Convergence Investment Partners LLC decreased its holdings in Owens-Illinois Inc (NYSE:OI) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 154,859 shares of the industrial products company’s stock after selling 3,289 shares during the quarter. Convergence Investment Partners LLC owned 0.10% of Owens-Illinois worth $3,433,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of OI. JPMorgan Chase & Co. increased its position in shares of Owens-Illinois by 68.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 274,849 shares of the industrial products company’s stock valued at $6,574,000 after purchasing an additional 111,964 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Owens-Illinois by 3.2% during the 2nd quarter. Wells Fargo & Company MN now owns 292,205 shares of the industrial products company’s stock valued at $6,990,000 after purchasing an additional 8,931 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Owens-Illinois by 9.6% during the 2nd quarter. Alliancebernstein L.P. now owns 109,724 shares of the industrial products company’s stock valued at $2,625,000 after purchasing an additional 9,650 shares during the last quarter. Riverhead Capital Management LLC increased its position in shares of Owens-Illinois by 77.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 11,356 shares of the industrial products company’s stock valued at $272,000 after purchasing an additional 4,956 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Owens-Illinois by 74.3% during the 2nd quarter. Teachers Advisors LLC now owns 473,540 shares of the industrial products company’s stock valued at $11,327,000 after purchasing an additional 201,870 shares during the last quarter. 93.59% of the stock is owned by institutional investors and hedge funds.

In related news, insider Timothy M. Connors sold 3,500 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $23.86, for a total value of $83,510.00. Following the completion of the sale, the insider now directly owns 19,624 shares of the company’s stock, valued at approximately $468,228.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Shares of Owens-Illinois Inc (NYSE OI) opened at $22.71 on Wednesday. The stock has a market cap of $3,700.00, a P/E ratio of 15.24, a P/E/G ratio of 1.15 and a beta of 1.53. Owens-Illinois Inc has a fifty-two week low of $18.39 and a fifty-two week high of $25.90. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 5.73.

Owens-Illinois (NYSE:OI) last released its earnings results on Monday, October 23rd. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.04. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. Owens-Illinois had a net margin of 3.59% and a return on equity of 63.33%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 EPS. analysts predict that Owens-Illinois Inc will post 2.64 earnings per share for the current fiscal year.

Several research firms have recently commented on OI. Zacks Investment Research raised shares of Owens-Illinois from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Thursday, September 21st. KeyCorp reaffirmed a “hold” rating on shares of Owens-Illinois in a research report on Monday, October 30th. UBS Group reaffirmed a “neutral” rating and set a $27.00 price target (up previously from $26.00) on shares of Owens-Illinois in a research report on Tuesday, October 24th. Royal Bank of Canada reaffirmed a “neutral” rating on shares of Owens-Illinois in a research report on Tuesday, October 10th. Finally, ValuEngine lowered shares of Owens-Illinois from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 22nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Owens-Illinois presently has a consensus rating of “Hold” and a consensus target price of $26.36.

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About Owens-Illinois

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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Institutional Ownership by Quarter for Owens-Illinois (NYSE:OI)

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