Owens-Illinois, Inc. (NYSE:OI) Position Cut by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC reduced its position in shares of Owens-Illinois, Inc. (NYSE:OI) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,634,998 shares of the industrial products company’s stock after selling 53,940 shares during the period. Owens-Illinois accounts for 1.1% of Wedge Capital Management L L P NC’s holdings, making the stock its 22nd largest position. Wedge Capital Management L L P NC’s holdings in Owens-Illinois were worth $110,869,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Bank of Montreal Can increased 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. CrestPoint Capital Management LLC boosted its stake in Owens-Illinois by 35.9% in the first quarter. CrestPoint Capital Management LLC now owns 17,400 shares of the industrial products company’s stock worth $355,000 after buying an additional 4,600 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Owens-Illinois by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 41,000 shares of the industrial products company’s stock worth $836,000 after buying an additional 900 shares in the last quarter. Telemus Capital LLC bought a new stake in Owens-Illinois during the first quarter worth approximately $202,000. Finally, Nisa Investment Advisors LLC boosted its stake in Owens-Illinois by 3.4% in the first quarter. Nisa Investment Advisors LLC now owns 30,600 shares of the industrial products company’s stock worth $624,000 after buying an additional 1,000 shares in the last quarter. 95.29% of the stock is owned by institutional investors.
Owens-Illinois, Inc. (OI) opened at 23.45 on Friday. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 16.99 and a beta of 1.50. Owens-Illinois, Inc. has a 52-week low of $16.80 and a 52-week high of $25.02. The company’s 50-day moving average price is $24.12 and its 200 day moving average price is $21.67.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.08. Owens-Illinois had a return on equity of 72.15% and a net margin of 3.36%. The company 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 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. Equities research analysts predict that Owens-Illinois, Inc. will post $2.63 earnings per share for the current year.
A number of analysts recently commented on the company. Barclays PLC lifted their price objective on Owens-Illinois from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday, May 1st. Zacks Investment Research cut Owens-Illinois from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. ValuEngine cut Owens-Illinois from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 3rd. BMO Capital Markets reiterated a “hold” rating and set a $20.00 price objective on shares of Owens-Illinois in a research report on Friday, April 21st. Finally, Citigroup Inc. dropped their price objective on Owens-Illinois from $28.00 to $24.00 and set an “underweight” rating for the company in a research 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 issued a strong buy rating to the company. Owens-Illinois currently has a consensus rating of “Hold” and a consensus price target 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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