Prudential PLC reduced its holdings in Owens-Illinois, Inc. (NYSE:OI) by 58.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 405,513 shares of the industrial products company’s stock after selling 578,372 shares during the quarter. Prudential PLC owned 0.25% of Owens-Illinois worth $9,700,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings 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 valued at $334,263,000 after acquiring an additional 1,139,389 shares during the period. BlackRock Inc. raised its holdings in shares of Owens-Illinois by 3.5% during the second quarter. BlackRock Inc. now owns 15,167,509 shares of the industrial products company’s stock valued at $362,806,000 after acquiring an additional 512,032 shares during the period. Great West Life Assurance Co. Can raised its holdings 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 valued at $189,411,000 after acquiring an additional 125,665 shares during the period. State Street Corp raised its holdings 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 valued at $149,869,000 after acquiring an additional 343,321 shares during the period. Finally, Thrivent Financial For Lutherans raised its holdings in shares of Owens-Illinois by 30.7% during the second quarter. Thrivent Financial For Lutherans now owns 2,929,740 shares of the industrial products company’s stock valued at $70,080,000 after acquiring an additional 688,720 shares during the period. Institutional investors and hedge funds own 95.06% of the company’s stock.

A number of equities research analysts have recently issued reports on OI shares. Royal Bank Of Canada restated a “hold” rating and set a $22.00 price target on shares of Owens-Illinois in a report on Thursday, July 6th. BidaskClub raised shares of Owens-Illinois from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Robert W. Baird reaffirmed a “hold” rating and set a $25.00 price objective on shares of Owens-Illinois in a research report on Friday, September 1st. UBS AG started coverage on shares of Owens-Illinois in a research report on Tuesday, September 5th. They set a “neutral” rating and a $26.00 price objective on the stock. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $25.00 price objective on shares of Owens-Illinois in a research report on Sunday, August 27th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $25.60.

In related news, SVP Moyano Giancarlo Currarino sold 1,360 shares of the firm’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 completion of the transaction, the senior vice president now directly owns 23,954 shares of the company’s stock, valued at $574,177.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sergio B.O. Galindo sold 5,477 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $24.93, for a total transaction of $136,541.61. Following the completion of the transaction, the insider now directly owns 34,890 shares of the company’s stock, valued at $869,807.70. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

Shares of Owens-Illinois, Inc. (NYSE OI) opened at 25.44 on Friday. The firm has a 50-day moving average of $24.46 and a 200 day moving average of $23.01. Owens-Illinois, Inc. has a 52-week low of $16.80 and a 52-week high of $25.59. The company has a market capitalization of $4.14 billion, a P/E ratio of 18.43 and a beta of 1.49.

Owens-Illinois (NYSE:OI) last posted its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company earned $0.65 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. On average, analysts anticipate that Owens-Illinois, Inc. will post $2.63 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Prudential PLC Reduces Position in Owens-Illinois, Inc. (OI)” was first posted by Watch List News and is owned by of Watch List News. If you are reading this story on another publication, it was copied illegally and reposted in violation of international trademark & copyright law. The legal version of this story can be accessed at https://www.watchlistnews.com/prudential-plc-reduces-position-in-owens-illinois-inc-oi/1617783.html.

Owens-Illinois 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.

Want to see what other hedge funds are holding OI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Owens-Illinois, Inc. (NYSE:OI).

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

Receive News & Ratings for Owens-Illinois Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens-Illinois Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.