PNC Financial Services Group Inc. boosted its stake in Owens & Minor Inc. (NYSE:OMI) by 11.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,020 shares of the company’s stock after buying an additional 819 shares during the period. PNC Financial Services Group Inc.’s holdings in Owens & Minor were worth $299,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in OMI. LS Investment Advisors LLC increased its stake in Owens & Minor by 66.2% in the second quarter. LS Investment Advisors LLC now owns 4,144 shares of the company’s stock valued at $155,000 after buying an additional 1,650 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Owens & Minor during the first quarter valued at approximately $208,000. Wellington Management Group LLP acquired a new stake in shares of Owens & Minor during the first quarter valued at approximately $221,000. Parametrica Management Ltd acquired a new stake in shares of Owens & Minor during the second quarter valued at approximately $297,000. Finally, First Quadrant L P CA acquired a new stake in shares of Owens & Minor during the second quarter valued at approximately $325,000. 96.91% of the stock is owned by hedge funds and other institutional investors.
Owens & Minor Inc. (NYSE:OMI) traded up 1.16% during trading on Friday, hitting $34.75. The stock had a trading volume of 262,200 shares. Owens & Minor Inc. has a 12 month low of $32.30 and a 12 month high of $41.48. The firm has a 50 day moving average of $34.08 and a 200-day moving average of $36.63. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 19.40 and a beta of 0.84.
Owens & Minor (NYSE:OMI) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The firm earned $2.48 billion during the quarter, compared to analyst estimates of $2.47 billion. Owens & Minor had a return on equity of 13.28% and a net margin of 1.13%. Owens & Minor’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 earnings per share. Equities analysts predict that Owens & Minor Inc. will post $0.09 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a $0.255 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.97%. Owens & Minor’s payout ratio is 56.67%.
Several analysts have commented on OMI shares. Zacks Investment Research downgraded Owens & Minor from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Bank of America Corp. started coverage on Owens & Minor in a research note on Monday, September 12th. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Owens & Minor has an average rating of “Hold” and an average price target of $36.60.
In related news, Director Craig R. Smith sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $35.42, for a total value of $265,650.00. Following the completion of the transaction, the director now owns 104,482 shares of the company’s stock, valued at $3,700,752.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Erika T. Davis sold 2,900 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $34.31, for a total transaction of $99,499.00. Following the completion of the transaction, the senior vice president now directly owns 61,867 shares of the company’s stock, valued at approximately $2,122,656.77. The disclosure for this sale can be found here. 1.72% of the stock is owned by corporate insiders.
About Owens & Minor
Owens & Minor, Inc is a global healthcare services company. The Company provides supply chain assistance to the providers of healthcare services and the manufacturers of healthcare products, supplies and devices in the United States and Europe. The Company operates in two segments: Domestic and International.
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