Owens-Illinois, Inc. (OI) Stake Decreased by World Asset Management Inc
World Asset Management Inc cut its stake in Owens-Illinois, Inc. (NYSE:OI) by 2.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 13,215 shares of the industrial products company’s stock after selling 401 shares during the period. World Asset Management Inc’s holdings in Owens-Illinois were worth $316,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Acadian Asset Management LLC acquired a new stake in shares of Owens-Illinois during the second quarter valued at approximately $113,000. James Investment Research Inc. acquired a new stake in shares of Owens-Illinois during the first quarter valued at approximately $149,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of Owens-Illinois by 113.2% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,100 shares of the industrial products company’s stock valued at $165,000 after buying an additional 4,300 shares during the period. Private Advisor Group LLC acquired a new stake in shares of Owens-Illinois during the first quarter valued at approximately $196,000. Finally, Telemus Capital LLC acquired a new stake in shares of Owens-Illinois during the first quarter valued at approximately $202,000. 94.79% of the stock is owned by institutional investors and hedge funds.
Owens-Illinois, Inc. (OI) opened at 23.97 on Tuesday. The stock has a 50 day moving average price of $24.16 and a 200-day moving average price of $21.77. Owens-Illinois, Inc. has a 1-year low of $16.80 and a 1-year high of $25.02. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 17.37 and a beta of 1.50.
Owens-Illinois (NYSE:OI) last issued its earnings results on Monday, July 31st. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08. Owens-Illinois had a net margin of 3.36% and a return on equity of 72.15%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the business posted $0.65 EPS. Owens-Illinois’s revenue was down .5% on a year-over-year basis. Equities analysts predict that Owens-Illinois, Inc. will post $2.63 earnings per share for the current year.
Several analysts have recently commented on the company. Barclays PLC raised their target price on Owens-Illinois from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday, May 1st. Zacks Investment Research cut Owens-Illinois from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. ValuEngine cut Owens-Illinois from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 3rd. BMO Capital Markets reissued a “hold” rating and set a $20.00 price objective on shares of Owens-Illinois in a research report on Friday, April 21st. Finally, BidaskClub raised Owens-Illinois from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $24.75.
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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