Fruth Investment Management raised its holdings in shares of Owens-Illinois Inc (NYSE:OI) by 4.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,150 shares of the industrial products company’s stock after acquiring an additional 2,800 shares during the quarter. Fruth Investment Management’s holdings in Owens-Illinois were worth $638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the business. Marshall Wace North America L.P. bought a new position in shares of Owens-Illinois in the first quarter worth $25,000. First Quadrant L P CA bought a new position in shares of Owens-Illinois in the second quarter worth $25,000. Private Capital Group LLC increased its holdings in shares of Owens-Illinois by 75.5% in the second quarter. Private Capital Group LLC now owns 2,662 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 1,145 shares during the period. Steward Partners Investment Advisory LLC bought a new position in shares of Owens-Illinois in the second quarter worth $56,000. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Owens-Illinois by 15.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 6,560 shares of the industrial products company’s stock worth $113,000 after purchasing an additional 879 shares during the period. 91.62% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Carol A. Williams bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $12.21 per share, for a total transaction of $122,100.00. Following the completion of the transaction, the director now owns 60,761 shares of the company’s stock, valued at $741,891.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is currently owned by insiders.
Several research firms have recently weighed in on OI. Bank of America cut shares of Owens-Illinois from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. BMO Capital Markets set a $17.00 price target on shares of Owens-Illinois and gave the stock a “hold” rating in a report on Thursday, September 12th. Credit Suisse Group decreased their price target on shares of Owens-Illinois from $24.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. UBS Group decreased their price target on shares of Owens-Illinois from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Finally, Goldman Sachs Group raised shares of Owens-Illinois from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $17.00 to $13.00 in a report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $17.00.
Shares of Owens-Illinois stock traded up $0.28 during trading on Wednesday, hitting $9.20. The stock had a trading volume of 114,472 shares, compared to its average volume of 1,474,166. Owens-Illinois Inc has a 12 month low of $8.91 and a 12 month high of $20.78. The business’s 50-day moving average is $10.05 and its 200 day moving average is $15.30. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 3.38, a P/E/G ratio of 1.20 and a beta of 1.52. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 5.72.
Owens-Illinois (NYSE:OI) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.07). Owens-Illinois had a return on equity of 39.73% and a net margin of 3.76%. The company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the firm posted $0.77 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. As a group, equities analysts expect that Owens-Illinois Inc will post 2.37 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a $0.05 dividend. The ex-dividend date was Thursday, August 29th. This represents a $0.20 annualized dividend and a yield of 2.17%. Owens-Illinois’s dividend payout ratio (DPR) is presently 7.35%.
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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