Renaissance Technologies LLC Has $3.99 Million Stake in Owens-Illinois, Inc. (OI)
Renaissance Technologies LLC lowered its stake in Owens-Illinois, Inc. (NYSE:OI) by 75.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 195,753 shares of the industrial products company’s stock after selling 596,047 shares during the period. Renaissance Technologies LLC owned about 0.12% of Owens-Illinois worth $3,989,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. James Investment Research Inc. purchased a new position in Owens-Illinois during the first quarter valued at approximately $149,000. Private Advisor Group LLC purchased a new position in Owens-Illinois during the first quarter valued at approximately $196,000. Telemus Capital LLC purchased a new position in Owens-Illinois during the first quarter valued at approximately $202,000. Bank of Montreal Can boosted its position in 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 valued at $221,000 after buying an additional 1,632 shares during the period. Finally, World Asset Management Inc boosted its position in Owens-Illinois by 13.2% in the first quarter. World Asset Management Inc now owns 13,616 shares of the industrial products company’s stock valued at $277,000 after buying an additional 1,584 shares during the period. Institutional investors own 95.29% of the company’s stock.
Shares of Owens-Illinois, Inc. (NYSE:OI) traded up 0.12% during mid-day trading on Tuesday, hitting $24.29. 194,374 shares of the stock traded hands. Owens-Illinois, Inc. has a one year low of $16.80 and a one year high of $25.02. The stock has a 50-day moving average of $23.87 and a 200 day moving average of $21.48. The stock has a market cap of $3.96 billion, a PE ratio of 17.60 and a beta of 1.50.
Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Owens-Illinois had a net margin of 3.36% and a return on equity of 72.15%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the company earned $0.65 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. Equities analysts predict that Owens-Illinois, Inc. will post $2.63 EPS for the current fiscal year.
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Several research analysts have commented on the stock. Barclays PLC boosted their price target on shares of Owens-Illinois from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, May 1st. Zacks Investment Research cut shares of Owens-Illinois from a “buy” rating to a “hold” rating in a report on Friday, May 12th. ValuEngine cut shares of Owens-Illinois from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 3rd. BMO Capital Markets reiterated a “hold” rating and set a $20.00 price target on shares of Owens-Illinois in a report on Friday, April 21st. Finally, Citigroup Inc. lowered their price target on shares of Owens-Illinois from $28.00 to $24.00 and set an “underweight” rating for the company in a report on Friday, April 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Owens-Illinois currently has a consensus rating of “Hold” and an average target price of $26.44.
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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