First Wilshire Securities Management Inc. Reduces Stake in Owens-Illinois Inc (OI)

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First Wilshire Securities Management Inc. cut its position in Owens-Illinois Inc (NYSE:OI) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 252,412 shares of the industrial products company’s stock after selling 4,500 shares during the quarter. Owens-Illinois accounts for 1.6% of First Wilshire Securities Management Inc.’s holdings, making the stock its 24th largest holding. First Wilshire Securities Management Inc.’s holdings in Owens-Illinois were worth $4,352,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of OI. Contrarius Investment Management Ltd boosted its holdings in Owens-Illinois by 266.0% in the fourth quarter. Contrarius Investment Management Ltd now owns 1,503,761 shares of the industrial products company’s stock valued at $25,925,000 after purchasing an additional 1,092,905 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Owens-Illinois by 1,600.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,085,810 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 1,021,967 shares during the period. WINTON GROUP Ltd purchased a new position in Owens-Illinois in the fourth quarter valued at $10,877,000. AQR Capital Management LLC boosted its holdings in Owens-Illinois by 877.8% in the third quarter. AQR Capital Management LLC now owns 551,367 shares of the industrial products company’s stock valued at $10,360,000 after purchasing an additional 494,978 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in Owens-Illinois by 15.9% in the third quarter. Thrivent Financial for Lutherans now owns 3,105,150 shares of the industrial products company’s stock valued at $58,345,000 after purchasing an additional 425,347 shares during the period. 96.50% of the stock is owned by institutional investors and hedge funds.

OI opened at $19.60 on Thursday. The company has a debt-to-equity ratio of 5.76, a quick ratio of 0.61 and a current ratio of 1.07. Owens-Illinois Inc has a one year low of $15.67 and a one year high of $22.62. The stock has a market cap of $3.05 billion, a PE ratio of 7.24, a PEG ratio of 0.91 and a beta of 1.36.

Owens-Illinois (NYSE:OI) last posted its earnings results on Tuesday, February 5th. The industrial products company reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.01). Owens-Illinois had a return on equity of 44.17% and a net margin of 3.75%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the firm posted $0.55 EPS. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, equities research analysts anticipate that Owens-Illinois Inc will post 2.94 EPS for the current year.

In related news, insider Timothy M. Connors sold 44,715 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $19.55, for a total value of $874,178.25. Following the transaction, the insider now owns 48,105 shares in the company, valued at approximately $940,452.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Moyano Giancarlo Currarino sold 57,560 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $19.68, for a total value of $1,132,780.80. Following the transaction, the senior vice president now owns 63,508 shares in the company, valued at approximately $1,249,837.44. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.

A number of brokerages have issued reports on OI. KeyCorp downgraded Owens-Illinois from a “sector weight” rating to an “underweight” rating and set a $16.00 price target for the company. in a report on Monday, December 3rd. Zacks Investment Research raised Owens-Illinois from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Wednesday, January 2nd. Citigroup downgraded Owens-Illinois from a “buy” rating to a “neutral” rating in a report on Monday, January 7th. Barclays downgraded Owens-Illinois from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $25.00 to $20.00 in a report on Monday, January 7th. Finally, ValuEngine raised Owens-Illinois from a “strong sell” rating to a “sell” rating in a report on Thursday, January 24th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Owens-Illinois presently has a consensus rating of “Hold” and a consensus price target of $21.39.

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About Owens-Illinois

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

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