Trinity Street Asset Management LLP Trims Stake in Owens-Illinois Inc (OI)

Trinity Street Asset Management LLP cut its holdings in Owens-Illinois Inc (NYSE:OI) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,264,667 shares of the industrial products company’s stock after selling 15,881 shares during the period. Owens-Illinois comprises 3.7% of Trinity Street Asset Management LLP’s holdings, making the stock its 17th largest holding. Trinity Street Asset Management LLP owned approximately 0.78% of Owens-Illinois worth $28,037,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Advisor Group Inc. increased its holdings in shares of Owens-Illinois by 0.9% in the 2nd quarter. Advisor Group Inc. now owns 16,417 shares of the industrial products company’s stock worth $393,000 after buying an additional 150 shares during the last quarter. First Allied Advisory Services Inc. grew its holdings in Owens-Illinois by 2.4% during the 2nd quarter. First Allied Advisory Services Inc. now owns 11,600 shares of the industrial products company’s stock valued at $277,000 after purchasing an additional 270 shares during the last quarter. Moors & Cabot Inc. grew its holdings in Owens-Illinois by 1.5% during the 2nd quarter. Moors & Cabot Inc. now owns 30,050 shares of the industrial products company’s stock valued at $724,000 after purchasing an additional 450 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Owens-Illinois by 0.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 131,323 shares of the industrial products company’s stock valued at $3,140,000 after purchasing an additional 479 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in Owens-Illinois by 1.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 48,688 shares of the industrial products company’s stock valued at $1,165,000 after purchasing an additional 875 shares during the last quarter. Hedge funds and other institutional investors own 93.59% of the company’s stock.

In other Owens-Illinois news, insider Timothy M. Connors sold 3,500 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $23.86, for a total value of $83,510.00. Following the transaction, the insider now directly owns 19,624 shares in the company, valued at approximately $468,228.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is owned by corporate insiders.

OI has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Owens-Illinois from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. Royal Bank of Canada reiterated a “hold” rating and set a $26.00 price target on shares of Owens-Illinois in a report on Thursday, December 14th. TheStreet downgraded shares of Owens-Illinois from a “b” rating to a “c+” rating in a report on Wednesday, October 25th. UBS Group reiterated a “neutral” rating and set a $27.00 price target (up from $26.00) on shares of Owens-Illinois in a report on Tuesday, October 24th. Finally, ValuEngine downgraded shares of Owens-Illinois from a “strong-buy” rating to a “buy” rating in a report on Friday, September 22nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Owens-Illinois has an average rating of “Hold” and an average price target of $26.36.

Shares of Owens-Illinois Inc (NYSE:OI) traded up $0.17 during mid-day trading on Tuesday, reaching $22.44. 1,445,300 shares of the company’s stock were exchanged, compared to its average volume of 1,404,333. The company has a debt-to-equity ratio of 5.73, a current ratio of 1.23 and a quick ratio of 0.74. The company has a market cap of $3,660.00, a P/E ratio of 15.06, a P/E/G ratio of 1.15 and a beta of 1.53. Owens-Illinois Inc has a twelve month low of $18.39 and a twelve month high of $25.90.

Owens-Illinois (NYSE:OI) last issued its earnings results on Monday, October 23rd. The industrial products company reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.04. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.77 billion. Owens-Illinois had a net margin of 3.59% and a return on equity of 63.33%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. analysts expect that Owens-Illinois Inc will post 2.64 earnings per share for the current fiscal year.

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Owens-Illinois 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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