Bank of New York Mellon Corp reduced its position in Owens-Illinois, Inc. (NYSE:OI) by 9.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,783,150 shares of the industrial products company’s stock after selling 279,479 shares during the period. Bank of New York Mellon Corp owned about 1.71% of Owens-Illinois worth $70,025,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Owens-Illinois by 3.5% during the 2nd quarter. BlackRock Inc. now owns 15,167,509 shares of the industrial products company’s stock valued at $362,806,000 after buying an additional 512,032 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in Owens-Illinois by 1.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 7,939,045 shares of the industrial products company’s stock valued at $189,411,000 after buying an additional 125,665 shares during the last quarter. Prudential Financial Inc. grew its holdings in Owens-Illinois by 15.1% during the 3rd quarter. Prudential Financial Inc. now owns 3,916,784 shares of the industrial products company’s stock valued at $98,546,000 after buying an additional 513,679 shares during the last quarter. Thrivent Financial For Lutherans grew its holdings in Owens-Illinois by 30.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 2,929,740 shares of the industrial products company’s stock valued at $70,080,000 after buying an additional 688,720 shares during the last quarter. Finally, LSV Asset Management grew its holdings in Owens-Illinois by 36.9% during the 2nd quarter. LSV Asset Management now owns 2,271,378 shares of the industrial products company’s stock valued at $54,331,000 after buying an additional 612,600 shares during the last quarter. 93.72% of the stock is owned by hedge funds and other institutional investors.

Owens-Illinois, Inc. (NYSE:OI) traded up $0.03 during mid-day trading on Wednesday, hitting $23.24. The stock had a trading volume of 1,635,000 shares, compared to its average volume of 1,263,353. Owens-Illinois, Inc. has a 1-year low of $17.31 and a 1-year high of $25.90. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 5.73. The firm has a market capitalization of $3,836.81, a PE ratio of 9.05, a price-to-earnings-growth ratio of 1.23 and a beta of 1.53.

Owens-Illinois (NYSE:OI) last posted its quarterly earnings data on Monday, October 23rd. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.04. Owens-Illinois had a return on equity of 63.33% and a net margin of 3.59%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the firm earned $0.68 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. sell-side analysts forecast that Owens-Illinois, Inc. will post 2.64 EPS for the current year.

A number of equities research analysts have commented on the company. ValuEngine upgraded Owens-Illinois from a “buy” rating to a “strong-buy” rating in a report on Friday, October 13th. Zacks Investment Research cut Owens-Illinois from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. UBS initiated coverage on Owens-Illinois in a report on Tuesday, September 5th. They set a “neutral” rating and a $26.00 target price on the stock. Robert W. Baird raised their price objective on Owens-Illinois from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Finally, KeyCorp restated a “hold” rating on shares of Owens-Illinois in a report on Friday, November 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $26.45.

In related news, SVP Moyano Giancarlo Currarino sold 1,360 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $23.97, for a total value of $32,599.20. Following the transaction, the senior vice president now directly owns 23,954 shares of the company’s stock, valued at approximately $574,177.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sergio B.O. Galindo sold 5,477 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $24.93, for a total value of $136,541.61. Following the completion of the transaction, the insider now directly owns 34,890 shares in the company, valued at $869,807.70. The disclosure for this sale can be found here. Insiders have sold 10,337 shares of company stock worth $252,651 in the last 90 days. Insiders own 1.50% of the company’s stock.

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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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