Owens-Illinois, Inc. (OI) Position Boosted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its position in shares of Owens-Illinois, Inc. (NYSE:OI) by 0.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,844 shares of the industrial products company’s stock after buying an additional 1,099 shares during the period. PNC Financial Services Group Inc.’s holdings in Owens-Illinois were worth $2,666,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Baird Financial Group Inc. raised its stake in Owens-Illinois by 1.8% in the first quarter. Baird Financial Group Inc. now owns 26,834 shares of the industrial products company’s stock worth $547,000 after buying an additional 463 shares during the period. State Treasurer State of Michigan raised its stake in Owens-Illinois by 0.9% in the first quarter. State Treasurer State of Michigan now owns 65,900 shares of the industrial products company’s stock worth $1,343,000 after buying an additional 600 shares during the period. Advantus Capital Management Inc raised its stake in Owens-Illinois by 3.0% in the first quarter. Advantus Capital Management Inc now owns 20,767 shares of the industrial products company’s stock worth $423,000 after buying an additional 609 shares during the period. First Republic Investment Management Inc. raised its stake in Owens-Illinois by 0.4% in the fourth quarter. First Republic Investment Management Inc. now owns 162,524 shares of the industrial products company’s stock worth $2,830,000 after buying an additional 626 shares during the period. Finally, CIBC World Markets Inc. raised its stake in Owens-Illinois by 1.1% in the first quarter. CIBC World Markets Inc. now owns 55,642 shares of the industrial products company’s stock worth $1,134,000 after buying an additional 627 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Owens-Illinois (NYSE:OI)

Shares of Owens-Illinois, Inc. (NYSE:OI) traded down 0.73% during mid-day trading on Tuesday, hitting $23.02. The company’s stock had a trading volume of 158,883 shares. Owens-Illinois, Inc. has a 1-year low of $16.18 and a 1-year high of $23.34. The company has a 50-day moving average of $22.32 and a 200 day moving average of $20.22. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 19.78 and a beta of 1.46.

Owens-Illinois (NYSE:OI) last posted its earnings results on Monday, April 24th. The industrial products company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05. Owens-Illinois had a return on equity of 80.74% and a net margin of 2.84%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, analysts expect that Owens-Illinois, Inc. will post $2.49 EPS for the current year.

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A number of research firms have issued reports on OI. Zacks Investment Research raised Owens-Illinois from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Wednesday, June 14th. TheStreet raised Owens-Illinois from a “c+” rating to a “b” rating in a report on Thursday, May 4th. Barclays PLC raised their target price on Owens-Illinois from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Monday, May 1st. ValuEngine lowered Owens-Illinois from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 3rd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $20.00 target price (up previously from $19.00) on shares of Owens-Illinois in a report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Owens-Illinois currently has a consensus rating of “Hold” and a consensus target price of $24.78.

About Owens-Illinois

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “OI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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