Trillium Asset Management LLC Acquires 55,600 Shares of Owens-Illinois Inc (OI)
Trillium Asset Management LLC grew its holdings in Owens-Illinois Inc (NYSE:OI) by 18.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 358,872 shares of the industrial products company’s stock after purchasing an additional 55,600 shares during the period. Trillium Asset Management LLC owned about 0.23% of Owens-Illinois worth $6,743,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Xact Kapitalforvaltning AB increased its holdings in Owens-Illinois by 28.9% in the second quarter. Xact Kapitalforvaltning AB now owns 27,669 shares of the industrial products company’s stock valued at $465,000 after buying an additional 6,200 shares in the last quarter. Atria Investments LLC increased its holdings in Owens-Illinois by 41.2% in the second quarter. Atria Investments LLC now owns 26,589 shares of the industrial products company’s stock valued at $447,000 after buying an additional 7,757 shares in the last quarter. Bank of Montreal Can increased its holdings in Owens-Illinois by 1.9% in the second quarter. Bank of Montreal Can now owns 1,208,807 shares of the industrial products company’s stock valued at $20,320,000 after buying an additional 22,402 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Owens-Illinois in the second quarter valued at about $172,000. Finally, Hartford Investment Management Co. purchased a new position in Owens-Illinois in the second quarter valued at about $168,000. Institutional investors own 91.73% of the company’s stock.
OI has been the subject of a number of recent research reports. Robert W. Baird dropped their price objective on shares of Owens-Illinois from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, July 25th. Bank of America set a $22.00 price objective on shares of Owens-Illinois and gave the stock a “hold” rating in a research note on Wednesday, July 25th. Zacks Investment Research cut shares of Owens-Illinois from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Wells Fargo & Co dropped their price objective on shares of Owens-Illinois from $20.00 to $18.00 and set a “market perform” rating for the company in a research note on Thursday, November 1st. Finally, Credit Suisse Group dropped their price objective on shares of Owens-Illinois from $32.00 to $24.00 and set an “outperform” rating for the company in a research note on Monday, November 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Owens-Illinois presently has a consensus rating of “Hold” and a consensus target price of $23.49.
Owens-Illinois (NYSE:OI) last released its earnings results on Tuesday, October 30th. The industrial products company reported $0.75 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Owens-Illinois had a net margin of 1.94% and a return on equity of 43.27%. Owens-Illinois’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 EPS. As a group, sell-side analysts expect that Owens-Illinois Inc will post 2.73 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 12th. Shareholders of record on Tuesday, January 22nd will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, January 18th. This represents a $0.20 annualized dividend and a yield of 1.14%.
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Owens-Illinois Company Profile
Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Europe, North America, Latin America, and the Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.
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