Lee Danner & Bass Inc. Has $10.81 Million Stake in Owens-Illinois Inc (OI)

Lee Danner & Bass Inc. grew its stake in shares of Owens-Illinois Inc (NYSE:OI) by 19.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 578,646 shares of the industrial products company’s stock after purchasing an additional 94,072 shares during the period. Owens-Illinois comprises about 1.1% of Lee Danner & Bass Inc.’s holdings, making the stock its 25th biggest holding. Lee Danner & Bass Inc.’s holdings in Owens-Illinois were worth $10,809,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Engineers Gate Manager LP lifted its holdings in shares of Owens-Illinois by 62.5% during the second quarter. Engineers Gate Manager LP now owns 95,062 shares of the industrial products company’s stock valued at $1,598,000 after purchasing an additional 36,574 shares during the last quarter. Boston Partners lifted its holdings in shares of Owens-Illinois by 1.9% during the second quarter. Boston Partners now owns 1,599,603 shares of the industrial products company’s stock valued at $26,889,000 after purchasing an additional 29,272 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Owens-Illinois by 76.8% during the second quarter. Sei Investments Co. now owns 20,618 shares of the industrial products company’s stock valued at $347,000 after purchasing an additional 8,953 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Owens-Illinois during the second quarter valued at $734,000. Finally, Comerica Bank lifted its holdings in shares of Owens-Illinois by 4.2% during the second quarter. Comerica Bank now owns 428,513 shares of the industrial products company’s stock valued at $7,173,000 after purchasing an additional 17,319 shares during the last quarter. 96.43% of the stock is owned by institutional investors and hedge funds.

Shares of Owens-Illinois opened at $17.70 on Friday, MarketBeat.com reports. The stock has a market capitalization of $2.93 billion, a P/E ratio of 6.88, a price-to-earnings-growth ratio of 1.02 and a beta of 1.45. The company has a debt-to-equity ratio of 5.98, a current ratio of 1.21 and a quick ratio of 0.76. Owens-Illinois Inc has a 1 year low of $16.22 and a 1 year high of $25.90.

Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Monday, July 23rd. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.81 billion. Owens-Illinois had a return on equity of 45.52% and a net margin of 2.01%. During the same period in the prior year, the business earned $0.75 EPS. research analysts forecast that Owens-Illinois Inc will post 2.75 earnings per share for the current year.

OI has been the subject of several research analyst reports. Deutsche Bank raised Owens-Illinois from a “hold” rating to a “buy” rating and increased their price objective for the stock from $19.45 to $25.90 in a research note on Thursday, April 26th. Zacks Investment Research downgraded Owens-Illinois from a “buy” rating to a “hold” rating in a research note on Thursday, April 26th. Bank of America downgraded Owens-Illinois from a “buy” rating to a “neutral” rating and set a $27.00 price objective for the company. in a research note on Wednesday, April 25th. Wells Fargo & Co reduced their price objective on Owens-Illinois from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Wednesday, April 25th. Finally, Citigroup reduced their price objective on Owens-Illinois from $29.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, July 10th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $24.08.

About Owens-Illinois

Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Europe, North America, Latin America, and the Asia Pacific. It 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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