Moody National Bank Trust Division acquired a new position in Owens-Illinois Inc (NYSE:OI) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,216 shares of the industrial products company’s stock, valued at approximately $267,000.
Several other institutional investors have also recently modified their holdings of the company. LPL Financial LLC increased its position in Owens-Illinois by 11.2% during the first quarter. LPL Financial LLC now owns 44,651 shares of the industrial products company’s stock worth $966,000 after acquiring an additional 4,481 shares during the period. Millennium Management LLC increased its position in Owens-Illinois by 53.3% during the first quarter. Millennium Management LLC now owns 235,812 shares of the industrial products company’s stock worth $5,108,000 after acquiring an additional 81,957 shares during the period. Xact Kapitalforvaltning AB increased its position in Owens-Illinois by 28.9% during the second quarter. Xact Kapitalforvaltning AB now owns 27,669 shares of the industrial products company’s stock worth $465,000 after acquiring an additional 6,200 shares during the period. Atria Investments LLC increased its position in Owens-Illinois by 41.2% during the second quarter. Atria Investments LLC now owns 26,589 shares of the industrial products company’s stock worth $447,000 after acquiring an additional 7,757 shares during the period. Finally, Bank of Montreal Can increased its position in Owens-Illinois by 1.9% during the second quarter. Bank of Montreal Can now owns 1,208,807 shares of the industrial products company’s stock worth $20,320,000 after acquiring an additional 22,402 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.
Shares of Owens-Illinois stock opened at $17.03 on Wednesday. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 6.43, a price-to-earnings-growth ratio of 1.07 and a beta of 1.47. The company has a debt-to-equity ratio of 5.14, a quick ratio of 0.84 and a current ratio of 1.32. Owens-Illinois Inc has a 52-week low of $15.67 and a 52-week high of $24.66.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.78 billion. Owens-Illinois had a net margin of 1.94% and a return on equity of 43.27%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 EPS. Analysts expect that Owens-Illinois Inc will post 2.73 EPS for the current fiscal year.
Several equities research analysts have issued reports on OI shares. Zacks Investment Research lowered shares of Owens-Illinois from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Bank of America set a $22.00 price target on shares of Owens-Illinois and gave the company a “hold” rating in a report on Wednesday, July 25th. Wells Fargo & Co lowered their price target on shares of Owens-Illinois from $20.00 to $18.00 and set a “market perform” rating on the stock in a report on Thursday, November 1st. Citigroup lowered their price target on shares of Owens-Illinois from $29.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, July 10th. Finally, Robert W. Baird lowered their price target on shares of Owens-Illinois from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, July 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $23.21.
TRADEMARK VIOLATION NOTICE: This story was originally posted by Macon Daily and is the sole property of of Macon Daily. If you are accessing this story on another domain, it was illegally copied and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be read at https://macondaily.com/2018/11/07/14216-shares-in-owens-illinois-inc-oi-purchased-by-moody-national-bank-trust-division.html.
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.
Featured Article: Asset Allocation and Your Retirement
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).
Receive News & Ratings for Owens-Illinois Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens-Illinois and related companies with MarketBeat.com's FREE daily email newsletter.