Acadian Asset Management LLC purchased a new stake in Owens-Illinois, Inc. (NYSE:OI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,710 shares of the industrial products company’s stock, valued at approximately $113,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atria Investments LLC raised its position in shares of Owens-Illinois by 1.3% in the second quarter. Atria Investments LLC now owns 11,342 shares of the industrial products company’s stock valued at $271,000 after buying an additional 142 shares during the period. Contravisory Investment Management Inc. raised its position in shares of Owens-Illinois by 1.5% in the second quarter. Contravisory Investment Management Inc. now owns 13,982 shares of the industrial products company’s stock valued at $334,000 after buying an additional 203 shares during the period. Baird Financial Group Inc. raised its position in shares of Owens-Illinois by 1.8% in the first quarter. Baird Financial Group Inc. now owns 26,834 shares of the industrial products company’s stock valued at $547,000 after buying an additional 463 shares during the period. Capstone Asset Management Co. raised its position in shares of Owens-Illinois by 2.8% in the second quarter. Capstone Asset Management Co. now owns 18,614 shares of the industrial products company’s stock valued at $445,000 after buying an additional 510 shares during the period. Finally, State Treasurer State of Michigan raised its position in shares of Owens-Illinois by 0.9% in the first quarter. State Treasurer State of Michigan now owns 65,900 shares of the industrial products company’s stock valued at $1,343,000 after buying an additional 600 shares during the period. Institutional investors own 94.79% of the company’s stock.

Owens-Illinois, Inc. (NYSE:OI) traded up 0.08% during mid-day trading on Friday, hitting $24.04. 567,991 shares of the company traded hands. The company’s 50-day moving average is $24.21 and its 200-day moving average is $21.83. Owens-Illinois, Inc. has a one year low of $16.80 and a one year high of $25.02. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 17.42 and a beta of 1.50.

Owens-Illinois (NYSE:OI) last issued its earnings results on Monday, July 31st. The industrial products company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.08. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.77 billion. Owens-Illinois had a net margin of 3.36% and a return on equity of 72.15%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 earnings per share. Analysts predict that Owens-Illinois, Inc. will post $2.63 EPS for the current year.

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Several research analysts have recently commented on the stock. BidaskClub lowered shares of Owens-Illinois from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of Owens-Illinois from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Wednesday, June 14th. TheStreet upgraded shares of Owens-Illinois from a “c+” rating to a “b” rating in a research note on Thursday, May 4th. ValuEngine upgraded shares of Owens-Illinois from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $24.00 price target on shares of Owens-Illinois in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Owens-Illinois presently has a consensus rating of “Hold” and an average price target of $24.75.

About Owens-Illinois

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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Institutional Ownership by Quarter for Owens-Illinois (NYSE:OI)

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