Bank of America lowered shares of Owens-Illinois (NYSE:OI) from a buy rating to a neutral rating in a report released on Friday, BenzingaRatingsTable reports.
Other equities research analysts have also recently issued reports about the company. ValuEngine cut Owens-Illinois from a sell rating to a strong sell rating in a research report on Thursday. Wells Fargo & Co raised Owens-Illinois from a market perform rating to an outperform rating and raised their target price for the stock from $20.00 to $24.00 in a research report on Wednesday, May 15th. Finally, UFS raised Owens-Illinois from a neutral rating to a buy rating in a research report on Tuesday, April 30th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $19.63.
Shares of OI traded down $0.48 during mid-day trading on Friday, hitting $12.38. The company’s stock had a trading volume of 4,662,020 shares, compared to its average volume of 712,993. Owens-Illinois has a one year low of $12.35 and a one year high of $20.78. The company has a debt-to-equity ratio of 5.76, a current ratio of 1.39 and a quick ratio of 0.83. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 4.55, a PEG ratio of 0.86 and a beta of 1.41. The business has a 50-day moving average of $16.98.
Owens-Illinois (NYSE:OI) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.07). Owens-Illinois had a net margin of 3.76% and a return on equity of 40.71%. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the company posted $0.77 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. Research analysts expect that Owens-Illinois will post 2.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.20 annualized dividend and a yield of 1.62%. Owens-Illinois’s dividend payout ratio (DPR) is currently 7.35%.
Hedge funds have recently modified their holdings of the stock. First Allied Advisory Services Inc. lifted its holdings in shares of Owens-Illinois by 4.2% during the fourth quarter. First Allied Advisory Services Inc. now owns 15,904 shares of the industrial products company’s stock valued at $273,000 after acquiring an additional 648 shares during the period. Moors & Cabot Inc. lifted its holdings in shares of Owens-Illinois by 6.6% during the first quarter. Moors & Cabot Inc. now owns 12,150 shares of the industrial products company’s stock valued at $230,000 after acquiring an additional 750 shares during the period. Eagle Asset Management Inc. lifted its holdings in shares of Owens-Illinois by 5.1% during the first quarter. Eagle Asset Management Inc. now owns 17,423 shares of the industrial products company’s stock valued at $330,000 after acquiring an additional 846 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in shares of Owens-Illinois by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 63,860 shares of the industrial products company’s stock valued at $1,103,000 after acquiring an additional 878 shares during the period. Finally, Alpha Omega Wealth Management LLC lifted its holdings in shares of Owens-Illinois by 59.3% during the first quarter. Alpha Omega Wealth Management LLC now owns 2,637 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 982 shares during the period. 92.28% of the stock is owned by hedge funds and other institutional investors.
Owens-Illinois Company Profile
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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