now directly owns 28,070 shares in the company, valued at $633,539.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by corporate insiders.
OI has been the subject of a number of research analyst reports. Deutsche Bank upgraded shares of Owens-Illinois from a “hold” rating to a “buy” rating and upped their price objective for the stock from $19.45 to $25.90 in a research report on Thursday, April 26th. Zacks Investment Research cut shares of Owens-Illinois from a “buy” rating to a “hold” rating in a research report on Thursday, April 26th. Bank of America cut shares of Owens-Illinois from a “buy” rating to a “neutral” rating and set a $27.00 price objective for the company. in a research report on Wednesday, April 25th. ValuEngine upgraded shares of Owens-Illinois from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Finally, KeyCorp restated a “hold” rating on shares of Owens-Illinois in a research report on Tuesday, April 24th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. Owens-Illinois presently has a consensus rating of “Hold” and a consensus target price of $25.54.
Shares of Owens-Illinois opened at $18.95 on Wednesday, according to MarketBeat Ratings. The stock has a market capitalization of $3.01 billion, a PE ratio of 7.15, a price-to-earnings-growth ratio of 1.16 and a beta of 1.42. The company has a quick ratio of 0.82, a current ratio of 1.33 and a debt-to-equity ratio of 5.04. Owens-Illinois Inc has a 52 week low of $17.95 and a 52 week high of $25.90.
Owens-Illinois (NYSE:OI) last issued its earnings results on Monday, April 23rd. The industrial products company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.01. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Owens-Illinois had a net margin of 3.30% and a return on equity of 46.76%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 earnings per share. equities research analysts predict that Owens-Illinois Inc will post 2.8 EPS for the current fiscal year.
Owens-Illinois announced that its board has initiated a stock buyback program on Tuesday, February 6th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Europe, North America, Latin America, and the Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.
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