Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Owens-Illinois Inc (NYSE:OI) by 1,746.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,787 shares of the industrial products company’s stock after buying an additional 100,058 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of Owens-Illinois worth $2,156,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Owens-Illinois during the fourth quarter worth about $26,472,000. Russell Investments Group Ltd. boosted its stake in shares of Owens-Illinois by 228.0% in the first quarter. Russell Investments Group Ltd. now owns 1,190,269 shares of the industrial products company’s stock worth $24,263,000 after buying an additional 827,394 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Owens-Illinois during the fourth quarter worth about $13,785,000. Foundry Partners LLC boosted its stake in shares of Owens-Illinois by 181.4% in the first quarter. Foundry Partners LLC now owns 682,669 shares of the industrial products company’s stock worth $13,913,000 after buying an additional 440,075 shares during the last quarter. Finally, Employees Retirement System of Texas boosted its stake in shares of Owens-Illinois by 6,433.3% in the fourth quarter. Employees Retirement System of Texas now owns 392,000 shares of the industrial products company’s stock worth $6,825,000 after buying an additional 386,000 shares during the last quarter. Institutional investors and hedge funds own 96.65% of the company’s stock.
Shares of Owens-Illinois Inc (NYSE:OI) traded up 1.49% during midday trading on Friday, hitting $21.82. The stock had a trading volume of 511,062 shares. The stock’s 50-day moving average is $21.16 and its 200-day moving average is $19.59. The stock has a market cap of $3.55 billion, a PE ratio of 18.75 and a beta of 1.48. Owens-Illinois Inc has a 12 month low of $16.18 and a 12 month high of $22.61.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings results on Monday, April 24th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Owens-Illinois had a return on equity of 86.07% and a net margin of 3.12%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 earnings per share. Equities analysts anticipate that Owens-Illinois Inc will post $2.49 EPS for the current year.
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OI has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Owens-Illinois from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. Barclays PLC upped their price objective on shares of Owens-Illinois from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday, May 1st. Deutsche Bank AG reaffirmed a “hold” rating and set a $24.00 price objective (up previously from $20.00) on shares of Owens-Illinois in a research report on Saturday, April 29th. Jefferies Group LLC reaffirmed a “hold” rating and set a $20.00 price objective (up previously from $19.00) on shares of Owens-Illinois in a research report on Wednesday, April 26th. Finally, TheStreet raised shares of Owens-Illinois from a “c+” rating to a “b” rating in a research report on Thursday, May 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $24.00.
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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