Convergence Investment Partners LLC decreased its position in Owens-Illinois, Inc. (NYSE:OI) by 24.9% during the second quarter, Holdings Channel reports. The institutional investor owned 157,887 shares of the industrial products company’s stock after selling 52,373 shares during the period. Convergence Investment Partners LLC’s holdings in Owens-Illinois were worth $3,777,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. State Treasurer State of Michigan boosted its stake in Owens-Illinois by 0.9% in the first quarter. State Treasurer State of Michigan now owns 65,900 shares of the industrial products company’s stock worth $1,343,000 after buying an additional 600 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Owens-Illinois by 0.3% in the first quarter. Great West Life Assurance Co. Can now owns 7,813,380 shares of the industrial products company’s stock worth $158,919,000 after buying an additional 26,764 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Owens-Illinois by 79.0% in the first quarter. Canada Pension Plan Investment Board now owns 110,100 shares of the industrial products company’s stock worth $2,244,000 after buying an additional 48,600 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Owens-Illinois by 117.2% in the first quarter. Wells Fargo & Company MN now owns 283,274 shares of the industrial products company’s stock worth $5,773,000 after buying an additional 152,839 shares in the last quarter. Finally, DUPONT CAPITAL MANAGEMENT Corp purchased a new position in shares of Owens-Illinois during the first quarter worth approximately $4,720,000. Institutional investors own 95.29% of the company’s stock.

Shares of Owens-Illinois, Inc. (NYSE OI) opened at 23.45 on Friday. Owens-Illinois, Inc. has a 52 week low of $16.80 and a 52 week high of $25.02. The firm has a 50 day moving average price of $24.14 and a 200 day moving average price of $21.70. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of 16.99 and a beta of 1.50.

Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.75 earnings per share for the quarter, beating 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 revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS. Equities analysts forecast that Owens-Illinois, Inc. will post $2.63 EPS for the current year.

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OI has been the topic of a number of research reports. TheStreet raised Owens-Illinois from a “c+” rating to a “b” rating in a report on Thursday, May 4th. Citigroup Inc. dropped their price objective on Owens-Illinois from $28.00 to $24.00 and set an “underweight” rating for the company in a research report on Friday, April 14th. Royal Bank Of Canada restated a “hold” rating and set a $22.00 price objective on shares of Owens-Illinois in a research report on Thursday, July 6th. BidaskClub upgraded Owens-Illinois from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Zacks Investment Research downgraded Owens-Illinois from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $26.44.

About Owens-Illinois

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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Institutional Ownership by Quarter for Owens-Illinois (NYSE:OI)

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