Owens-Illinois Inc (NYSE:OI) Plans $0.05 Quarterly Dividend

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Owens-Illinois Inc (NYSE:OI) declared a quarterly dividend on Monday, October 28th, RTT News reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.05 per share by the industrial products company on Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a yield of 2.30%.

OI stock opened at $8.68 on Wednesday. The stock has a 50-day moving average price of $9.98 and a two-hundred day moving average price of $14.33. The stock has a market cap of $1.69 billion, a PE ratio of 3.19, a price-to-earnings-growth ratio of 1.44 and a beta of 1.52. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 5.72. Owens-Illinois has a 1 year low of $8.51 and a 1 year high of $20.78.

Owens-Illinois (NYSE:OI) last released its earnings results on Monday, October 28th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.01). The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.74 billion. Owens-Illinois had a positive return on equity of 36.80% and a negative net margin of 6.58%. Owens-Illinois’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the company posted $0.75 EPS. On average, analysts forecast that Owens-Illinois will post 2.3 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on OI shares. Bank of America cut Owens-Illinois from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. BMO Capital Markets set a $17.00 price objective on shares of Owens-Illinois and gave the stock a “hold” rating in a research note on Thursday, September 12th. UBS Group reduced their price objective on shares of Owens-Illinois from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. ValuEngine upgraded shares of Owens-Illinois from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Co reduced their price objective on shares of Owens-Illinois from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Owens-Illinois presently has a consensus rating of “Hold” and a consensus price target of $15.80.

In other Owens-Illinois news, Director Carol A. Williams acquired 10,000 shares of Owens-Illinois stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $12.21 per share, for a total transaction of $122,100.00. Following the purchase, the director now directly owns 60,761 shares in the company, valued at approximately $741,891.81. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate 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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