Schwab Charles Investment Management Inc. boosted its holdings in Owens-Illinois Inc (NYSE:OI) by 3.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 833,064 shares of the industrial products company’s stock after buying an additional 31,057 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Owens-Illinois were worth $18,470,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the business. Great West Life Assurance Co. Can grew 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. Prudential Financial Inc. grew its position in Owens-Illinois by 15.1% in the third quarter. Prudential Financial Inc. now owns 3,916,784 shares of the industrial products company’s stock worth $98,546,000 after buying an additional 513,679 shares during the last quarter. Principal Financial Group Inc. grew its position in Owens-Illinois by 145.9% in 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 buying an additional 1,017,414 shares during the last quarter. Ameriprise Financial Inc. grew its position in Owens-Illinois by 1.6% in the third quarter. Ameriprise Financial Inc. now owns 1,607,768 shares of the industrial products company’s stock worth $40,452,000 after buying an additional 25,042 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Owens-Illinois by 3.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,489,248 shares of the industrial products company’s stock worth $37,470,000 after buying an additional 51,404 shares during the last quarter. Hedge funds and other institutional investors own 94.65% of the company’s stock.
A number of equities analysts recently commented on the stock. Wells Fargo & Co decreased their price objective on shares of Owens-Illinois from $24.00 to $23.00 and set a “market perform” rating for the company in a research note on Friday, February 9th. Vertical Research raised shares of Owens-Illinois to a “buy” rating and set a $27.00 price objective for the company in a research note on Wednesday, February 7th. Zacks Investment Research lowered shares of Owens-Illinois from a “hold” rating to a “sell” rating in a research note on Monday, January 29th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $26.00 price objective on shares of Owens-Illinois in a research note on Thursday, December 14th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Owens-Illinois in a research note on Friday, November 10th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Owens-Illinois has a consensus rating of “Hold” and an average target price of $26.00.
Owens-Illinois (NYSE:OI) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.72 billion. Owens-Illinois had a net margin of 2.65% and a return on equity of 53.60%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $0.50 EPS. equities research analysts expect that Owens-Illinois Inc will post 2.81 earnings per share for the current fiscal year.
Owens-Illinois announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 6th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
ILLEGAL ACTIVITY NOTICE: “Schwab Charles Investment Management Inc. Acquires 31,057 Shares of Owens-Illinois Inc (OI)” was published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece on another publication, it was stolen and republished in violation of international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.com-unik.info/2018/02/22/schwab-charles-investment-management-inc-acquires-31057-shares-of-owens-illinois-inc-oi.html.
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.
Want to see what other hedge funds are holding OI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Owens-Illinois Inc (NYSE:OI).
Receive News & Ratings for Owens-Illinois Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens-Illinois and related companies with MarketBeat.com's FREE daily email newsletter.