Frontier Wealth Management LLC boosted its stake in Owens-Illinois, Inc. (NYSE:OI) by 49.3% during the fourth quarter, Holdings Channel reports. The firm owned 16,741 shares of the company’s stock after buying an additional 5,529 shares during the period. Frontier Wealth Management LLC’s holdings in Owens-Illinois were worth $291,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of OI. Prudential Financial Inc. raised its position in shares of Owens-Illinois by 49.6% in the third quarter. Prudential Financial Inc. now owns 2,489,400 shares of the company’s stock valued at $45,780,000 after buying an additional 825,741 shares during the period. Cibc World Markets Corp purchased a new position in shares of Owens-Illinois during the second quarter valued at $12,149,000. BlackRock Institutional Trust Company N.A. raised its position in shares of Owens-Illinois by 10.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 4,713,145 shares of the company’s stock valued at $86,675,000 after buying an additional 455,499 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Owens-Illinois during the fourth quarter valued at $6,432,000. Finally, Oxford Asset Management raised its position in shares of Owens-Illinois by 115.2% in the fourth quarter. Oxford Asset Management now owns 555,707 shares of the company’s stock valued at $9,675,000 after buying an additional 297,535 shares during the period. 96.65% of the stock is currently owned by institutional investors and hedge funds.
Owens-Illinois, Inc. (NYSE:OI) traded down 0.40% during trading on Tuesday, reaching $19.92. The company had a trading volume of 1,357,414 shares. The stock has a market cap of $3.23 billion, a P/E ratio of 15.60 and a beta of 1.48. Owens-Illinois, Inc. has a 12-month low of $12.36 and a 12-month high of $20.33. The firm has a 50-day moving average price of $19.01 and a 200 day moving average price of $18.40.
Owens-Illinois (NYSE:OI) last released its earnings results on Wednesday, February 1st. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The business earned $1.60 billion during the quarter, compared to the consensus estimate of $1.64 billion. Owens-Illinois had a net margin of 3.12% and a return on equity of 86.07%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share. Equities research analysts predict that Owens-Illinois, Inc. will post $2.42 EPS for the current fiscal year.
This piece was published by sleekmoney and is owned by of sleekmoney. If you are accessing this piece on another site, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The correct version of this piece can be accessed at http://sleekmoney.com/frontier-wealth-management-llc-boosts-stake-in-owens-illinois-inc-oi/1660894.html.
Several research analysts recently weighed in on OI shares. Deutsche Bank AG reaffirmed a “hold” rating and issued a $20.00 target price (up from $18.73) on shares of Owens-Illinois in a research report on Tuesday, November 22nd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $19.00 target price on shares of Owens-Illinois in a research report on Thursday, October 20th. Credit Suisse Group reiterated a “buy” rating and issued a $28.00 price target on shares of Owens-Illinois in a report on Sunday, February 5th. Zacks Investment Research downgraded Owens-Illinois from a “hold” rating to a “sell” rating in a report on Thursday, January 5th. Finally, RBC Capital Markets reiterated a “hold” rating and issued a $19.00 price target on shares of Owens-Illinois in a report on Wednesday, January 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $21.67.
Owens-Illinois, Inc is engaged in the manufacturing of glass containers. The Company’s principal product lines are glass containers for the food and beverage industries. Its segments include Europe, North America, Latin America and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine.
Want to see what other hedge funds are holding OI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Owens-Illinois, Inc. (NYSE:OI).
This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/frontier-wealth-management-llc-boosts-stake-in-owens-illinois-inc-oi/1660894.html
Receive News & Ratings for Owens-Illinois Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens-Illinois Inc. and related companies with MarketBeat.com's FREE daily email newsletter.