Teacher Retirement System of Texas boosted its position in Owens-Illinois Inc. (NYSE:OI) by 13.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,413 shares of the company’s stock after buying an additional 2,587 shares during the period. Teacher Retirement System of Texas’ holdings in Owens-Illinois were worth $386,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in OI. IBM Retirement Fund boosted its stake in shares of Owens-Illinois by 0.4% in the second quarter. IBM Retirement Fund now owns 16,284 shares of the company’s stock worth $293,000 after buying an additional 70 shares during the last quarter. Wilen Investment Management CORP. boosted its stake in shares of Owens-Illinois by 1.0% in the second quarter. Wilen Investment Management CORP. now owns 20,900 shares of the company’s stock worth $366,000 after buying an additional 200 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Owens-Illinois by 1.7% in the second quarter. CIBC Asset Management Inc now owns 14,865 shares of the company’s stock worth $268,000 after buying an additional 253 shares during the last quarter. Invictus RG boosted its stake in shares of Owens-Illinois by 3.1% in the first quarter. Invictus RG now owns 9,302 shares of the company’s stock worth $148,000 after buying an additional 282 shares during the last quarter. Finally, Moors & Cabot Inc. boosted its stake in shares of Owens-Illinois by 1.2% in the second quarter. Moors & Cabot Inc. now owns 26,300 shares of the company’s stock worth $477,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.
Owens-Illinois Inc. (NYSE:OI) opened at 18.04 on Monday. Owens-Illinois Inc. has a 12-month low of $11.58 and a 12-month high of $24.05. The stock’s 50 day moving average price is $17.96 and its 200 day moving average price is $18.12. The company has a market cap of $2.92 billion, a PE ratio of 15.05 and a beta of 1.96.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. Owens-Illinois had a positive return on equity of 67.16% and a negative net margin of 0.20%. The business earned $1.76 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the company earned $0.60 EPS. Owens-Illinois’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities research analysts anticipate that Owens-Illinois Inc. will post $2.32 EPS for the current year.
A number of brokerages have issued reports on OI. Zacks Investment Research cut Owens-Illinois from a “buy” rating to a “hold” rating in a research report on Monday, October 3rd. Royal Bank Of Canada began coverage on Owens-Illinois in a research report on Friday, September 30th. They issued a “sector perform” rating and a $18.00 price objective for the company. RBC Capital Markets began coverage on Owens-Illinois in a research report on Thursday, September 29th. They issued a “sector perform” rating and a $18.00 price objective for the company. Morgan Stanley reissued an “equal weight” rating and issued a $40.00 price objective on shares of Owens-Illinois in a research report on Saturday, August 13th. Finally, Jefferies Group increased their price objective on Owens-Illinois from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday, July 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $20.87.
Owens-Illinois, Inc is engaged in the manufacturing of glass containers. The Company’s principal product lines are glass containers for the food and beverage industries. Its segments include Europe, North America, Latin America and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine.
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