Trinity Street Asset Management LLP lessened its stake in Owens-Illinois Inc (NYSE:OI) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and 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 about 3.7% of Trinity Street Asset Management LLP’s portfolio, making the stock its 17th biggest position. Trinity Street Asset Management LLP owned 0.78% of Owens-Illinois worth $28,037,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Acrospire Investment Management LLC boosted its position in shares of Owens-Illinois by 163.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 6,714 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 4,169 shares in the last quarter. Flinton Capital Management LLC raised its stake in Owens-Illinois by 74.4% during the 2nd quarter. Flinton Capital Management LLC now owns 7,200 shares of the industrial products company’s stock worth $172,000 after buying an additional 3,072 shares during the period. Sei Investments Co. raised its stake in Owens-Illinois by 61.2% during the 3rd quarter. Sei Investments Co. now owns 7,376 shares of the industrial products company’s stock worth $186,000 after buying an additional 2,799 shares during the period. Biltmore Wealth Management LLC acquired a new position in Owens-Illinois during the 3rd quarter worth approximately $201,000. Finally, Neuberger Berman Group LLC acquired a new position in Owens-Illinois during the 3rd quarter worth approximately $211,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.
In other news, insider Timothy M. Connors sold 3,500 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was 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 directly owns 19,624 shares of the company’s stock, valued at $468,228.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.
Shares of Owens-Illinois Inc (NYSE OI) traded up $0.10 during midday trading on Tuesday, reaching $22.70. The company’s stock had a trading volume of 1,216,300 shares, compared to its average volume of 1,416,464. Owens-Illinois Inc has a 1-year low of $18.39 and a 1-year high of $25.90. The company has a market capitalization of $3,683.60, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 1.16 and a beta of 1.53. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 5.73.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Monday, October 23rd. The industrial products company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.04. Owens-Illinois had a return on equity of 63.33% and a net margin of 3.59%. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the company earned $0.68 earnings per share. Owens-Illinois’s revenue was up 5.1% compared to the same quarter last year. equities research analysts anticipate that Owens-Illinois Inc will post 2.64 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on the company. ValuEngine raised Owens-Illinois from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 13th. Zacks Investment Research downgraded Owens-Illinois from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Robert W. Baird increased their price objective on Owens-Illinois from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. UBS Group reissued a “neutral” rating and issued a $27.00 price objective (up from $26.00) on shares of Owens-Illinois in a research note on Tuesday, October 24th. Finally, KeyCorp reissued a “hold” rating on shares of Owens-Illinois in a research note on Friday, November 10th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Owens-Illinois presently has an average rating of “Hold” and a consensus price target of $26.36.
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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.
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