Comerica Bank grew its holdings in shares of Owens-Illinois Inc (NYSE:OI) by 22.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 409,959 shares of the industrial products company’s stock after acquiring an additional 73,976 shares during the quarter. Comerica Bank’s holdings in Owens-Illinois were worth $9,298,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of OI. Alliancebernstein L.P. raised its holdings in shares of Owens-Illinois by 9.6% during the second quarter. Alliancebernstein L.P. now owns 109,724 shares of the industrial products company’s stock worth $2,625,000 after purchasing an additional 9,650 shares during the period. UBS Asset Management Americas Inc. increased its holdings in shares of Owens-Illinois by 13.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 168,712 shares of the industrial products company’s stock worth $4,036,000 after acquiring an additional 19,777 shares during the period. Northern Trust Corp increased its holdings in shares of Owens-Illinois by 0.3% in the 2nd quarter. Northern Trust Corp now owns 1,506,408 shares of the industrial products company’s stock worth $36,034,000 after acquiring an additional 4,383 shares during the period. FMR LLC increased its holdings in shares of Owens-Illinois by 37.4% in the 2nd quarter. FMR LLC now owns 1,446,740 shares of the industrial products company’s stock worth $34,606,000 after acquiring an additional 393,560 shares during the period. Finally, Suntrust Banks Inc. increased its holdings in shares of Owens-Illinois by 8.4% in the 2nd quarter. Suntrust Banks Inc. now owns 16,604 shares of the industrial products company’s stock worth $395,000 after acquiring an additional 1,290 shares during the period. 94.88% of the stock is currently owned by institutional investors.

A number of analysts recently weighed in on OI shares. Bank of America increased their price objective on shares of Owens-Illinois from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. TheStreet cut shares of Owens-Illinois from a “b” rating to a “c+” rating in a report on Wednesday, October 25th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $26.00 price objective on shares of Owens-Illinois in a report on Thursday, December 14th. KeyCorp reaffirmed a “hold” rating on shares of Owens-Illinois in a report on Friday, November 10th. Finally, Zacks Investment Research raised shares of Owens-Illinois from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $26.36.

Owens-Illinois Inc (OI) opened at $22.54 on Thursday. The stock has a market cap of $3,670.00, a PE ratio of 15.13, a P/E/G ratio of 1.13 and a beta of 1.46. The company has a debt-to-equity ratio of 5.73, a current ratio of 1.23 and a quick ratio of 0.74. Owens-Illinois Inc has a 12-month low of $19.12 and a 12-month high of $25.90.

Owens-Illinois (NYSE:OI) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.72 billion. Owens-Illinois had a net margin of 3.59% and a return on equity of 63.33%. Owens-Illinois’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 EPS. equities analysts forecast that Owens-Illinois Inc will post 2.63 earnings per share for the current fiscal year.

Owens-Illinois declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 6th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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Owens-Illinois Profile

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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