Mid Atlantic Financial Management Inc. ADV trimmed its position in Owens-Illinois Inc (NYSE:OI) by 5.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,060 shares of the industrial products company’s stock after selling 1,045 shares during the period. Mid Atlantic Financial Management Inc. ADV’s holdings in Owens-Illinois were worth $312,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Marshall Wace North America L.P. acquired a new position in shares of Owens-Illinois during the first quarter worth approximately $25,000. First Quadrant L P CA purchased a new position in shares of Owens-Illinois during the 2nd quarter valued at about $25,000. Zions Bancorporation N.A. purchased a new position in shares of Owens-Illinois during the 1st quarter valued at about $46,000. Alpha Omega Wealth Management LLC lifted its holdings in Owens-Illinois by 59.3% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 2,637 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 982 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in Owens-Illinois in the 2nd quarter worth approximately $56,000. Institutional investors and hedge funds own 90.77% of the company’s stock.
In other Owens-Illinois news, Director Carol A. Williams acquired 10,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $12.21 per share, with a total value 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.90% of the company’s stock.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.07). The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.76 billion. Owens-Illinois had a net margin of 3.76% and a return on equity of 39.73%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company earned $0.77 EPS. As a group, research analysts anticipate that Owens-Illinois Inc will post 2.45 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.04%. The ex-dividend date is Thursday, August 29th. Owens-Illinois’s dividend payout ratio (DPR) is presently 7.35%.
Several analysts have recently issued reports on OI shares. Goldman Sachs Group raised Owens-Illinois from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $17.00 to $13.00 in a report on Monday, August 5th. KeyCorp decreased their price objective on Owens-Illinois from $16.00 to $11.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Citigroup decreased their price objective on Owens-Illinois from $19.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Wells Fargo & Co raised Owens-Illinois from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $20.00 to $24.00 in a report on Wednesday, May 15th. Finally, ValuEngine cut Owens-Illinois from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Owens-Illinois presently has an average rating of “Hold” and a consensus target price of $18.89.
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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