Owens-Illinois Inc (OI) Position Raised by Comerica Bank

Comerica Bank boosted its position in shares of Owens-Illinois Inc (NYSE:OI) by 9.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 469,328 shares of the industrial products company’s stock after purchasing an additional 40,815 shares during the period. Comerica Bank owned approximately 0.29% of Owens-Illinois worth $8,148,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. US Bancorp DE grew its holdings in Owens-Illinois by 77.6% during the 3rd quarter. US Bancorp DE now owns 8,146 shares of the industrial products company’s stock valued at $153,000 after purchasing an additional 3,558 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in Owens-Illinois by 2.7% during the 2nd quarter. Mutual of America Capital Management LLC now owns 138,969 shares of the industrial products company’s stock valued at $2,336,000 after purchasing an additional 3,718 shares in the last quarter. LPL Financial LLC grew its holdings in Owens-Illinois by 11.2% during the 1st quarter. LPL Financial LLC now owns 44,651 shares of the industrial products company’s stock valued at $966,000 after purchasing an additional 4,481 shares in the last quarter. Voya Investment Management LLC grew its holdings in Owens-Illinois by 8.2% during the 2nd quarter. Voya Investment Management LLC now owns 59,970 shares of the industrial products company’s stock valued at $1,008,000 after purchasing an additional 4,548 shares in the last quarter. Finally, Spark Investment Management LLC grew its holdings in Owens-Illinois by 26.7% during the 2nd quarter. Spark Investment Management LLC now owns 21,800 shares of the industrial products company’s stock valued at $366,000 after purchasing an additional 4,600 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have commented on the stock. Bank of America upgraded shares of Owens-Illinois from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Friday. Wells Fargo & Co reduced their price objective on shares of Owens-Illinois from $20.00 to $18.00 and set a “market perform” rating on the stock in a research note on Thursday, November 1st. Robert W. Baird reduced their price objective on shares of Owens-Illinois from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 25th. Finally, Zacks Investment Research downgraded shares of Owens-Illinois from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $23.21.

Shares of NYSE:OI opened at $16.60 on Friday. The stock has a market capitalization of $2.70 billion, a P/E ratio of 6.26, a PEG ratio of 1.03 and a beta of 1.47. Owens-Illinois Inc has a fifty-two week low of $15.67 and a fifty-two week high of $24.66. 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 (NYSE:OI) last issued its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.75 earnings per share 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 the consensus estimate of $1.78 billion. Owens-Illinois had a net margin of 1.94% and a return on equity of 43.27%. Owens-Illinois’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.77 EPS. On average, research analysts expect that Owens-Illinois Inc will post 2.73 earnings per share for the current fiscal year.

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About Owens-Illinois

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.

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Institutional Ownership by Quarter for Owens-Illinois (NYSE:OI)

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