Nisa Investment Advisors LLC Purchases 4,400 Shares of Owens-Illinois Inc. (OI)
Nisa Investment Advisors LLC boosted its stake in shares of Owens-Illinois Inc. (NYSE:OI) by 15.4% during the second quarter, Holdings Channel reports. The institutional investor owned 33,000 shares of the company’s stock after buying an additional 4,400 shares during the period. Nisa Investment Advisors LLC’s holdings in Owens-Illinois were worth $594,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Owens-Illinois during the fourth quarter valued at approximately $32,989,000. Chevy Chase Trust Holdings Inc. raised its position in shares of Owens-Illinois by 5.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 137,009 shares of the company’s stock valued at $2,187,000 after buying an additional 7,071 shares in the last quarter. Boston Advisors LLC purchased a new position in shares of Owens-Illinois during the first quarter valued at approximately $7,214,000. PGGM Investments raised its position in shares of Owens-Illinois by 2.5% in the first quarter. PGGM Investments now owns 109,104 shares of the company’s stock valued at $1,741,000 after buying an additional 2,645 shares in the last quarter. Finally, KLCM Advisors Inc. raised its position in shares of Owens-Illinois by 1.1% in the first quarter. KLCM Advisors Inc. now owns 582,501 shares of the company’s stock valued at $9,297,000 after buying an additional 6,331 shares in the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.
Owens-Illinois Inc. (NYSE:OI) traded down 3.67% during midday trading on Friday, hitting $17.32. The company’s stock had a trading volume of 2,675,014 shares. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 14.45 and a beta of 2.02. The company’s 50-day moving average is $18.41 and its 200 day moving average is $17.78. Owens-Illinois Inc. has a one year low of $11.58 and a one year high of $24.05.
Owens-Illinois (NYSE:OI) last issued its earnings results on Wednesday, July 27th. The company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.02. Owens-Illinois had a positive return on equity of 67.16% and a negative net margin of 0.20%. The business earned $1.76 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the business earned $0.60 EPS. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, analysts predict that Owens-Illinois Inc. will post $2.32 EPS for the current year.
OI has been the subject of several analyst reports. Goldman Sachs Group Inc. restated a “sell” rating and set a $18.00 price target on shares of Owens-Illinois in a report on Wednesday, June 1st. TheStreet upgraded Owens-Illinois from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. Citigroup Inc. restated a “buy” rating and set a $22.00 price target on shares of Owens-Illinois in a report on Friday, July 1st. Jefferies Group raised their price target on Owens-Illinois from $18.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, July 14th. Finally, Zacks Investment Research upgraded Owens-Illinois from a “sell” rating to a “hold” rating in a report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $21.38.
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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