Owens-Illinois (NYSE:OI) SVP Moyano Giancarlo Currarino sold 11,910 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $22.57, for a total value of $268,808.70. Following the transaction, the senior vice president now owns 28,070 shares in the company, valued at approximately $633,539.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
OI traded up $0.12 during trading on Thursday, reaching $21.48. The stock had a trading volume of 1,201,589 shares, compared to its average volume of 1,409,504. The stock has a market cap of $3,503.55, a PE ratio of 8.11, a P/E/G ratio of 1.35 and a beta of 1.41. The company has a quick ratio of 0.61, a current ratio of 1.06 and a debt-to-equity ratio of 5.52. Owens-Illinois has a one year low of $19.86 and a one year high of $25.90.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Owens-Illinois had a return on equity of 53.60% and a net margin of 2.65%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the firm earned $0.50 earnings per share. equities analysts anticipate that Owens-Illinois will post 2.81 earnings per share for the current year.
Owens-Illinois announced that its Board of Directors has approved a stock buyback program on Tuesday, February 6th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Institutional investors and hedge funds have recently modified their holdings of the business. Advisors Preferred LLC lifted its holdings in Owens-Illinois by 366.7% in the fourth quarter. Advisors Preferred LLC now owns 5,498 shares of the industrial products company’s stock worth $122,000 after buying an additional 4,320 shares during the period. Sei Investments Co. lifted its holdings in shares of Owens-Illinois by 61.2% during the third quarter. Sei Investments Co. now owns 7,376 shares of the industrial products company’s stock valued at $186,000 after purchasing an additional 2,799 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Owens-Illinois during the fourth quarter valued at approximately $188,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Owens-Illinois by 43.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,889 shares of the industrial products company’s stock valued at $197,000 after purchasing an additional 2,702 shares during the last quarter. Finally, Neuberger Berman Group LLC purchased a new position in shares of Owens-Illinois during the third quarter valued at approximately $211,000. Institutional investors and hedge funds own 95.23% of the company’s stock.
A number of equities research analysts recently weighed in on OI shares. Zacks Investment Research lowered Owens-Illinois from a “hold” rating to a “sell” rating in a research report on Monday, January 29th. Royal Bank of Canada reaffirmed a “hold” rating and set a $26.00 target price on shares of Owens-Illinois in a report on Thursday, December 14th. Vertical Research raised Owens-Illinois to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday, February 7th. ValuEngine raised Owens-Illinois from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Finally, Wells Fargo dropped their price target on Owens-Illinois from $24.00 to $23.00 and set a “market perform” rating on the stock in a research note on Friday, February 9th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $26.00.
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Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Europe, North America, Latin America, and the Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.
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