LSV Asset Management boosted its stake in Owens-Illinois Inc (NYSE:OI) by 6.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,357,391 shares of the industrial products company’s stock after buying an additional 324,030 shares during the period. LSV Asset Management’s holdings in Owens-Illinois were worth $101,683,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Owens-Illinois by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,296,265 shares of the industrial products company’s stock worth $56,828,000 after buying an additional 8,718 shares in the last quarter. South Dakota Investment Council boosted its holdings in Owens-Illinois by 2.5% in the fourth quarter. South Dakota Investment Council now owns 252,600 shares of the industrial products company’s stock valued at $4,355,000 after purchasing an additional 6,100 shares in the last quarter. Bank of Nova Scotia acquired a new position in Owens-Illinois in the fourth quarter valued at approximately $2,069,000. PNC Financial Services Group Inc. boosted its holdings in Owens-Illinois by 22.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 90,500 shares of the industrial products company’s stock valued at $1,560,000 after purchasing an additional 16,394 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Owens-Illinois by 19.5% in the third quarter. JPMorgan Chase & Co. now owns 523,606 shares of the industrial products company’s stock valued at $9,838,000 after purchasing an additional 85,424 shares in the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.
In other Owens-Illinois news, SVP Moyano Giancarlo Currarino sold 57,560 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $19.68, for a total value of $1,132,780.80. Following the completion of the sale, the senior vice president now owns 63,508 shares in the company, valued at $1,249,837.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Timothy M. Connors sold 44,715 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $19.55, for a total value of $874,178.25. Following the completion of the sale, the insider now owns 48,105 shares of the company’s stock, valued at approximately $940,452.75. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.
Owens-Illinois (NYSE:OI) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.02). Owens-Illinois had a net margin of 3.53% and a return on equity of 43.45%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the firm posted $0.59 EPS. Owens-Illinois’s quarterly revenue was down 7.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Owens-Illinois Inc will post 2.91 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, May 30th. Owens-Illinois’s dividend payout ratio is currently 7.35%.
OI has been the subject of a number of research analyst reports. TheStreet downgraded Owens-Illinois from a “b” rating to a “c+” rating in a report on Monday, March 11th. ValuEngine raised Owens-Illinois from a “strong sell” rating to a “sell” rating in a report on Thursday, January 24th. BMO Capital Markets lowered their price target on Owens-Illinois to $21.00 and set a “market perform” rating for the company in a report on Thursday, February 7th. Zacks Investment Research downgraded Owens-Illinois from a “hold” rating to a “sell” rating in a report on Friday, February 1st. Finally, Bank of America downgraded Owens-Illinois from a “buy” rating to a “neutral” rating and set a $19.72 price target for the company. in a report on Thursday, February 7th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Owens-Illinois has a consensus rating of “Hold” and an average price target of $21.81.
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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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