Acadian Asset Management LLC bought a new position in shares of Owens-Illinois, Inc. (NYSE:OI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,710 shares of the industrial products company’s stock, valued at approximately $113,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. James Investment Research Inc. acquired a new position in shares of Owens-Illinois during the first quarter worth $149,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of Owens-Illinois by 113.2% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,100 shares of the industrial products company’s stock worth $165,000 after buying an additional 4,300 shares during the period. Private Advisor Group LLC acquired a new position in shares of Owens-Illinois during the first quarter worth $196,000. Telemus Capital LLC acquired a new position in shares of Owens-Illinois during the first quarter worth $202,000. Finally, Bank of Montreal Can boosted its position in shares of Owens-Illinois by 17.7% in the first quarter. Bank of Montreal Can now owns 10,830 shares of the industrial products company’s stock worth $221,000 after buying an additional 1,632 shares during the period. 94.79% of the stock is owned by institutional investors.
Owens-Illinois, Inc. (NYSE:OI) traded up 0.08% during mid-day trading on Friday, reaching $24.04. 567,991 shares of the company’s stock traded hands. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 17.42 and a beta of 1.50. The company has a 50-day moving average of $24.21 and a 200-day moving average of $21.83. Owens-Illinois, Inc. has a 52-week low of $16.80 and a 52-week high of $25.02.
Owens-Illinois (NYSE:OI) last released its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.77 billion. Owens-Illinois had a net margin of 3.36% and a return on equity of 72.15%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. Equities research analysts expect that Owens-Illinois, Inc. will post $2.63 EPS for the current year.
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A number of brokerages have recently weighed in on OI. BidaskClub cut shares of Owens-Illinois from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Barclays PLC raised their price objective on shares of Owens-Illinois from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Monday, August 7th. Jefferies Group LLC reissued a “hold” rating and set a $27.00 price objective (up from $26.00) on shares of Owens-Illinois in a research note on Wednesday, August 2nd. Royal Bank Of Canada reissued a “hold” rating and set a $24.00 price objective on shares of Owens-Illinois in a research note on Friday, July 14th. Finally, ValuEngine raised shares of Owens-Illinois from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $24.75.
Owens-Illinois Company Profile
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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