Clark Estates Inc. NY trimmed its position in shares of Owens-Illinois Inc (NYSE:OI) by 9.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,177,500 shares of the industrial products company’s stock after selling 122,500 shares during the quarter. Owens-Illinois makes up about 3.3% of Clark Estates Inc. NY’s investment portfolio, making the stock its 8th biggest position. Clark Estates Inc. NY owned 0.74% of Owens-Illinois worth $22,125,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. bought a new stake in shares of Owens-Illinois during the third quarter valued at approximately $109,000. Point72 Hong Kong Ltd grew its stake in shares of Owens-Illinois by 99,050.0% during the second quarter. Point72 Hong Kong Ltd now owns 7,932 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 7,924 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Owens-Illinois during the third quarter valued at approximately $152,000. US Bancorp DE grew its stake in shares of Owens-Illinois by 77.6% during the third 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 during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Owens-Illinois during the third quarter valued at approximately $170,000. 91.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of OI stock opened at $18.41 on Friday. Owens-Illinois Inc has a 52-week low of $15.67 and a 52-week high of $24.66. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 6.95, a price-to-earnings-growth ratio of 0.96 and a beta of 1.47. The company has a current ratio of 1.32, a quick ratio of 0.84 and a debt-to-equity ratio of 5.14.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. Owens-Illinois had a net margin of 1.94% and a return on equity of 43.27%. The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the firm earned $0.77 earnings per share. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities analysts anticipate that Owens-Illinois Inc will post 2.73 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 12th. Shareholders of record on Tuesday, January 22nd will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, January 18th. This represents a $0.20 annualized dividend and a yield of 1.09%.
OI has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Owens-Illinois from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Bank of America raised 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, November 9th. 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. Finally, Credit Suisse Group reduced their price objective on shares of Owens-Illinois from $32.00 to $24.00 and set an “outperform” rating on the stock in a research note on Monday, November 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $23.49.
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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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