Golub Group LLC reduced its holdings in Owens-Illinois Inc (NYSE:OI) by 3.8% during the third quarter, Holdings Channel.com reports. The fund owned 2,085,538 shares of the industrial products company’s stock after selling 81,663 shares during the quarter. Golub Group LLC’s holdings in Owens-Illinois were worth $21,418,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in OI. Vanguard Group Inc. increased its position in shares of Owens-Illinois by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 14,972,214 shares of the industrial products company’s stock valued at $258,570,000 after purchasing an additional 176,318 shares during the last quarter. BlackRock Inc. increased its position in shares of Owens-Illinois by 4.2% during the 2nd quarter. BlackRock Inc. now owns 14,798,907 shares of the industrial products company’s stock valued at $255,580,000 after purchasing an additional 598,742 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Owens-Illinois by 60.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 11,599,634 shares of the industrial products company’s stock valued at $119,126,000 after purchasing an additional 4,383,107 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Owens-Illinois by 5.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 6,818,691 shares of the industrial products company’s stock valued at $70,059,000 after purchasing an additional 367,421 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of Owens-Illinois by 5.6% during the 2nd quarter. LSV Asset Management now owns 5,657,001 shares of the industrial products company’s stock valued at $97,696,000 after purchasing an additional 299,610 shares during the last quarter. Institutional investors and hedge funds own 90.50% of the company’s stock.

OI stock traded up $0.21 during trading on Friday, hitting $9.18. 1,961,262 shares of the company traded hands, compared to its average volume of 1,581,668. The firm has a market capitalization of $1.40 billion, a PE ratio of 3.38, a P/E/G ratio of 1.28 and a beta of 1.49. Owens-Illinois Inc has a 1 year low of $8.26 and a 1 year high of $20.78. The company has a 50-day moving average of $9.62 and a 200-day moving average of $13.81. The company has a debt-to-equity ratio of 12.64, a quick ratio of 0.69 and a current ratio of 1.15.

Owens-Illinois (NYSE:OI) last issued its earnings results on Monday, October 28th. The industrial products company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Owens-Illinois had a negative net margin of 6.58% and a positive return on equity of 42.84%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 earnings per share. Sell-side analysts expect that Owens-Illinois Inc will post 2.21 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.18%. The ex-dividend date is Wednesday, November 27th. Owens-Illinois’s dividend payout ratio is presently 7.35%.

Several brokerages have recently commented on OI. Royal Bank of Canada reduced their price objective on Owens-Illinois to $10.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 5th. Citigroup dropped their target price on Owens-Illinois from $11.00 to $9.50 and set a “neutral” rating for the company in a report on Wednesday, October 30th. KeyCorp restated a “sell” rating and set a $8.00 target price on shares of Owens-Illinois in a report on Tuesday, October 29th. Goldman Sachs Group upgraded Owens-Illinois from a “sell” rating to a “neutral” rating and dropped their target price for the company from $17.00 to $13.00 in a report on Monday, August 5th. Finally, UBS Group dropped their target price on Owens-Illinois from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Owens-Illinois presently has an average rating of “Hold” and a consensus price target of $14.68.

Owens-Illinois Company Profile

Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Americas, Europe, and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. The company is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals.

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

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