Private Advisor Group LLC Has $202,000 Position in Owens-Illinois, Inc. (OI)
Private Advisor Group LLC trimmed its holdings in Owens-Illinois, Inc. (NYSE:OI) by 93.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 8,363 shares of the industrial products company’s stock after selling 123,818 shares during the period. Private Advisor Group LLC’s holdings in Owens-Illinois were worth $202,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Bank of Montreal Can lifted its stake in Owens-Illinois by 17.7% during the first quarter. Bank of Montreal Can now owns 10,830 shares of the industrial products company’s stock worth $221,000 after purchasing an additional 1,632 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Owens-Illinois by 117.2% during the first quarter. Wells Fargo & Company MN now owns 283,274 shares of the industrial products company’s stock worth $5,773,000 after purchasing an additional 152,839 shares in the last quarter. Suntrust Banks Inc. acquired a new position in Owens-Illinois during the first quarter worth $311,000. Swiss National Bank lifted its stake in Owens-Illinois by 1.5% during the first quarter. Swiss National Bank now owns 253,624 shares of the industrial products company’s stock worth $5,169,000 after purchasing an additional 3,800 shares in the last quarter. Finally, World Asset Management Inc lifted its stake in Owens-Illinois by 13.2% during the first quarter. World Asset Management Inc now owns 13,616 shares of the industrial products company’s stock worth $277,000 after purchasing an additional 1,584 shares in the last quarter. Institutional investors own 95.06% of the company’s stock.
A number of research analysts have commented on OI shares. BMO Capital Markets restated a “hold” rating and set a $25.00 price target on shares of Owens-Illinois in a research note on Sunday, August 27th. BidaskClub upgraded Owens-Illinois from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Jefferies Group LLC restated a “hold” rating and set a $27.00 price target (up from $26.00) on shares of Owens-Illinois in a research note on Wednesday, August 2nd. Robert W. Baird restated a “hold” rating and set a $25.00 price target on shares of Owens-Illinois in a research note on Friday, September 1st. Finally, Royal Bank Of Canada restated a “hold” rating and set a $25.00 price target on shares of Owens-Illinois in a research note on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $25.60.
In other Owens-Illinois news, insider Sergio B.O. Galindo sold 5,477 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $24.93, for a total value of $136,541.61. Following the transaction, the insider now owns 34,890 shares in the company, valued at approximately $869,807.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Moyano Giancarlo Currarino sold 1,360 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $23.97, for a total transaction of $32,599.20. Following the completion of the transaction, the senior vice president now owns 23,954 shares in the company, valued at approximately $574,177.38. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.
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Shares of Owens-Illinois, Inc. (OI) opened at 24.28 on Friday. Owens-Illinois, Inc. has a 52 week low of $16.80 and a 52 week high of $25.08. The stock has a 50 day moving average price of $24.18 and a 200 day moving average price of $22.58. The firm has a market capitalization of $3.95 billion, a PE ratio of 17.59 and a beta of 1.51.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Owens-Illinois had a net margin of 3.36% and a return on equity of 72.15%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the company earned $0.65 EPS. The firm’s revenue was down .5% on a year-over-year basis. Equities analysts forecast that Owens-Illinois, Inc. will post $2.63 earnings per share for the current fiscal year.
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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