Owens-Illinois Inc (OI) Position Cut by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

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Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its holdings in shares of Owens-Illinois Inc (NYSE:OI) by 2.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,064 shares of the industrial products company’s stock after selling 784 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Owens-Illinois were worth $514,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. North Star Investment Management Corp. raised its position in Owens-Illinois by 105.7% during the 1st quarter. North Star Investment Management Corp. now owns 2,160 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 1,110 shares in the last quarter. Destination Wealth Management bought a new stake in Owens-Illinois during the 4th quarter valued at $41,000. Legacy Advisors LLC bought a new stake in Owens-Illinois during the 1st quarter valued at $48,000. Alpha Omega Wealth Management LLC raised its position in Owens-Illinois by 59.3% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 2,637 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 982 shares in the last quarter. Finally, NumerixS Investment Technologies Inc bought a new stake in Owens-Illinois during the 4th quarter valued at $53,000. Institutional investors own 93.79% of the company’s stock.

In related news, SVP Moyano Giancarlo Currarino sold 57,560 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $19.68, for a total transaction of $1,132,780.80. Following the transaction, the senior vice president now directly owns 63,508 shares of the company’s stock, valued at approximately $1,249,837.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Timothy M. Connors sold 44,715 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $19.55, for a total value of $874,178.25. Following the transaction, the insider now directly owns 48,105 shares in the company, valued at $940,452.75. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

OI has been the subject of a number of research analyst reports. ValuEngine raised Owens-Illinois from a “strong sell” rating to a “sell” rating in a research report on Tuesday, April 30th. Bank of America raised Owens-Illinois from a “neutral” rating to a “buy” rating and lifted their target price for the company from $21.00 to $24.00 in a research report on Tuesday, April 30th. UFS raised Owens-Illinois from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 30th. TheStreet lowered Owens-Illinois from a “b” rating to a “c+” rating in a research report on Monday, March 11th. Finally, Wells Fargo & Co raised Owens-Illinois from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $20.00 to $24.00 in a research report on Wednesday, May 15th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Owens-Illinois has a consensus rating of “Hold” and an average price target of $21.81.

OI opened at $16.84 on Monday. The firm has a market capitalization of $2.61 billion, a PE ratio of 6.19, a P/E/G ratio of 0.86 and a beta of 1.35. The company has a debt-to-equity ratio of 5.76, a current ratio of 1.39 and a quick ratio of 0.83. Owens-Illinois Inc has a 12 month low of $15.67 and a 12 month high of $20.78.

Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.02). The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.65 billion. Owens-Illinois had a return on equity of 43.45% and a net margin of 3.53%. The company’s revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 earnings per share. Research analysts expect that Owens-Illinois Inc will post 2.91 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, May 30th. Owens-Illinois’s payout ratio is 7.35%.

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Owens-Illinois Company Profile

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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