Employees Retirement System of Texas Increases Stake in Owens-Illinois, Inc. (OI)
Employees Retirement System of Texas raised its stake in Owens-Illinois, Inc. (NYSE:OI) by 6,433.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 392,000 shares of the company’s stock after buying an additional 386,000 shares during the period. Employees Retirement System of Texas owned 0.24% of Owens-Illinois worth $6,825,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. LS Investment Advisors LLC boosted its position in Owens-Illinois by 6.6% in the third quarter. LS Investment Advisors LLC now owns 7,094 shares of the company’s stock worth $130,000 after buying an additional 441 shares during the period. Tower Research Capital LLC TRC bought a new position in Owens-Illinois during the third quarter worth approximately $134,000. Virtus Investment Advisers Inc. bought a new position in Owens-Illinois during the third quarter worth approximately $140,000. CrestPoint Capital Management LLC bought a new position in Owens-Illinois during the third quarter worth approximately $210,000. Finally, Gateway Investment Advisers LLC boosted its position in Owens-Illinois by 0.4% in the third quarter. Gateway Investment Advisers LLC now owns 11,616 shares of the company’s stock worth $214,000 after buying an additional 51 shares during the period. 96.65% of the stock is owned by institutional investors.
Shares of Owens-Illinois, Inc. (NYSE:OI) traded down 0.56% during mid-day trading on Thursday, reaching $19.65. The company had a trading volume of 973,341 shares. Owens-Illinois, Inc. has a 12-month low of $13.74 and a 12-month high of $20.33. The stock has a 50 day moving average price of $19.09 and a 200 day moving average price of $18.41. The firm has a market capitalization of $3.19 billion, a PE ratio of 15.39 and a beta of 1.48.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Wednesday, February 1st. The company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.03. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Owens-Illinois had a return on equity of 86.07% and a net margin of 3.12%. Owens-Illinois’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $0.40 EPS. On average, equities analysts forecast that Owens-Illinois, Inc. will post $2.42 earnings per share for the current year.
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A number of equities analysts have commented on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $19.00 price objective on shares of Owens-Illinois in a research report on Tuesday, February 7th. Credit Suisse Group reaffirmed a “buy” rating and set a $28.00 price objective on shares of Owens-Illinois in a research report on Sunday, February 5th. Zacks Investment Research raised shares of Owens-Illinois from a “sell” rating to a “hold” rating in a research report on Tuesday, January 24th. RBC Capital Markets reaffirmed a “hold” rating and set a $19.00 price objective on shares of Owens-Illinois in a research report on Wednesday, January 4th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $20.00 price objective (up from $18.73) on shares of Owens-Illinois in a research report on Tuesday, November 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $21.67.
Owens-Illinois Company Profile
Owens-Illinois, Inc is engaged in the manufacturing of glass containers. The Company’s principal product lines are glass containers for the food and beverage industries. Its segments include Europe, North America, Latin America and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine.
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