Zweig DiMenna Associates LLC purchased a new position in shares of Owens-Illinois, Inc. (NYSE:OI) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,300 shares of the industrial products company’s stock, valued at approximately $284,000.
Other large investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale boosted its stake in Owens-Illinois by 104.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,635 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 2,366 shares during the period. Acadian Asset Management LLC purchased a new position in Owens-Illinois during the 2nd quarter worth $113,000. Acrospire Investment Management LLC raised its position in Owens-Illinois by 163.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 6,714 shares of the industrial products company’s stock worth $161,000 after buying an additional 4,169 shares during the last quarter. Flinton Capital Management LLC raised its position in Owens-Illinois by 74.4% during the 2nd quarter. Flinton Capital Management LLC now owns 7,200 shares of the industrial products company’s stock worth $172,000 after buying an additional 3,072 shares during the last quarter. Finally, Sei Investments Co. raised its position in Owens-Illinois by 61.2% during the 3rd quarter. Sei Investments Co. now owns 7,376 shares of the industrial products company’s stock worth $186,000 after buying an additional 2,799 shares during the last quarter. Hedge funds and other institutional investors own 95.95% of the company’s stock.
In other Owens-Illinois news, insider Sergio B.O. Galindo sold 5,477 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $24.93, for a total transaction of $136,541.61. Following the completion of the transaction, the insider now directly owns 34,890 shares in the company, valued at approximately $869,807.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Timothy M. Connors sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $23.86, for a total transaction of $83,510.00. Following the transaction, the insider now owns 19,624 shares of the company’s stock, valued at $468,228.64. The disclosure for this sale can be found here. Insiders have sold a total of 10,337 shares of company stock valued at $252,651 over the last 90 days. 1.50% of the stock is currently owned by insiders.
Owens-Illinois, Inc. (NYSE:OI) opened at $23.37 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 5.73. The stock has a market cap of $3,799.32, a PE ratio of 8.97, a PEG ratio of 1.21 and a beta of 1.53. Owens-Illinois, Inc. has a twelve month low of $17.31 and a twelve month high of $25.90.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings results on Monday, October 23rd. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. Owens-Illinois had a net margin of 3.59% and a return on equity of 63.33%. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm posted $0.68 EPS. The business’s revenue was up 5.1% compared to the same quarter last year. analysts forecast that Owens-Illinois, Inc. will post 2.64 earnings per share for the current fiscal year.
A number of equities analysts have commented on the stock. KeyCorp restated a “hold” rating on shares of Owens-Illinois in a research report on Friday. TheStreet downgraded shares of Owens-Illinois from a “b” rating to a “c+” rating in a research report on Wednesday, October 25th. Bank of America Corporation upped their price objective on shares of Owens-Illinois from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Robert W. Baird upped their price objective on shares of Owens-Illinois from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Finally, Zacks Investment Research upgraded shares of Owens-Illinois from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Owens-Illinois has a consensus rating of “Hold” and an average target price of $26.45.
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Owens-Illinois, Inc is a manufacturer of glass container products. The Company’s principal product lines are glass containers for the food and beverage industries. The Company’s segments include Europe, North America, Latin America and Asia Pacific. The Company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine.
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