Several other research firms have also weighed in on OI. Robert W. Baird reaffirmed a hold rating and issued a $25.00 price objective on shares of Owens-Illinois in a research note on Thursday, October 12th. ValuEngine raised Owens-Illinois from a buy rating to a strong-buy rating in a research note on Friday, October 13th. Royal Bank Of Canada set a $27.00 price objective on Owens-Illinois and gave the company a hold rating in a research note on Tuesday, October 17th. Zacks Investment Research lowered Owens-Illinois from a buy rating to a sell rating in a research note on Tuesday, October 3rd. Finally, UBS AG reaffirmed a neutral rating and issued a $27.00 price objective (up from $26.00) on shares of Owens-Illinois in a research note on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $26.45.
Shares of Owens-Illinois (OI) traded down 0.04% during midday trading on Monday, hitting $23.70. 204,389 shares of the stock traded hands. The company has a market capitalization of $3.86 billion, a P/E ratio of 17.17 and a beta of 1.49. Owens-Illinois has a 1-year low of $17.31 and a 1-year high of $25.90. The stock has a 50 day moving average of $24.87 and a 200 day moving average of $23.60.
Owens-Illinois (NYSE:OI) last issued its quarterly earnings results on Monday, October 23rd. The industrial products company reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.04. Owens-Illinois had a return on equity of 63.33% and a net margin of 3.59%. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the business earned $0.68 earnings per share. Owens-Illinois’s revenue was up 5.1% on a year-over-year basis. Equities research analysts predict that Owens-Illinois will post $2.64 earnings per share for the current fiscal year.
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In other Owens-Illinois news, insider Sergio B.O. Galindo sold 5,477 shares of Owens-Illinois stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $24.93, for a total value of $136,541.61. Following the completion of the sale, the insider now directly owns 34,890 shares in the company, valued at $869,807.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Moyano Giancarlo Currarino sold 1,360 shares of Owens-Illinois stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $23.97, for a total value of $32,599.20. Following the completion of the sale, the senior vice president now owns 23,954 shares of the company’s stock, valued at $574,177.38. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the business. DekaBank Deutsche Girozentrale increased its holdings in shares of Owens-Illinois by 104.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 4,635 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 2,366 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Owens-Illinois during the second quarter valued at approximately $113,000. Acrospire Investment Management LLC increased its holdings in shares of Owens-Illinois by 163.8% during the second quarter. Acrospire Investment Management LLC now owns 6,714 shares of the industrial products company’s stock valued at $161,000 after acquiring an additional 4,169 shares in the last quarter. Flinton Capital Management LLC increased its holdings in shares of Owens-Illinois by 74.4% during the second quarter. Flinton Capital Management LLC now owns 7,200 shares of the industrial products company’s stock valued at $172,000 after acquiring an additional 3,072 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in shares of Owens-Illinois by 113.2% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,100 shares of the industrial products company’s stock valued at $165,000 after acquiring an additional 4,300 shares in the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.
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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