Dimensional Fund Advisors LP grew its stake in shares of Owens-Illinois Inc (NYSE:OI) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,489,248 shares of the industrial products company’s stock after acquiring an additional 51,404 shares during the period. Dimensional Fund Advisors LP owned about 0.91% of Owens-Illinois worth $37,470,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Acrospire Investment Management LLC grew its stake in shares of Owens-Illinois by 163.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 6,714 shares of the industrial products company’s stock valued at $161,000 after buying an additional 4,169 shares during the period. Flinton Capital Management LLC lifted its holdings in shares of Owens-Illinois by 74.4% during the 2nd quarter. Flinton Capital Management LLC now owns 7,200 shares of the industrial products company’s stock valued at $172,000 after acquiring an additional 3,072 shares in the last quarter. Sei Investments Co. lifted its holdings in Owens-Illinois by 61.2% in the 3rd quarter. Sei Investments Co. now owns 7,376 shares of the industrial products company’s stock worth $186,000 after buying an additional 2,799 shares in the last quarter. Biltmore Wealth Management LLC bought a new stake in shares of Owens-Illinois in the 3rd quarter worth about $201,000. Finally, Alps Advisors Inc. bought a new stake in shares of Owens-Illinois in the 3rd quarter worth about $214,000. Institutional investors own 93.59% of the company’s stock.
A number of equities research analysts recently weighed in on OI shares. Royal Bank of Canada reaffirmed a “hold” rating and set a $26.00 price objective on shares of Owens-Illinois in a research report on Thursday, December 14th. Bank of America increased their target price on shares of Owens-Illinois from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. KeyCorp reissued a “hold” rating on shares of Owens-Illinois in a research note on Monday, October 30th. TheStreet downgraded shares of Owens-Illinois from a “b” rating to a “c+” rating in a research report on Wednesday, October 25th. Finally, Zacks Investment Research downgraded shares of Owens-Illinois from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $26.36.
Owens-Illinois (NYSE:OI) last released its quarterly earnings data on Monday, October 23rd. The industrial products company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.04. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.77 billion. Owens-Illinois had a net margin of 3.59% and a return on equity of 63.33%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. sell-side analysts predict that Owens-Illinois Inc will post 2.64 EPS for the current fiscal year.
In related news, insider Timothy M. Connors sold 3,500 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $23.86, for a total transaction of $83,510.00. Following the completion of the sale, the insider now owns 19,624 shares of the company’s stock, valued at $468,228.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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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