OI has been the subject of several other research reports. Zacks Investment Research cut Owens-Illinois from a buy rating to a hold rating in a report on Tuesday, September 26th. UBS AG assumed coverage on Owens-Illinois in a report on Tuesday, September 5th. They issued a neutral rating and a $26.00 price objective for the company. Robert W. Baird restated a hold rating and issued a $25.00 price objective on shares of Owens-Illinois in a report on Friday, September 1st. BidaskClub upgraded Owens-Illinois from a hold rating to a buy rating in a report on Thursday, June 29th. Finally, ValuEngine cut Owens-Illinois from a strong-buy rating to a buy rating in a report on Friday, September 22nd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $25.60.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Owens-Illinois had a return on equity of 72.15% and a net margin of 3.36%. Owens-Illinois’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS.
In related news, SVP Moyano Giancarlo Currarino sold 1,360 shares of the firm’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $23.97, for a total value of $32,599.20. Following the completion of the sale, the senior vice president now directly owns 23,954 shares in the company, valued at approximately $574,177.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sergio B.O. Galindo sold 5,477 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $24.93, for a total transaction of $136,541.61. Following the completion of the sale, the insider now owns 34,890 shares of the company’s stock, valued at $869,807.70. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
Large investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale lifted its stake in Owens-Illinois by 104.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,635 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 2,366 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Owens-Illinois during the second quarter worth approximately $113,000. Acrospire Investment Management LLC lifted its position in Owens-Illinois by 163.8% during the second quarter. Acrospire Investment Management LLC now owns 6,714 shares of the industrial products company’s stock worth $161,000 after acquiring an additional 4,169 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. lifted its position in Owens-Illinois by 113.2% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,100 shares of the industrial products company’s stock worth $165,000 after acquiring an additional 4,300 shares during the last quarter. Finally, Flinton Capital Management LLC lifted its position in Owens-Illinois by 74.4% during the second quarter. Flinton Capital Management LLC now owns 7,200 shares of the industrial products company’s stock worth $172,000 after acquiring an additional 3,072 shares during the last quarter. Institutional investors and hedge funds own 95.06% of the company’s stock.
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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