State of Tennessee Treasury Department held its position in Owens-Illinois Inc (NYSE:OI) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,900 shares of the industrial products company’s stock at the end of the first quarter. State of Tennessee Treasury Department’s holdings in Owens-Illinois were worth $1,384,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Systematic Financial Management LP bought a new position in Owens-Illinois during the fourth quarter valued at $1,607,000. Federated Investors Inc. PA raised its position in Owens-Illinois by 3.9% in the fourth quarter. Federated Investors Inc. PA now owns 1,723,838 shares of the industrial products company’s stock valued at $30,013,000 after buying an additional 64,948 shares during the last quarter. Martingale Asset Management L P bought a new position in Owens-Illinois during the fourth quarter valued at $1,918,000. TCW Group Inc. raised its position in Owens-Illinois by 105.0% in the fourth quarter. TCW Group Inc. now owns 24,605 shares of the industrial products company’s stock valued at $428,000 after buying an additional 12,605 shares during the last quarter. Finally, Baird Financial Group Inc. bought a new position in Owens-Illinois during the fourth quarter valued at $459,000. 96.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Owens-Illinois Inc (NYSE:OI) opened at 22.44 on Friday. The company has a market capitalization of $3.65 billion, a P/E ratio of 19.28 and a beta of 1.48. The firm has a 50 day moving average price of $22.09 and a 200 day moving average price of $20.00. Owens-Illinois Inc has a one year low of $16.18 and a one year high of $23.34.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Monday, April 24th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Owens-Illinois had a return on equity of 86.07% and a net margin of 3.12%. The firm’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 EPS. On average, equities research analysts predict that Owens-Illinois Inc will post $2.49 EPS for the current fiscal year.
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Several equities analysts have weighed in on the company. ValuEngine lowered Owens-Illinois from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 3rd. Zacks Investment Research raised Owens-Illinois from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Monday, May 29th. Barclays PLC increased their price target on Owens-Illinois from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, May 1st. Deutsche Bank AG restated a “hold” rating and issued a $24.00 price target (up from $20.00) on shares of Owens-Illinois in a report on Saturday, April 29th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $20.00 price target (up from $19.00) on shares of Owens-Illinois in a report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $24.67.
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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