BlackRock Inc. Boosts Position in Owens-Illinois, Inc. (NYSE:OI)
BlackRock Inc. raised its position in shares of Owens-Illinois, Inc. (NYSE:OI) by 16,329.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,655,477 shares of the industrial products company’s stock after buying an additional 14,566,275 shares during the period. BlackRock Inc. owned 9.01% of Owens-Illinois worth $298,679,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Owens-Illinois during the fourth quarter worth $418,000. Renaissance Technologies LLC purchased a new stake in Owens-Illinois during the fourth quarter worth $13,785,000. Tudor Investment Corp Et Al purchased a new stake in Owens-Illinois during the fourth quarter worth $441,000. Metropolitan Life Insurance Co. NY raised its stake in Owens-Illinois by 74.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 157,977 shares of the industrial products company’s stock worth $2,750,000 after buying an additional 67,243 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its stake in Owens-Illinois by 64.9% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 39,900 shares of the industrial products company’s stock worth $695,000 after buying an additional 15,700 shares in the last quarter. 95.50% of the stock is owned by institutional investors.
Shares of Owens-Illinois, Inc. (NYSE:OI) traded down 1.09% during trading on Thursday, reaching $24.51. 1,143,113 shares of the company’s stock traded hands. The stock has a market cap of $3.99 billion, a P/E ratio of 17.51 and a beta of 1.50. The company has a 50 day moving average price of $23.87 and a 200-day moving average price of $21.48. Owens-Illinois, Inc. has a one year low of $16.80 and a one year high of $25.02.
Owens-Illinois (NYSE:OI) last issued its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. Owens-Illinois had a return on equity of 82.33% and a net margin of 3.36%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. Owens-Illinois’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts expect that Owens-Illinois, Inc. will post $2.51 EPS for the current fiscal year.
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A number of analysts have recently commented on OI shares. Zacks Investment Research upgraded shares of Owens-Illinois from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Monday, May 15th. BidaskClub upgraded shares of Owens-Illinois from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Deutsche Bank AG reiterated a “hold” rating and issued a $24.00 price target (up 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 $26.00 price target (up from $20.00) on shares of Owens-Illinois in a research note on Friday, July 14th. Finally, BMO Capital Markets restated a “hold” rating and set a $20.00 target price on shares of Owens-Illinois in a research report on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Owens-Illinois has a consensus rating of “Hold” and an average target price of $26.11.
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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