Northwestern Mutual Investment Management Company LLC Sells 21,776 Shares of Owens-Illinois, Inc. (OI)
Northwestern Mutual Investment Management Company LLC lowered its stake in shares of Owens-Illinois, Inc. (NYSE:OI) by 77.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,176 shares of the industrial products company’s stock after selling 21,776 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Owens-Illinois were worth $111,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Owens-Illinois by 7.5% during the first quarter. Vanguard Group Inc. now owns 16,401,514 shares of the industrial products company’s stock worth $334,263,000 after acquiring an additional 1,139,389 shares in the last quarter. BlackRock Inc. lifted its position in shares of Owens-Illinois by 16,329.5% during the first quarter. BlackRock Inc. now owns 14,655,477 shares of the industrial products company’s stock worth $298,679,000 after acquiring an additional 14,566,275 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Owens-Illinois by 1.6% during the second quarter. Great West Life Assurance Co. Can now owns 7,939,045 shares of the industrial products company’s stock worth $189,411,000 after acquiring an additional 125,665 shares in the last quarter. State Street Corp lifted its position in shares of Owens-Illinois by 4.9% during the first quarter. State Street Corp now owns 7,353,692 shares of the industrial products company’s stock worth $149,869,000 after acquiring an additional 343,321 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its position in shares of Owens-Illinois by 11.6% during the second quarter. Federated Investors Inc. PA now owns 1,932,751 shares of the industrial products company’s stock worth $46,231,000 after acquiring an additional 201,242 shares in the last quarter. Hedge funds and other institutional investors own 95.06% of the company’s stock.
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OI has been the topic of several recent research reports. Zacks Investment Research downgraded Owens-Illinois from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. ValuEngine cut shares of Owens-Illinois from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 3rd. BidaskClub raised shares of Owens-Illinois from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $22.00 price target on shares of Owens-Illinois in a report on Thursday, July 6th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $26.00 price target (up previously from $20.00) on shares of Owens-Illinois in a report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Owens-Illinois currently has an average rating of “Hold” and an average target price of $25.60.
In other Owens-Illinois news, SVP Moyano Giancarlo Currarino sold 1,360 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $23.97, for a total value of $32,599.20. Following the sale, the senior vice president now owns 23,954 shares in the company, valued at approximately $574,177.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sergio B.O. Galindo sold 5,477 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $24.93, for a total transaction of $136,541.61. Following the completion of the sale, the insider now owns 34,890 shares in the company, valued at approximately $869,807.70. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
Owens-Illinois, Inc. (NYSE:OI) opened at 24.21 on Friday. The company has a 50-day moving average price of $24.18 and a 200-day moving average price of $22.58. The company has a market cap of $3.94 billion, a PE ratio of 17.54 and a beta of 1.51. Owens-Illinois, Inc. has a 1-year low of $16.80 and a 1-year high of $25.08.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Owens-Illinois had a net margin of 3.36% and a return on equity of 72.15%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 EPS. On average, analysts expect that Owens-Illinois, Inc. will post $2.63 EPS for the current fiscal year.
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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