Weekly Analysts’ Ratings Updates for Owens-Illinois (OI)

Owens-Illinois (NYSE: OI) recently received a number of ratings updates from brokerages and research firms:

  • 5/15/2019 – Owens-Illinois was upgraded by analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating. They now have a $24.00 price target on the stock, up previously from $20.00.
  • 4/30/2019 – Owens-Illinois was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 4/30/2019 – Owens-Illinois was upgraded by analysts at UFS from a “neutral” rating to a “buy” rating.
  • 4/30/2019 – Owens-Illinois was upgraded by analysts at Bank of America Corp from a “neutral” rating to a “buy” rating. They now have a $24.00 price target on the stock, up previously from $21.00.
  • 4/18/2019 – Owens-Illinois was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.

OI traded down $0.03 during midday trading on Thursday, hitting $17.55. The company’s stock had a trading volume of 21,396 shares, compared to its average volume of 1,274,295. The company has a debt-to-equity ratio of 5.76, a current ratio of 1.39 and a quick ratio of 0.83. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 6.45, a price-to-earnings-growth ratio of 0.82 and a beta of 1.35. Owens-Illinois Inc has a 52-week low of $15.67 and a 52-week high of $20.78.

Owens-Illinois (NYSE:OI) last posted its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.02). The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Owens-Illinois had a net margin of 3.53% and a return on equity of 43.45%. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 EPS. Equities research analysts anticipate that Owens-Illinois Inc will post 2.91 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, May 30th. Owens-Illinois’s dividend payout ratio (DPR) is 7.35%.

In other news, insider Timothy M. Connors sold 44,715 shares of Owens-Illinois stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $19.55, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Moyano Giancarlo Currarino sold 57,560 shares of Owens-Illinois stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $19.68, for a total value of $1,132,780.80. Following the completion of the transaction, the senior vice president now directly owns 63,508 shares in the company, valued at $1,249,837.44. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. acquired a new position in Owens-Illinois during the 1st quarter worth approximately $25,000. Alpha Omega Wealth Management LLC acquired a new position in Owens-Illinois during the 4th quarter worth approximately $29,000. Destination Wealth Management acquired a new position in Owens-Illinois during the 4th quarter worth approximately $41,000. North Star Investment Management Corp. lifted its position in Owens-Illinois by 105.7% during the 1st quarter. North Star Investment Management Corp. now owns 2,160 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 1,110 shares in the last quarter. Finally, Zions Bancorporation N.A. acquired a new position in Owens-Illinois during the 1st quarter worth approximately $46,000. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Americas, Europe, and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. The company is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals.

See Also: Gross Domestic Product (GDP)

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