Owens-Illinois Inc (NYSE:OI) Short Interest Down 10.3% in June

Owens-Illinois Inc (NYSE:OI) was the recipient of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 6,892,200 shares, a decrease of 10.3% from the May 30th total of 7,679,600 shares. Based on an average daily volume of 1,120,000 shares, the short-interest ratio is currently 6.2 days. Currently, 4.5% of the company’s shares are short sold.

A number of institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in shares of Owens-Illinois by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,296,265 shares of the industrial products company’s stock valued at $56,828,000 after purchasing an additional 8,718 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Owens-Illinois by 30.7% in the 1st quarter. JPMorgan Chase & Co. now owns 383,051 shares of the industrial products company’s stock valued at $7,271,000 after purchasing an additional 89,913 shares during the last quarter. FMR LLC raised its position in shares of Owens-Illinois by 33.0% in the 4th quarter. FMR LLC now owns 1,567,548 shares of the industrial products company’s stock valued at $27,025,000 after purchasing an additional 389,051 shares during the last quarter. Foundry Partners LLC raised its position in shares of Owens-Illinois by 8.9% in the 1st quarter. Foundry Partners LLC now owns 572,442 shares of the industrial products company’s stock valued at $10,865,000 after purchasing an additional 47,023 shares during the last quarter. Finally, Brightline Capital Management LLC purchased a new position in shares of Owens-Illinois in the 1st quarter valued at approximately $1,708,000. Institutional investors own 93.15% of the company’s stock.

Owens-Illinois stock traded down $0.02 during midday trading on Friday, hitting $16.90. 705,900 shares of the company’s stock were exchanged, compared to its average volume of 1,151,041. The company has a current ratio of 1.39, a quick ratio of 0.83 and a debt-to-equity ratio of 5.76. Owens-Illinois has a 12 month low of $15.67 and a 12 month high of $20.78. The business’s 50-day moving average price is $16.93. The firm has a market cap of $2.63 billion, a P/E ratio of 6.21, a PEG ratio of 0.85 and a beta of 1.43.

Owens-Illinois (NYSE:OI) last issued its earnings results on Wednesday, May 1st. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 the consensus estimate of $1.65 billion. During the same quarter in the previous year, the company earned $0.59 earnings per share. The firm’s revenue was down 7.8% on a year-over-year basis. As a group, sell-side analysts expect that Owens-Illinois will post 2.89 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.18%. The ex-dividend date was Thursday, May 30th. Owens-Illinois’s payout ratio is 7.35%.

A number of research analysts have recently commented on the stock. UFS upgraded shares of Owens-Illinois from a “neutral” rating to a “buy” rating in a report on Tuesday, April 30th. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Bank of America cut shares of Genesee & Wyoming from a “neutral” rating to an “underperform” rating and set a $88.65 target price on the stock. in a report on Tuesday, April 30th. Finally, Wells Fargo & Co reiterated a “buy” rating and set a $115.00 target price on shares of Tractor Supply in a report on Wednesday, May 15th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.41.

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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