Owens-Illinois Inc (NYSE:OI) Shares Sold by BlackRock Inc.

BlackRock Inc. lowered its stake in shares of Owens-Illinois Inc (NYSE:OI) by 0.9% during the first quarter, HoldingsChannel reports. The firm owned 14,200,165 shares of the industrial products company’s stock after selling 129,650 shares during the period. BlackRock Inc. owned approximately 0.09% of Owens-Illinois worth $269,520,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in OI. Norges Bank acquired a new stake in Owens-Illinois during the fourth quarter worth approximately $21,545,000. Oregon Public Employees Retirement Fund raised its holdings in Owens-Illinois by 1,600.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,085,810 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 1,021,967 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in Owens-Illinois during the fourth quarter worth approximately $10,877,000. FMR LLC raised its holdings in Owens-Illinois by 33.0% during the fourth quarter. FMR LLC now owns 1,567,548 shares of the industrial products company’s stock worth $27,025,000 after purchasing an additional 389,051 shares in the last quarter. Finally, LSV Asset Management raised its holdings in Owens-Illinois by 6.4% during the first quarter. LSV Asset Management now owns 5,357,391 shares of the industrial products company’s stock worth $101,683,000 after purchasing an additional 324,030 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

Shares of OI opened at $17.04 on Friday. The company has a debt-to-equity ratio of 5.76, a quick ratio of 0.83 and a current ratio of 1.39. The company has a market cap of $2.65 billion, a PE ratio of 6.26, a price-to-earnings-growth ratio of 0.85 and a beta of 1.44. Owens-Illinois Inc has a 12-month low of $15.67 and a 12-month high of $20.78.

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

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be given a $0.05 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.20 dividend on an annualized basis and a yield of 1.17%. Owens-Illinois’s dividend payout ratio (DPR) is 7.35%.

A number of equities analysts have recently issued reports on OI shares. TheStreet lowered shares of Owens-Illinois from a “b” rating to a “c+” rating in a research report on Monday, March 11th. ValuEngine lowered shares of Owens-Illinois from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 18th. Wells Fargo & Co upgraded shares of Owens-Illinois from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $20.00 to $24.00 in a research report on Wednesday, May 15th. Bank of America upgraded shares of Owens-Illinois from a “neutral” rating to a “buy” rating and raised their target price for the stock from $21.00 to $24.00 in a research report on Tuesday, April 30th. Finally, UFS upgraded shares of Owens-Illinois from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 30th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Owens-Illinois currently has an average rating of “Hold” and a consensus price target of $21.81.

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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 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.

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

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