Glen Harbor Capital Management LLC Purchases 91,308 Shares of Owens-Illinois Inc (OI)

Glen Harbor Capital Management LLC grew its position in shares of Owens-Illinois Inc (NYSE:OI) by 376.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 115,556 shares of the industrial products company’s stock after buying an additional 91,308 shares during the quarter. Glen Harbor Capital Management LLC’s holdings in Owens-Illinois were worth $2,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Bank of Montreal Can grew its holdings in shares of Owens-Illinois by 10,107.7% during the 4th quarter. Bank of Montreal Can now owns 1,015,977 shares of the industrial products company’s stock worth $22,524,000 after purchasing an additional 1,006,024 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Owens-Illinois by 3.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 833,064 shares of the industrial products company’s stock worth $18,470,000 after purchasing an additional 31,057 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Owens-Illinois during the 4th quarter worth $303,000. SG Americas Securities LLC grew its holdings in shares of Owens-Illinois by 507.6% during the 4th quarter. SG Americas Securities LLC now owns 69,282 shares of the industrial products company’s stock worth $1,536,000 after purchasing an additional 57,880 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of Owens-Illinois by 17.2% during the 4th quarter. IFP Advisors Inc now owns 19,143 shares of the industrial products company’s stock worth $424,000 after purchasing an additional 2,812 shares in the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.

In related news, SVP Moyano Giancarlo Currarino sold 11,910 shares of the firm’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $22.57, for a total value of $268,808.70. Following the sale, the senior vice president now directly owns 28,070 shares of the company’s stock, valued at $633,539.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Several analysts have recently issued reports on the company. ValuEngine lowered Owens-Illinois from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 16th. Wells Fargo & Co raised Owens-Illinois from an “underperform” rating to a “market perform” rating in a report on Thursday. TheStreet raised Owens-Illinois from a “c” rating to a “b-” rating in a report on Monday, April 23rd. Zacks Investment Research raised Owens-Illinois from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, April 19th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Owens-Illinois in a research note on Tuesday, April 24th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. Owens-Illinois currently has an average rating of “Hold” and an average target price of $25.54.

NYSE:OI opened at $19.10 on Friday. The stock has a market capitalization of $3.05 billion, a P/E ratio of 7.09, a price-to-earnings-growth ratio of 1.17 and a beta of 1.42. The company has a current ratio of 1.33, a quick ratio of 0.82 and a debt-to-equity ratio of 5.04. Owens-Illinois Inc has a twelve month low of $17.95 and a twelve month high of $25.90.

Owens-Illinois (NYSE:OI) last released its quarterly earnings data on Monday, April 23rd. The industrial products company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.70 billion. Owens-Illinois had a return on equity of 46.76% and a net margin of 3.30%. Owens-Illinois’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the firm posted $0.58 earnings per share. equities analysts predict that Owens-Illinois Inc will post 2.8 EPS for the current fiscal year.

Owens-Illinois announced that its Board of Directors has approved a share buyback plan on Tuesday, February 6th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Owens-Illinois Profile

Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Europe, North America, Latin America, and the Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.

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

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