Owens-Illinois, Inc. (OI) Insider Sells $83,510.00 in Stock

Owens-Illinois, Inc. (NYSE:OI) insider Timothy M. Connors sold 3,500 shares of the firm’s 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 $468,228.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Owens-Illinois, Inc. (NYSE OI) traded down $0.03 during midday trading on Friday, reaching $23.31. The company had a trading volume of 1,053,356 shares, compared to its average volume of 1,402,664. The stock has a market capitalization of $3,804.21, a P/E ratio of 8.98, a PEG ratio of 1.22 and a beta of 1.53. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 5.73. Owens-Illinois, Inc. has a 12 month low of $17.31 and a 12 month high of $25.90.

Owens-Illinois (NYSE:OI) last released its earnings results on Monday, October 23rd. The industrial products company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.04. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.77 billion. Owens-Illinois had a return on equity of 63.33% and a net margin of 3.59%. Owens-Illinois’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 earnings per share. sell-side analysts anticipate that Owens-Illinois, Inc. will post 2.64 earnings per share for the current fiscal year.

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A number of research firms have recently issued reports on OI. KeyCorp restated a “hold” rating on shares of Owens-Illinois in a research note on Monday, October 30th. TheStreet downgraded Owens-Illinois from a “b” rating to a “c+” rating in a research note on Wednesday, October 25th. Bank of America Corporation raised their price target on Owens-Illinois from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Robert W. Baird raised their price target on Owens-Illinois from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Finally, Zacks Investment Research upgraded Owens-Illinois from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Owens-Illinois presently has a consensus rating of “Hold” and a consensus price target of $26.45.

A number of large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in Owens-Illinois by 147.9% during the third quarter. JPMorgan Chase & Co. now owns 681,303 shares of the industrial products company’s stock valued at $17,183,000 after acquiring an additional 406,454 shares during the period. Legal & General Group Plc raised its holdings in Owens-Illinois by 3.4% during the third quarter. Legal & General Group Plc now owns 250,840 shares of the industrial products company’s stock valued at $6,309,000 after acquiring an additional 8,210 shares during the period. Great West Life Assurance Co. Can raised its holdings in Owens-Illinois by 0.7% during the third quarter. Great West Life Assurance Co. Can now owns 7,997,182 shares of the industrial products company’s stock valued at $201,104,000 after acquiring an additional 58,137 shares during the period. Nordea Investment Management AB raised its holdings in Owens-Illinois by 2.8% during the third quarter. Nordea Investment Management AB now owns 270,800 shares of the industrial products company’s stock valued at $6,813,000 after acquiring an additional 7,400 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in Owens-Illinois by 8.2% during the third quarter. Pacer Advisors Inc. now owns 33,158 shares of the industrial products company’s stock valued at $835,000 after acquiring an additional 2,500 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Owens-Illinois Company Profile

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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