Owens-Illinois Inc (NYSE:OI) has received a consensus rating of “Hold” from the twelve ratings firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $21.76.
OI has been the topic of several analyst reports. BMO Capital Markets cut their price target on shares of Owens-Illinois to $21.00 and set a “market perform” rating on the stock in a report on Thursday, February 7th. Bank of America downgraded shares of Owens-Illinois from a “buy” rating to a “neutral” rating and set a $19.72 price target on the stock. in a report on Thursday, February 7th. They noted that the move was a valuation call. TheStreet upgraded shares of Owens-Illinois from a “c+” rating to a “b” rating in a report on Friday, January 25th. ValuEngine downgraded shares of Owens-Illinois from a “sell” rating to a “strong sell” rating in a report on Thursday, April 18th. Finally, Wells Fargo & Co upgraded shares of Owens-Illinois from a “market perform” rating to an “outperform” rating and upped their price target for the company from $20.00 to $24.00 in a report on Wednesday.
In other Owens-Illinois news, insider Timothy M. Connors sold 44,715 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $19.55, for a total value of $874,178.25. Following the completion of the sale, the insider now directly owns 48,105 shares of the company’s stock, valued at approximately $940,452.75. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Moyano Giancarlo Currarino sold 57,560 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $19.68, for a total transaction of $1,132,780.80. Following the completion of the sale, the senior vice president now directly owns 63,508 shares of the company’s stock, valued at $1,249,837.44. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new position in Owens-Illinois during the 1st quarter valued at approximately $420,000. BlueCrest Capital Management Ltd acquired a new position in Owens-Illinois during the 1st quarter valued at approximately $820,000. HighTower Advisors LLC acquired a new position in Owens-Illinois during the 1st quarter valued at approximately $1,414,000. Bernzott Capital Advisors increased its stake in Owens-Illinois by 0.6% during the 1st quarter. Bernzott Capital Advisors now owns 1,381,283 shares of the industrial products company’s stock valued at $26,217,000 after purchasing an additional 8,855 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Owens-Illinois during the 1st quarter valued at approximately $588,000. 95.67% of the stock is owned by institutional investors.
NYSE:OI traded down $0.04 during mid-day trading on Friday, hitting $17.47. 7,688 shares of the stock traded hands, compared to its average volume of 1,204,182. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 6.39, a PEG ratio of 0.85 and a beta of 1.35. Owens-Illinois has a 52 week low of $15.67 and a 52 week high of $20.78. The company has a current ratio of 1.39, a quick ratio of 0.83 and a debt-to-equity ratio of 5.76.
Owens-Illinois (NYSE:OI) last issued its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.02). The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.65 billion. Owens-Illinois had a net margin of 3.53% and a return on equity of 43.45%. The business’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 earnings per share. As a group, equities analysts forecast that Owens-Illinois will post 2.91 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.20 annualized dividend and a yield of 1.14%. Owens-Illinois’s dividend payout ratio (DPR) is 7.35%.
Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Americas, Europe, and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. The company is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals.
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