Tocqueville Asset Management L.P. Holds Position in Owens-Illinois, Inc. (OI)
Tocqueville Asset Management L.P. continued to hold its stake in Owens-Illinois, Inc. (NYSE:OI) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 19,533 shares of the industrial products company’s stock at the end of the second quarter. Tocqueville Asset Management L.P.’s holdings in Owens-Illinois were worth $467,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its stake in Owens-Illinois by 104.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,635 shares of the industrial products company’s stock worth $110,000 after buying an additional 2,366 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Owens-Illinois during the second quarter worth about $113,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in 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 worth $165,000 after buying an additional 4,300 shares in the last quarter. American National Insurance Co. TX purchased a new stake in Owens-Illinois during the second quarter worth about $227,000. Finally, Bank of Montreal Can raised its stake in Owens-Illinois by 17.7% in the first quarter. Bank of Montreal Can now owns 10,830 shares of the industrial products company’s stock worth $221,000 after buying an additional 1,632 shares in the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.
Shares of Owens-Illinois, Inc. (NYSE OI) opened at 24.12 on Wednesday. The company has a market capitalization of $3.93 billion, a P/E ratio of 17.48 and a beta of 1.50. 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 of $24.18 and a 200 day moving average of $22.02.
Owens-Illinois (NYSE:OI) last posted its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.77 billion. Owens-Illinois had a return on equity of 72.15% and a net margin of 3.36%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 EPS. On average, analysts anticipate that Owens-Illinois, Inc. will post $2.63 EPS for the current year.
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A number of equities research analysts have recently issued reports on the stock. BidaskClub lowered shares of Owens-Illinois from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. BMO Capital Markets restated a “hold” rating and set a $25.00 price target on shares of Owens-Illinois in a report on Sunday. Barclays PLC boosted their price target on shares of Owens-Illinois from $22.00 to $25.00 and gave the company an “equal weight” rating in a report on Monday, August 7th. Jefferies Group LLC reiterated a “hold” rating and issued a $27.00 price objective (up previously from $26.00) on shares of Owens-Illinois in a research note on Wednesday, August 2nd. Finally, ValuEngine lowered shares of Owens-Illinois from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $25.38.
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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