Thrivent Financial For Lutherans increased its position in Owens-Illinois, Inc. (NYSE:OI) by 30.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,929,740 shares of the industrial products company’s stock after acquiring an additional 688,720 shares during the quarter. Thrivent Financial For Lutherans owned about 1.80% of Owens-Illinois worth $70,080,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its position in shares of Owens-Illinois by 0.4% in the second quarter. PNC Financial Services Group Inc. now owns 131,323 shares of the industrial products company’s stock valued at $3,140,000 after acquiring an additional 479 shares during the period. Laurion Capital Management LP purchased a new position in shares of Owens-Illinois during the second quarter worth approximately $2,323,000. Amalgamated Bank raised its stake in shares of Owens-Illinois by 25.9% during the second quarter. Amalgamated Bank now owns 32,667 shares of the industrial products company’s stock worth $781,000 after acquiring an additional 6,722 shares in the last quarter. BlackRock Inc. raised its stake 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 worth $362,806,000 after acquiring an additional 512,032 shares in the last quarter. Finally, Nationwide Fund Advisors raised its stake in shares of Owens-Illinois by 0.9% during the second quarter. Nationwide Fund Advisors now owns 670,495 shares of the industrial products company’s stock worth $16,038,000 after acquiring an additional 5,890 shares in the last quarter. Institutional investors own 95.05% of the company’s stock.
Owens-Illinois, Inc. (NYSE OI) traded down 0.76% during midday trading on Friday, reaching $24.65. 1,436,494 shares of the company traded hands. The stock has a market capitalization of $4.01 billion, a P/E ratio of 17.86 and a beta of 1.51. The firm has a 50-day moving average of $24.16 and a 200-day moving average of $22.49. Owens-Illinois, Inc. has a 1-year low of $16.80 and a 1-year high of $25.08.
Owens-Illinois (NYSE:OI) last issued its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.08. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.77 billion. Owens-Illinois had a return on equity of 72.15% and a net margin of 3.36%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 earnings per share. On average, analysts predict that Owens-Illinois, Inc. will post $2.63 earnings per share for the current year.
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In other Owens-Illinois news, 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 transaction, the insider now owns 34,890 shares of the company’s stock, valued at $869,807.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Moyano Giancarlo Currarino sold 1,360 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $23.97, for a total value of $32,599.20. Following the transaction, the senior vice president now directly owns 23,954 shares in the company, valued at approximately $574,177.38. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
Several research analysts recently commented on OI shares. UBS AG assumed coverage on shares of Owens-Illinois in a research note on Tuesday, September 5th. They issued a “neutral” rating and a $26.00 target price on the stock. Zacks Investment Research cut shares of Owens-Illinois from a “buy” rating to a “hold” rating in a 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. Robert W. Baird restated a “hold” rating and set a $25.00 target price on shares of Owens-Illinois in a report on Friday, September 1st. Finally, BidaskClub upgraded shares of Owens-Illinois from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Owens-Illinois presently has a consensus rating of “Hold” and a consensus target price of $25.50.
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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