Riverhead Capital Management LLC increased its holdings in shares of Owens-Illinois Inc (NYSE:OI) by 32.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,878 shares of the industrial products company’s stock after buying an additional 12,285 shares during the period. Riverhead Capital Management LLC’s holdings in Owens-Illinois were worth $862,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Marshall Wace North America L.P. acquired a new position in shares of Owens-Illinois during the first quarter worth about $25,000. First Quadrant L P CA acquired a new position in shares of Owens-Illinois during the second quarter worth $25,000. Zions Bancorporation N.A. acquired a new position in shares of Owens-Illinois during the first quarter worth $46,000. Steward Partners Investment Advisory LLC purchased a new position in Owens-Illinois in the second quarter valued at $56,000. Finally, Oppenheimer Asset Management Inc. increased its holdings in Owens-Illinois by 15.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 6,560 shares of the industrial products company’s stock valued at $113,000 after buying an additional 879 shares during the last quarter. 91.70% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the company. Citigroup decreased their price target on Owens-Illinois from $19.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. KeyCorp dropped their price objective on Owens-Illinois from $16.00 to $11.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Credit Suisse Group cut their target price on Owens-Illinois from $24.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday. UBS Group cut their target price on Owens-Illinois from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Goldman Sachs Group upgraded Owens-Illinois from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $17.00 to $13.00 in a research note on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $17.70.
OI traded down $0.26 during trading on Wednesday, hitting $10.69. 132,823 shares of the stock were exchanged, compared to its average volume of 1,936,093. The firm has a market capitalization of $1.71 billion, a P/E ratio of 3.93, a PEG ratio of 1.36 and a beta of 1.56. Owens-Illinois Inc has a 1-year low of $9.58 and a 1-year high of $20.78. The stock has a fifty day moving average price of $12.01 and a two-hundred day moving average price of $16.64. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 5.72.
Owens-Illinois (NYSE:OI) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.07). The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.76 billion. Owens-Illinois had a net margin of 3.76% and a return on equity of 39.73%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.77 earnings per share. Analysts predict that Owens-Illinois Inc will post 2.45 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.05 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.20 dividend on an annualized basis and a yield of 1.87%. Owens-Illinois’s dividend payout ratio is presently 7.35%.
In other Owens-Illinois news, Director Carol A. Williams bought 10,000 shares of Owens-Illinois stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $12.21 per share, with a total value of $122,100.00. Following the completion of the acquisition, the director now owns 60,761 shares of the company’s stock, valued at $741,891.81. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.90% of the company’s stock.
Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Americas, Europe, and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. The company is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals.
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