PNC Financial Services Group Inc. decreased its holdings in Owens-Illinois Inc (NYSE:OI) by 72.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,186 shares of the industrial products company’s stock after selling 342,417 shares during the period. PNC Financial Services Group Inc. owned about 0.08% of Owens-Illinois worth $2,238,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of OI. TLP Group LLC grew its holdings in shares of Owens-Illinois by 188,750.0% in the first quarter. TLP Group LLC now owns 7,554 shares of the industrial products company’s stock worth $164,000 after acquiring an additional 7,550 shares during the period. Hartford Investment Management Co. bought a new stake in shares of Owens-Illinois in the second quarter worth $168,000. Fox Run Management L.L.C. bought a new stake in shares of Owens-Illinois in the second quarter worth $172,000. Sei Investments Co. lifted its position in Owens-Illinois by 56.3% during the first quarter. Sei Investments Co. now owns 11,665 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 4,200 shares in the last quarter. Finally, Gideon Capital Advisors Inc. purchased a new position in Owens-Illinois during the first quarter valued at $299,000. 93.34% of the stock is owned by institutional investors and hedge funds.
OI has been the topic of several analyst reports. Citigroup lowered their target price on Owens-Illinois from $29.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, July 10th. TheStreet downgraded Owens-Illinois from a “b-” rating to a “c” rating in a research report on Wednesday, June 6th. Barclays lowered their target price on Owens-Illinois from $25.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 27th. Bank of America set a $22.00 target price on Owens-Illinois and gave the company a “hold” rating in a research report on Wednesday, July 25th. Finally, Wells Fargo & Co upgraded Owens-Illinois from an “underperform” rating to a “market perform” rating in a research report on Thursday, May 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Owens-Illinois has a consensus rating of “Hold” and an average price target of $23.99.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Monday, July 23rd. The industrial products company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.03. Owens-Illinois had a return on equity of 45.52% and a net margin of 2.01%. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the business earned $0.75 earnings per share. equities research analysts anticipate that Owens-Illinois Inc will post 2.75 EPS for the current year.
Owens-Illinois Company 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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