HighTower Advisors LLC Raises Stake in Owens-Illinois, Inc. (OI)
HighTower Advisors LLC lifted its stake in shares of Owens-Illinois, Inc. (NYSE:OI) by 308.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 175,146 shares of the industrial products company’s stock after acquiring an additional 132,228 shares during the quarter. HighTower Advisors LLC owned approximately 0.11% of Owens-Illinois worth $4,191,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Sigma Planning Corp raised its holdings in shares of Owens-Illinois by 0.5% in the second quarter. Sigma Planning Corp now owns 21,460 shares of the industrial products company’s stock valued at $513,000 after acquiring an additional 100 shares in the last quarter. Atria Investments LLC lifted its stake in Owens-Illinois by 1.3% in the second quarter. Atria Investments LLC now owns 11,342 shares of the industrial products company’s stock worth $271,000 after acquiring an additional 142 shares during the period. Advisor Group Inc. lifted its stake in Owens-Illinois by 0.9% in the second quarter. Advisor Group Inc. now owns 16,417 shares of the industrial products company’s stock worth $393,000 after acquiring an additional 150 shares during the period. Contravisory Investment Management Inc. lifted its stake in Owens-Illinois by 1.5% in the second quarter. Contravisory Investment Management Inc. now owns 13,982 shares of the industrial products company’s stock worth $334,000 after acquiring an additional 203 shares during the period. Finally, First Allied Advisory Services Inc. lifted its stake in Owens-Illinois by 2.4% in the second quarter. First Allied Advisory Services Inc. now owns 11,600 shares of the industrial products company’s stock worth $277,000 after acquiring an additional 270 shares during the period. 95.06% of the stock is currently owned by institutional investors and hedge funds.
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In related news, SVP Moyano Giancarlo Currarino sold 1,360 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $23.97, for a total value of $32,599.20. Following the transaction, the senior vice president now owns 23,954 shares of the company’s stock, valued at $574,177.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sergio B.O. Galindo sold 5,477 shares of the 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 completion of the transaction, the insider now directly owns 34,890 shares in the company, valued at approximately $869,807.70. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.
Owens-Illinois, Inc. (NYSE OI) opened at 25.50 on Wednesday. Owens-Illinois, Inc. has a 12 month low of $16.80 and a 12 month high of $25.59. The stock has a market cap of $4.15 billion, a P/E ratio of 18.48 and a beta of 1.49. The stock has a 50 day moving average of $24.33 and a 200-day moving average of $22.94.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.08. Owens-Illinois had a return on equity of 72.15% and a net margin of 3.36%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the company posted $0.65 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities analysts forecast that Owens-Illinois, Inc. will post $2.63 EPS for the current fiscal year.
Several research analysts have issued reports on OI shares. BidaskClub downgraded shares of Owens-Illinois from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Zacks Investment Research lowered shares of Owens-Illinois from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Jefferies Group LLC restated a “hold” rating and issued a $27.00 price target (up previously from $26.00) on shares of Owens-Illinois in a report on Wednesday, August 2nd. Barclays PLC upped their price target on shares of Owens-Illinois from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. Finally, ValuEngine cut shares of Owens-Illinois from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 22nd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $25.60.
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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