Foundry Partners LLC decreased its holdings in Owens-Illinois Inc (NYSE:OI) by 0.9% in the 4th quarter, HoldingsChannel reports. The firm owned 724,981 shares of the industrial products company’s stock after selling 6,877 shares during the quarter. Foundry Partners LLC’s holdings in Owens-Illinois were worth $16,073,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Flinton Capital Management LLC boosted its stake in Owens-Illinois by 74.4% during the second quarter. Flinton Capital Management LLC now owns 7,200 shares of the industrial products company’s stock valued at $172,000 after buying an additional 3,072 shares in the last quarter. Sei Investments Co. boosted its stake in Owens-Illinois by 61.2% during the third quarter. Sei Investments Co. now owns 7,376 shares of the industrial products company’s stock valued at $186,000 after buying an additional 2,799 shares in the last quarter. Biltmore Wealth Management LLC bought a new position in Owens-Illinois during the third quarter valued at about $201,000. Neuberger Berman Group LLC bought a new position in Owens-Illinois during the third quarter valued at about $211,000. Finally, Alps Advisors Inc. bought a new position in Owens-Illinois during the third quarter valued at about $214,000. 94.84% of the stock is owned by institutional investors.
Several research analysts recently weighed in on the company. ValuEngine raised Owens-Illinois from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 13th. Robert W. Baird raised their target price on Owens-Illinois from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. UBS Group reaffirmed a “neutral” rating and set a $27.00 target price (up previously from $26.00) on shares of Owens-Illinois in a research note on Tuesday, October 24th. Zacks Investment Research raised Owens-Illinois from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Owens-Illinois in a research note on Friday, November 10th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $26.36.
Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Monday, October 23rd. The industrial products company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. Owens-Illinois had a return on equity of 63.33% and a net margin of 3.59%. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the company posted $0.68 EPS. Owens-Illinois’s revenue for the quarter was up 5.1% on a year-over-year basis. analysts anticipate that Owens-Illinois Inc will post 2.64 EPS for the current year.
In related news, insider Timothy M. Connors sold 3,500 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $23.86, for a total value of $83,510.00. Following the completion of the transaction, the insider now owns 19,624 shares in the company, valued at approximately $468,228.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.50% of the company’s stock.
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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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