Neuberger Berman Group LLC bought a new stake in Owens-Illinois Inc (NYSE:OI) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 8,389 shares of the industrial products company’s stock, valued at approximately $211,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its position in Owens-Illinois by 37.4% during the 2nd quarter. FMR LLC now owns 1,446,740 shares of the industrial products company’s stock valued at $34,606,000 after purchasing an additional 393,560 shares during the last quarter. AJO LP raised its position in Owens-Illinois by 1,024.9% during the 2nd quarter. AJO LP now owns 277,503 shares of the industrial products company’s stock valued at $6,638,000 after purchasing an additional 252,833 shares during the last quarter. Westover Capital Advisors LLC bought a new position in Owens-Illinois during the 2nd quarter valued at approximately $628,000. Alliancebernstein L.P. raised its position in 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. Finally, Parametrica Management Ltd bought a new position in Owens-Illinois during the 3rd quarter valued at approximately $613,000. 93.58% of the stock is owned by institutional investors.
In other Owens-Illinois news, insider Timothy M. Connors sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $23.86, for a total transaction of $83,510.00. Following the transaction, the insider now owns 19,624 shares in the company, valued at approximately $468,228.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.
Owens-Illinois (NYSE:OI) last posted its earnings results on Monday, October 23rd. The industrial products company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. Owens-Illinois had a return on equity of 63.33% and a net margin of 3.59%. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the business earned $0.68 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. sell-side analysts expect that Owens-Illinois Inc will post 2.64 earnings per share for the current fiscal year.
OI has been the subject of a number of recent analyst reports. Zacks Investment Research raised Owens-Illinois from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Royal Bank of Canada reaffirmed a “hold” rating and set a $26.00 price target on shares of Owens-Illinois in a research report on Thursday, December 14th. TheStreet lowered Owens-Illinois from a “b” rating to a “c+” rating in a research report on Wednesday, October 25th. 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. Finally, ValuEngine lowered Owens-Illinois from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 22nd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Owens-Illinois has a consensus rating of “Hold” and a consensus price target of $26.36.
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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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