Oarsman Capital Inc. boosted its position in Owens-Illinois Inc (NYSE:OI) by 3.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 248,242 shares of the industrial products company’s stock after purchasing an additional 9,287 shares during the period. Owens-Illinois comprises 2.4% of Oarsman Capital Inc.’s investment portfolio, making the stock its 3rd biggest position. Oarsman Capital Inc. owned approximately 0.15% of Owens-Illinois worth $5,504,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of OI. Sei Investments Co. grew its position in Owens-Illinois by 61.2% in the 3rd quarter. Sei Investments Co. now owns 7,376 shares of the industrial products company’s stock worth $186,000 after purchasing an additional 2,799 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Owens-Illinois by 43.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,889 shares of the industrial products company’s stock valued at $197,000 after acquiring an additional 2,702 shares during the period. Biltmore Wealth Management LLC bought a new position in shares of Owens-Illinois during the 3rd quarter valued at approximately $201,000. Neuberger Berman Group LLC bought a new position in shares of Owens-Illinois during the 3rd quarter valued at approximately $211,000. Finally, Alps Advisors Inc. bought a new position in shares of Owens-Illinois during the 3rd quarter valued at approximately $214,000. 95.64% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently weighed in on OI shares. Zacks Investment Research raised shares of Owens-Illinois from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Royal Bank of Canada reissued a “hold” rating and set a $26.00 target price on shares of Owens-Illinois in a research report on Thursday, December 14th. TheStreet downgraded shares of Owens-Illinois from a “b” rating to a “c+” rating in a research report on Wednesday, October 25th. UBS Group reissued a “neutral” rating and set a $27.00 target price (up from $26.00) on shares of Owens-Illinois in a research report on Tuesday, October 24th. Finally, KeyCorp reissued a “hold” rating on shares of Owens-Illinois in a research report on Friday, November 10th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Owens-Illinois has a consensus rating of “Hold” and a consensus price target of $26.15.
Shares of Owens-Illinois Inc (NYSE:OI) opened at $21.27 on Thursday. The company has a market cap of $3,419.55, a P/E ratio of 19.34, a P/E/G ratio of 1.12 and a beta of 1.46. The company has a debt-to-equity ratio of 5.52, a quick ratio of 0.61 and a current ratio of 1.06. Owens-Illinois Inc has a 52 week low of $19.12 and a 52 week high of $25.90.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Owens-Illinois had a net margin of 2.65% and a return on equity of 53.60%. Owens-Illinois’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.50 EPS. research analysts predict that Owens-Illinois Inc will post 2.81 earnings per share for the current fiscal year.
Owens-Illinois announced that its Board of Directors has approved a share buyback plan on Tuesday, February 6th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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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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