Canada Pension Plan Investment Board Has $3.09 Million Position in Owens-Illinois, Inc. (OI)

Canada Pension Plan Investment Board boosted its stake in shares of Owens-Illinois, Inc. (NYSE:OI) by 17.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,300 shares of the industrial products company’s stock after buying an additional 19,200 shares during the period. Canada Pension Plan Investment Board owned 0.08% of Owens-Illinois worth $3,093,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. IFP Advisors Inc raised its stake in shares of Owens-Illinois by 853.3% in the second quarter. IFP Advisors Inc now owns 17,255 shares of the industrial products company’s stock valued at $413,000 after buying an additional 15,445 shares during the last quarter. Telemus Capital LLC raised its stake in shares of Owens-Illinois by 10.5% in the second quarter. Telemus Capital LLC now owns 10,935 shares of the industrial products company’s stock valued at $262,000 after buying an additional 1,040 shares during the last quarter. Texas Permanent School Fund raised its stake in shares of Owens-Illinois by 1.2% in the second quarter. Texas Permanent School Fund now owns 118,787 shares of the industrial products company’s stock valued at $2,841,000 after buying an additional 1,356 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Owens-Illinois by 1.6% in the second quarter. Great West Life Assurance Co. Can now owns 7,939,045 shares of the industrial products company’s stock valued at $189,411,000 after buying an additional 125,665 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Owens-Illinois during the second quarter valued at approximately $344,000. Institutional investors own 94.79% of the company’s stock.

Shares of Owens-Illinois, Inc. (NYSE:OI) opened at 24.08 on Friday. The company’s 50-day moving average is $24.18 and its 200-day moving average is $22.02. Owens-Illinois, Inc. has a one year low of $16.80 and a one year high of $25.02. The company has a market capitalization of $3.92 billion, a PE ratio of 17.45 and a beta of 1.50.

Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.77 billion. Owens-Illinois had a net margin of 3.36% and a return on equity of 72.15%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. Equities analysts predict that Owens-Illinois, Inc. will post $2.63 earnings per share for the current year.

Several brokerages have commented on OI. BidaskClub lowered shares of Owens-Illinois from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Barclays PLC raised their price target on shares of Owens-Illinois from $22.00 to $25.00 and gave the company an “equal weight” rating in a research note on Monday, August 7th. Jefferies Group LLC restated a “hold” rating and issued a $27.00 price target (up previously from $26.00) on shares of Owens-Illinois in a research note on Wednesday, August 2nd. Royal Bank Of Canada restated a “hold” rating and issued a $24.00 price target on shares of Owens-Illinois in a research note on Friday, July 14th. Finally, ValuEngine upgraded shares of Owens-Illinois from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $24.75.

About Owens-Illinois

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.