Karp Capital Management Corp Acquires New Stake in Owens-Illinois, Inc. (OI)
Karp Capital Management Corp bought a new position in shares of Owens-Illinois, Inc. (NYSE:OI) during the first quarter, according to its most recent filing with the SEC. The institutional investor bought 66,386 shares of the industrial products company’s stock, valued at approximately $1,353,000.
A number of other institutional investors have also recently made changes to their positions in the company. James Investment Research Inc. purchased a new position in shares of Owens-Illinois during the first quarter worth about $149,000. Telemus Capital LLC acquired a new stake in Owens-Illinois during the first quarter valued at approximately $202,000. Bank of Montreal Can raised its stake in Owens-Illinois by 17.7% in the first quarter. Bank of Montreal Can now owns 10,830 shares of the industrial products company’s stock valued at $221,000 after buying an additional 1,632 shares during the last quarter. Flinton Capital Management LLC acquired a new stake in Owens-Illinois during the fourth quarter valued at approximately $213,000. Finally, Zweig DiMenna Associates LLC acquired a new stake in Owens-Illinois during the third quarter valued at approximately $235,000. Institutional investors own 95.75% of the company’s stock.
Owens-Illinois, Inc. (NYSE OI) opened at 22.6499 on Thursday. The stock’s 50 day moving average price is $22.23 and its 200 day moving average price is $20.10. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 19.4587 and a beta of 1.46. Owens-Illinois, Inc. has a 52 week low of $16.18 and a 52 week high of $23.34.
Owens-Illinois (NYSE:OI) last issued its quarterly earnings results on Monday, April 24th. The industrial products company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.05. Owens-Illinois had a return on equity of 80.74% and a net margin of 2.84%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the business earned $0.48 EPS. Owens-Illinois’s revenue was up .8% on a year-over-year basis. On average, analysts forecast that Owens-Illinois, Inc. will post $2.49 earnings per share for the current year.
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OI has been the subject of a number of research analyst reports. Credit Suisse Group set a $28.00 price objective on shares of Owens-Illinois and gave the company a “buy” rating in a report on Thursday, February 16th. Zacks Investment Research upgraded Owens-Illinois from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Monday, May 15th. Deutsche Bank AG reiterated a “hold” rating and issued a $24.00 target price (up previously from $20.00) on shares of Owens-Illinois in a research note on Saturday, April 29th. Jefferies Group LLC reiterated a “hold” rating and issued a $20.00 target price (up previously from $19.00) on shares of Owens-Illinois in a research note on Wednesday, April 26th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $20.00 target price on shares of Owens-Illinois in a research note on Friday, April 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $24.78.
Owens-Illinois Company Profile
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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