BlackRock Inc. Sells 914,515 Shares of Owens-Illinois Inc (OI)

BlackRock Inc. lessened its holdings in Owens-Illinois Inc (NYSE:OI) by 6.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,329,815 shares of the industrial products company’s stock after selling 914,515 shares during the period. BlackRock Inc. owned 9.03% of Owens-Illinois worth $247,046,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC lifted its stake in shares of Owens-Illinois by 3.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 22,083 shares of the industrial products company’s stock valued at $381,000 after buying an additional 791 shares during the period. Arizona State Retirement System lifted its stake in shares of Owens-Illinois by 0.7% during the fourth quarter. Arizona State Retirement System now owns 113,904 shares of the industrial products company’s stock valued at $1,964,000 after buying an additional 831 shares during the period. Legal & General Group Plc lifted its stake in shares of Owens-Illinois by 0.6% during the third quarter. Legal & General Group Plc now owns 232,920 shares of the industrial products company’s stock valued at $4,376,000 after buying an additional 1,286 shares during the period. Trillium Asset Management LLC lifted its stake in shares of Owens-Illinois by 0.4% during the fourth quarter. Trillium Asset Management LLC now owns 360,181 shares of the industrial products company’s stock valued at $6,210,000 after buying an additional 1,309 shares during the period. Finally, Hourglass Capital LLC lifted its stake in shares of Owens-Illinois by 11.4% during the fourth quarter. Hourglass Capital LLC now owns 14,700 shares of the industrial products company’s stock valued at $253,000 after buying an additional 1,500 shares during the period. 96.52% of the stock is currently owned by institutional investors.

In related news, SVP Moyano Giancarlo Currarino sold 57,560 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $19.68, for a total transaction of $1,132,780.80. Following the completion of the transaction, the senior vice president now owns 63,508 shares of the company’s stock, valued at $1,249,837.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Timothy M. Connors sold 44,715 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $19.55, for a total transaction of $874,178.25. Following the transaction, the insider now directly owns 48,105 shares of the company’s stock, valued at approximately $940,452.75. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

Several brokerages recently issued reports on OI. KeyCorp downgraded shares of Owens-Illinois from a “sector weight” rating to an “underweight” rating and set a $16.00 price objective on the stock. in a research note on Monday, December 3rd. Barclays downgraded shares of Owens-Illinois from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $25.00 to $20.00 in a research note on Monday, January 7th. Zacks Investment Research downgraded shares of Owens-Illinois from a “hold” rating to a “sell” rating in a research note on Friday, February 1st. ValuEngine raised shares of Owens-Illinois from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 24th. Finally, TheStreet raised shares of Owens-Illinois from a “c+” rating to a “b” rating in a research note on Friday, January 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $21.39.

Shares of OI stock opened at $19.70 on Friday. Owens-Illinois Inc has a one year low of $15.67 and a one year high of $22.99. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 5.76. The company has a market cap of $3.03 billion, a P/E ratio of 7.24, a P/E/G ratio of 0.91 and a beta of 1.36.

Owens-Illinois (NYSE:OI) last issued its quarterly earnings results on Tuesday, February 5th. The industrial products company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.01). Owens-Illinois had a return on equity of 44.17% and a net margin of 3.75%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the company posted $0.55 EPS. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. Research analysts anticipate that Owens-Illinois Inc will post 2.94 EPS for the current year.

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Owens-Illinois Company Profile

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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