Sigma Planning Corp increased its stake in Owens-Illinois Inc (NYSE:OI) by 9.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,799 shares of the industrial products company’s stock after acquiring an additional 1,007 shares during the period. Sigma Planning Corp’s holdings in Owens-Illinois were worth $204,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Stevens Capital Management LP boosted its holdings in Owens-Illinois by 13.7% in the 2nd quarter. Stevens Capital Management LP now owns 79,104 shares of the industrial products company’s stock valued at $1,366,000 after purchasing an additional 9,518 shares in the last quarter. Barnett & Company Inc. acquired a new stake in shares of Owens-Illinois during the 2nd quarter valued at approximately $498,000. Janney Montgomery Scott LLC lifted its position in shares of Owens-Illinois by 214.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 57,207 shares of the industrial products company’s stock valued at $988,000 after acquiring an additional 39,017 shares during the period. SG Americas Securities LLC lifted its position in shares of Owens-Illinois by 101.0% during the 2nd quarter. SG Americas Securities LLC now owns 30,944 shares of the industrial products company’s stock valued at $534,000 after acquiring an additional 15,549 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of Owens-Illinois during the 2nd quarter valued at approximately $56,000. Institutional investors and hedge funds own 90.77% of the company’s stock.
Shares of Owens-Illinois stock opened at $9.76 on Friday. The company has a debt-to-equity ratio of 5.72, a current ratio of 1.53 and a quick ratio of 1.00. Owens-Illinois Inc has a 1 year low of $9.73 and a 1 year high of $20.78. The company has a market capitalization of $1.61 billion, a P/E ratio of 4.04, a P/E/G ratio of 1.29 and a beta of 1.41. The business has a 50 day moving average price of $14.50 and a 200 day moving average price of $17.50.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.20 annualized dividend and a dividend yield of 2.05%. Owens-Illinois’s dividend payout ratio is currently 7.35%.
A number of research firms have recently issued reports on OI. UFS upgraded shares of Owens-Illinois from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 30th. Bank of America downgraded shares of Owens-Illinois from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Citigroup reduced their price target on shares of Owens-Illinois from $19.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. KeyCorp reduced their price target on shares of Owens-Illinois from $16.00 to $11.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Finally, Goldman Sachs Group upgraded shares of Owens-Illinois from a “sell” rating to a “neutral” rating and reduced their price target for the company from $17.00 to $13.00 in a research report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $18.89.
In related news, Director Carol A. Williams acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $12.21 per share, for a total transaction of $122,100.00. Following the transaction, the director now directly owns 60,761 shares of the company’s stock, valued at approximately $741,891.81. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.90% of the company’s stock.
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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