Owens-Illinois Inc (OI) Shares Bought by Prudential Financial Inc.
Prudential Financial Inc. raised its holdings in shares of Owens-Illinois Inc (NYSE:OI) by 15.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,916,784 shares of the industrial products company’s stock after acquiring an additional 513,679 shares during the quarter. Prudential Financial Inc. owned approximately 2.40% of Owens-Illinois worth $98,546,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FMR LLC lifted its holdings in shares of Owens-Illinois by 37.4% during the second quarter. FMR LLC now owns 1,446,740 shares of the industrial products company’s stock worth $34,606,000 after buying an additional 393,560 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Owens-Illinois by 9.6% during the second quarter. Alliancebernstein L.P. now owns 109,724 shares of the industrial products company’s stock worth $2,625,000 after buying an additional 9,650 shares during the last quarter. Westover Capital Advisors LLC acquired a new position in shares of Owens-Illinois during the second quarter worth approximately $628,000. AJO LP lifted its holdings in shares of Owens-Illinois by 1,024.9% during the second quarter. AJO LP now owns 277,503 shares of the industrial products company’s stock worth $6,638,000 after buying an additional 252,833 shares during the last quarter. Finally, Parametrica Management Ltd acquired a new position in shares of Owens-Illinois in the third quarter valued at $613,000. 93.58% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on OI. ValuEngine upgraded Owens-Illinois from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 13th. Zacks Investment Research lowered Owens-Illinois from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Robert W. Baird upped their price target on Owens-Illinois from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Bank of America upped their price target on Owens-Illinois from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Finally, KeyCorp restated a “hold” rating on shares of Owens-Illinois in a report on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $26.36.
Shares of Owens-Illinois Inc (NYSE OI) opened at $22.57 on Thursday. The company has a market capitalization of $3,613.51, a PE ratio of 15.35, a PEG ratio of 1.13 and a beta of 1.53. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 5.73. Owens-Illinois Inc has a 1 year low of $18.03 and a 1 year high of $25.90.
Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Monday, October 23rd. The industrial products company reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.04. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. Owens-Illinois had a return on equity of 63.33% and a net margin of 3.59%. Owens-Illinois’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 earnings per share. research analysts forecast that Owens-Illinois Inc will post 2.64 EPS for the current year.
In related news, insider Timothy M. Connors sold 3,500 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $23.86, for a total transaction of $83,510.00. Following the completion of the transaction, the insider now directly owns 19,624 shares in the company, valued at $468,228.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.50% of the stock is currently owned by company insiders.
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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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