Jefferies Group LLC purchased a new position in Owens-Illinois Inc (NYSE:OI) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 84,047 shares of the industrial products company’s stock, valued at approximately $1,863,000. Jefferies Group LLC owned about 0.05% of Owens-Illinois at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Advisors Preferred LLC lifted its position in shares of Owens-Illinois by 366.7% during the 4th quarter. Advisors Preferred LLC now owns 5,498 shares of the industrial products company’s stock worth $122,000 after purchasing an additional 4,320 shares during the last quarter. Sei Investments Co. lifted its position in shares of Owens-Illinois by 61.2% during the 3rd quarter. Sei Investments Co. now owns 7,376 shares of the industrial products company’s stock worth $186,000 after purchasing an additional 2,799 shares during the last quarter. Neuberger Berman Group LLC acquired a new position in shares of Owens-Illinois during the 3rd quarter worth about $211,000. Tower Research Capital LLC TRC acquired a new position in shares of Owens-Illinois during the 4th quarter worth about $188,000. Finally, Alps Advisors Inc. acquired a new position in shares of Owens-Illinois during the 3rd quarter worth about $214,000. 95.08% of the stock is owned by institutional investors.
Several equities analysts recently weighed in on OI shares. Royal Bank of Canada reissued a “hold” rating and set a $26.00 price objective on shares of Owens-Illinois in a research report on Thursday, December 14th. Zacks Investment Research cut Owens-Illinois from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. Vertical Research raised Owens-Illinois to a “buy” rating and set a $27.00 price target for the company in a report on Wednesday, February 7th. Wells Fargo & Co cut their price target on Owens-Illinois from $24.00 to $23.00 and set a “market perform” rating for the company in a report on Friday, February 9th. Finally, ValuEngine raised Owens-Illinois from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $26.00.
Owens-Illinois (NYSE:OI) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. Owens-Illinois had a return on equity of 53.60% and a net margin of 2.65%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the company posted $0.50 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. equities research analysts expect that Owens-Illinois Inc will post 2.81 earnings per share for the current year.
Owens-Illinois announced that its board has authorized a stock repurchase plan on Tuesday, February 6th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
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Owens-Illinois, Inc is a manufacturer of glass container products. The Company’s principal product lines are glass containers for the food and beverage industries. The Company’s segments include Europe, North America, Latin America and Asia Pacific. The Company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine.
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