Owens-Illinois, Inc. (OI) Stake Lessened by Commonwealth Bank of Australia

Commonwealth Bank of Australia lessened its stake in Owens-Illinois, Inc. (NYSE:OI) by 5.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,485 shares of the industrial products company’s stock after selling 1,300 shares during the quarter. Commonwealth Bank of Australia’s holdings in Owens-Illinois were worth $537,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of OI. Bank of Montreal Can raised its stake in shares of Owens-Illinois by 17.7% in the 1st quarter. Bank of Montreal Can now owns 10,830 shares of the industrial products company’s stock valued at $221,000 after purchasing an additional 1,632 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Owens-Illinois by 117.2% in the 1st quarter. Wells Fargo & Company MN now owns 283,274 shares of the industrial products company’s stock valued at $5,773,000 after purchasing an additional 152,839 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Owens-Illinois by 79.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 110,100 shares of the industrial products company’s stock valued at $2,244,000 after purchasing an additional 48,600 shares in the last quarter. State Treasurer State of Michigan raised its stake in shares of Owens-Illinois by 0.9% in the 1st quarter. State Treasurer State of Michigan now owns 65,900 shares of the industrial products company’s stock valued at $1,343,000 after purchasing an additional 600 shares in the last quarter. Finally, Suntrust Banks Inc. acquired a new stake in shares of Owens-Illinois in the 1st quarter valued at about $311,000. Institutional investors and hedge funds own 95.06% of the company’s stock.

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In other news, insider Sergio B.O. Galindo sold 5,477 shares of the firm’s stock in a transaction dated 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 approximately $869,807.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Moyano Giancarlo Currarino sold 1,360 shares of the stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $23.97, for a total transaction of $32,599.20. Following the sale, the senior vice president now owns 23,954 shares of the company’s stock, valued at approximately $574,177.38. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

Shares of Owens-Illinois, Inc. (NYSE OI) opened at 24.65 on Monday. The company’s 50 day moving average is $24.16 and its 200-day moving average is $22.49. The company has a market cap of $4.01 billion, a P/E ratio of 17.86 and a beta of 1.51. Owens-Illinois, Inc. has a 12 month low of $16.80 and a 12 month high of $25.08.

Owens-Illinois (NYSE:OI) last released its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 3.36% and a return on equity of 72.15%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. Analysts expect that Owens-Illinois, Inc. will post $2.63 EPS for the current fiscal year.

A number of equities research analysts have recently issued reports on the stock. 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 lowered shares of Owens-Illinois from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. ValuEngine lowered shares of Owens-Illinois from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 3rd. Robert W. Baird restated a “hold” rating and issued a $25.00 target price on shares of Owens-Illinois in a research note 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 analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $25.50.

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.

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

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