Owens-Illinois, Inc. (OI) Position Raised by Alliancebernstein L.P.
Alliancebernstein L.P. increased its stake in Owens-Illinois, Inc. (NYSE:OI) by 9.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 109,724 shares of the industrial products company’s stock after acquiring an additional 9,650 shares during the quarter. Alliancebernstein L.P. owned approximately 0.07% of Owens-Illinois worth $2,625,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Morgan Stanley increased its holdings in Owens-Illinois by 9.8% in the 1st quarter. Morgan Stanley now owns 710,399 shares of the industrial products company’s stock worth $14,478,000 after acquiring an additional 63,586 shares in the last quarter. Contrarius Investment Management Ltd purchased a new stake in Owens-Illinois in the 2nd quarter worth $4,183,000. BlackRock Inc. increased its holdings in Owens-Illinois by 16,329.5% in the 1st quarter. BlackRock Inc. now owns 14,655,477 shares of the industrial products company’s stock worth $298,679,000 after acquiring an additional 14,566,275 shares in the last quarter. Arizona State Retirement System increased its holdings in Owens-Illinois by 1.6% in the 2nd quarter. Arizona State Retirement System now owns 68,600 shares of the industrial products company’s stock worth $1,641,000 after acquiring an additional 1,100 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in Owens-Illinois by 113.2% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,100 shares of the industrial products company’s stock worth $165,000 after acquiring an additional 4,300 shares in the last quarter. 95.06% of the stock is owned by institutional investors.
Shares of Owens-Illinois, Inc. (OI) opened at 25.43 on Friday. Owens-Illinois, Inc. has a 12-month low of $16.89 and a 12-month high of $25.90. The stock’s 50 day moving average is $24.69 and its 200-day moving average is $23.16. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 18.43 and a beta of 1.49.
Owens-Illinois (NYSE:OI) last posted its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Owens-Illinois had a return on equity of 72.15% and a net margin of 3.36%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS. Equities analysts anticipate that Owens-Illinois, Inc. will post $2.63 EPS for the current fiscal year.
Several brokerages recently commented on OI. Robert W. Baird reissued a “hold” rating and issued a $25.00 price target on shares of Owens-Illinois in a report on Thursday. BidaskClub lowered shares of Owens-Illinois from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Royal Bank Of Canada reissued a “neutral” rating on shares of Owens-Illinois in a report on Tuesday. Jefferies Group LLC reissued a “hold” rating and issued a $27.00 price target (up previously from $26.00) on shares of Owens-Illinois in a report on Wednesday, August 2nd. Finally, Zacks Investment Research lowered shares of Owens-Illinois from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $25.60.
In related news, insider Sergio B.O. Galindo sold 5,477 shares of Owens-Illinois stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $24.93, for a total transaction of $136,541.61. Following the completion of the sale, the insider now owns 34,890 shares in the company, valued at approximately $869,807.70. The transaction was disclosed in a document filed 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 dated Friday, September 8th. The stock was sold at an average price of $23.97, for a total value of $32,599.20. Following the sale, the senior vice president now owns 23,954 shares of the company’s stock, valued at approximately $574,177.38. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
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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