Russell Investments Group Ltd. boosted its position in Owens-Illinois, Inc. (NYSE:OI) by 30.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,551,011 shares of the industrial products company’s stock after buying an additional 360,742 shares during the period. Russell Investments Group Ltd. owned about 0.95% of Owens-Illinois worth $37,101,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of OI. BlackRock Inc. raised its position in shares of Owens-Illinois by 16,329.5% in the first quarter. BlackRock Inc. now owns 14,655,477 shares of the industrial products company’s stock worth $298,679,000 after buying an additional 14,566,275 shares during the period. Norges Bank bought a new position in shares of Owens-Illinois during the fourth quarter valued at $26,472,000. Vanguard Group Inc. raised its position in shares of Owens-Illinois by 7.5% in the first quarter. Vanguard Group Inc. now owns 16,401,514 shares of the industrial products company’s stock valued at $334,263,000 after buying an additional 1,139,389 shares during the last quarter. FMR LLC raised its position in shares of Owens-Illinois by 918.1% in the first quarter. FMR LLC now owns 1,053,180 shares of the industrial products company’s stock valued at $21,464,000 after buying an additional 949,734 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Owens-Illinois by 33.6% in the first quarter. Prudential Financial Inc. now owns 3,776,681 shares of the industrial products company’s stock valued at $76,969,000 after buying an additional 949,286 shares during the last quarter. Institutional investors and hedge funds own 94.79% of the company’s stock.
Shares of Owens-Illinois, Inc. (NYSE:OI) traded down 0.50% during trading on Friday, reaching $23.90. 1,062,172 shares of the company traded hands. Owens-Illinois, Inc. has a 12 month low of $16.80 and a 12 month high of $25.02. The firm has a market capitalization of $3.89 billion, a PE ratio of 17.32 and a beta of 1.50. The firm has a 50-day moving average price of $24.21 and a 200-day moving average price of $21.87.
Owens-Illinois (NYSE:OI) last posted its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The firm had revenue of $1.75 billion for 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 company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 EPS. Equities research analysts anticipate that Owens-Illinois, Inc. will post $2.63 EPS for the current year.
Several research analysts have weighed in on OI shares. TheStreet upgraded shares of Owens-Illinois from a “c+” rating to a “b” rating in a research report on Thursday, May 4th. Deutsche Bank AG restated a “hold” rating and set a $24.00 target price (up from $20.00) on shares of Owens-Illinois in a research report on Saturday, April 29th. BidaskClub downgraded shares of Owens-Illinois from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $20.00 price target (up previously from $19.00) on shares of Owens-Illinois in a report on Wednesday, April 26th. Finally, Zacks Investment Research downgraded shares of Owens-Illinois from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $24.75.
Owens-Illinois Company 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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