Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $608,000 Position in Owens-Illinois Inc (OI)
Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its holdings in Owens-Illinois Inc (NYSE:OI) by 25.9% in the third quarter, HoldingsChannel reports. The firm owned 32,354 shares of the industrial products company’s stock after selling 11,294 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Owens-Illinois were worth $608,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. SRS Capital Advisors Inc. bought a new position in Owens-Illinois in the third quarter valued at $109,000. Point72 Hong Kong Ltd grew its position in Owens-Illinois by 99,050.0% in the second quarter. Point72 Hong Kong Ltd now owns 7,932 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 7,924 shares in the last quarter. Acadian Asset Management LLC bought a new position in Owens-Illinois in the third quarter valued at $152,000. US Bancorp DE grew its position in Owens-Illinois by 77.6% in the third quarter. US Bancorp DE now owns 8,146 shares of the industrial products company’s stock valued at $153,000 after purchasing an additional 3,558 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Owens-Illinois in the third quarter valued at $170,000. 91.59% of the stock is owned by institutional investors and hedge funds.
OI has been the subject of a number of analyst reports. Bank of America raised shares of Owens-Illinois from a “neutral” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Friday, November 9th. Wells Fargo & Co decreased their target price on shares of Owens-Illinois from $20.00 to $18.00 and set a “market perform” rating for the company in a research report on Thursday, November 1st. Credit Suisse Group decreased their target price on shares of Owens-Illinois from $32.00 to $24.00 and set an “outperform” rating for the company in a research report on Monday, November 12th. Zacks Investment Research downgraded shares of Owens-Illinois from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Finally, KeyCorp downgraded shares of Owens-Illinois from a “sector weight” rating to an “underweight” rating and set a $16.00 target price for the company. in a research report on Monday, December 3rd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $22.81.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates 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%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 earnings per share. As a group, equities research analysts predict that Owens-Illinois Inc will post 2.73 earnings per share for the current fiscal year.
The company also recently declared 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. This represents a $0.20 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Friday, January 18th.
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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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