Golub Group LLC reduced its holdings in Owens-Illinois Inc (NYSE:OI) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,085,538 shares of the industrial products company’s stock after selling 81,663 shares during the quarter. Golub Group LLC owned about 1.34% of Owens-Illinois worth $21,418,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Elkfork Partners LLC increased its holdings in Owens-Illinois by 47.0% in the second quarter. Elkfork Partners LLC now owns 74,698 shares of the industrial products company’s stock worth $1,290,000 after purchasing an additional 23,868 shares in the last quarter. Atria Investments LLC increased its holdings in shares of Owens-Illinois by 192.4% during the second quarter. Atria Investments LLC now owns 49,294 shares of the industrial products company’s stock valued at $3,953,000 after acquiring an additional 32,434 shares in the last quarter. Commonwealth Bank of Australia increased its holdings in shares of Owens-Illinois by 43.5% during the second quarter. Commonwealth Bank of Australia now owns 50,500 shares of the industrial products company’s stock valued at $872,000 after acquiring an additional 15,300 shares in the last quarter. Bernzott Capital Advisors increased its holdings in shares of Owens-Illinois by 0.7% during the second quarter. Bernzott Capital Advisors now owns 1,391,640 shares of the industrial products company’s stock valued at $24,034,000 after acquiring an additional 10,357 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Owens-Illinois by 656,389.5% during the second quarter. Marshall Wace LLP now owns 124,733 shares of the industrial products company’s stock valued at $2,154,000 after acquiring an additional 124,714 shares in the last quarter. Institutional investors and hedge funds own 90.50% of the company’s stock.
OI has been the subject of several recent research reports. Citigroup decreased their price objective on Owens-Illinois from $11.00 to $9.50 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Wells Fargo & Co downgraded Owens-Illinois from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $15.00 to $10.00 in a report on Thursday, October 31st. TheStreet downgraded Owens-Illinois from a “c” rating to a “d” rating in a report on Friday, November 1st. Credit Suisse Group decreased their price objective on Owens-Illinois from $24.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Finally, Goldman Sachs Group upgraded Owens-Illinois from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $17.00 to $13.00 in a report on Monday, August 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $14.68.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.01). Owens-Illinois had a positive return on equity of 42.84% and a negative net margin of 6.58%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the company posted $0.75 EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities analysts expect that Owens-Illinois Inc will post 2.21 EPS for the current year.
The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 annualized dividend and a yield of 2.18%. Owens-Illinois’s dividend payout ratio (DPR) is currently 7.35%.
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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