OxFORD Asset Management LLP boosted its holdings in shares of Owens-Illinois, Inc. (NYSE:OI) by 20.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 766,804 shares of the industrial products company’s stock after acquiring an additional 131,581 shares during the period. Owens-Illinois accounts for 0.5% of OxFORD Asset Management LLP’s portfolio, making the stock its 14th largest position. OxFORD Asset Management LLP owned 0.47% of Owens-Illinois worth $19,293,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in OI. Contrarius Investment Management Ltd acquired a new position in shares of Owens-Illinois during the 2nd quarter worth approximately $4,183,000. Arizona State Retirement System grew its position in shares of Owens-Illinois by 1.6% during the 2nd quarter. Arizona State Retirement System now owns 68,600 shares of the industrial products company’s stock worth $1,641,000 after purchasing an additional 1,100 shares in the last quarter. FMR LLC boosted its position in shares of Owens-Illinois by 37.4% during the 2nd quarter. FMR LLC now owns 1,446,740 shares of the industrial products company’s stock worth $34,606,000 after acquiring an additional 393,560 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Owens-Illinois by 9.6% during the 2nd quarter. Alliancebernstein L.P. now owns 109,724 shares of the industrial products company’s stock worth $2,625,000 after acquiring an additional 9,650 shares in the last quarter. Finally, Westover Capital Advisors LLC acquired a new stake in shares of Owens-Illinois during the 2nd quarter worth approximately $628,000. 93.73% of the stock is owned by institutional investors.
OI has been the topic of several analyst reports. Royal Bank of Canada reiterated a “hold” rating and set a $25.00 price target on shares of Owens-Illinois in a research report on Wednesday, September 6th. Bank of America raised their price target on shares of Owens-Illinois from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. KeyCorp reaffirmed a “hold” rating on shares of Owens-Illinois in a research note on Monday, October 30th. TheStreet downgraded shares of Owens-Illinois from a “b” rating to a “c+” rating in a research note on Wednesday, October 25th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $25.00 price objective on shares of Owens-Illinois in a research report on Sunday, August 27th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $26.36.
Shares of Owens-Illinois, Inc. (NYSE:OI) opened at $22.28 on Friday. The stock has a market cap of $3,631.44, a P/E ratio of 8.57, a PEG ratio of 1.21 and a beta of 1.52. Owens-Illinois, Inc. has a 12-month low of $17.31 and a 12-month high of $25.90. The company has a debt-to-equity ratio of 5.73, a current ratio of 1.23 and a quick ratio of 0.74.
Owens-Illinois (NYSE:OI) last issued its quarterly earnings data on Monday, October 23rd. The industrial products company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.73 by $0.04. Owens-Illinois had a net margin of 3.59% and a return on equity of 63.33%. The company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the company earned $0.68 earnings per share. Owens-Illinois’s revenue for the quarter was up 5.1% on a year-over-year basis. sell-side analysts expect that Owens-Illinois, Inc. will post 2.64 EPS for the current year.
In other Owens-Illinois news, insider Timothy M. Connors sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $23.86, for a total value of $83,510.00. Following the completion of the transaction, the insider now owns 19,624 shares of the company’s stock, valued at approximately $468,228.64. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.50% of the stock is owned by insiders.
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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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