Parametric Portfolio Associates LLC Has $21.27 Million Stake in Owens-Illinois, Inc. (OI)
Parametric Portfolio Associates LLC decreased its stake in Owens-Illinois, Inc. (NYSE:OI) by 3.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 889,283 shares of the industrial products company’s stock after selling 27,510 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.55% of Owens-Illinois worth $21,272,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. DekaBank Deutsche Girozentrale boosted its holdings in Owens-Illinois by 104.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 4,635 shares of the industrial products company’s stock worth $110,000 after buying an additional 2,366 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Owens-Illinois during the second quarter valued at $113,000. Acrospire Investment Management LLC grew its position in Owens-Illinois by 163.8% during the second 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. OLD Mutual Customised Solutions Proprietary Ltd. grew its position in Owens-Illinois by 113.2% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,100 shares of the industrial products company’s stock valued at $165,000 after buying an additional 4,300 shares during the period. Finally, American National Insurance Co. TX acquired a new stake in Owens-Illinois during the second quarter valued at $227,000. Hedge funds and other institutional investors own 95.06% of the company’s stock.
Owens-Illinois, Inc. (NYSE:OI) opened at 25.48 on Wednesday. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of 18.46 and a beta of 1.49. The company has a 50-day moving average of $24.33 and a 200-day moving average of $22.94. Owens-Illinois, Inc. has a 52 week low of $16.80 and a 52 week high of $25.50.
Owens-Illinois (NYSE:OI) last released its earnings results on Monday, July 31st. The industrial products company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 72.15% and a net margin of 3.36%. Owens-Illinois’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 earnings per share. Analysts anticipate that Owens-Illinois, Inc. will post $2.63 earnings per share for the current year.
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A number of research analysts have weighed in on the stock. BidaskClub downgraded shares of Owens-Illinois from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research cut Owens-Illinois from a “buy” rating to a “sell” rating in a research report on Tuesday. 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. ValuEngine upgraded Owens-Illinois from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Finally, UBS AG initiated coverage on Owens-Illinois in a report on Tuesday, September 5th. They issued a “neutral” rating and a $26.00 price target for the company. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $25.60.
In other news, SVP Moyano Giancarlo Currarino sold 1,360 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $23.97, for a total transaction of $32,599.20. Following the sale, the senior vice president now owns 23,954 shares of the company’s stock, valued at approximately $574,177.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sergio B.O. Galindo sold 5,477 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $24.93, for a total value of $136,541.61. Following the sale, the insider now directly owns 34,890 shares in the company, valued at approximately $869,807.70. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
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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