Owens-Illinois Inc (NYSE:OI) announced a quarterly dividend on Wednesday, July 31st, Zacks reports. Investors of record on Friday, August 30th will be paid a dividend of 0.05 per share by the industrial products company on Monday, September 16th. This represents a $0.20 annualized dividend and a yield of 1.57%. The ex-dividend date is Thursday, August 29th.
Owens-Illinois has a dividend payout ratio of 7.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Owens-Illinois to earn $3.15 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 6.3%.
Shares of NYSE:OI opened at $12.72 on Friday. The company has a market cap of $2.69 billion, a P/E ratio of 4.68, a PEG ratio of 0.87 and a beta of 1.43. The firm has a 50-day moving average price of $17.07. Owens-Illinois has a fifty-two week low of $12.82 and a fifty-two week high of $20.78. The company has a debt-to-equity ratio of 5.76, a quick ratio of 0.83 and a current ratio of 1.39.
OI has been the topic of several recent research reports. Bank of America downgraded shares of Owens-Illinois from a “buy” rating to a “neutral” rating in a research report on Friday. Wells Fargo & Co upgraded shares of Owens-Illinois from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $20.00 to $24.00 in a research report on Wednesday, May 15th. ValuEngine downgraded shares of Owens-Illinois from a “sell” rating to a “strong sell” rating in a research report on Thursday. UFS upgraded shares of Owens-Illinois from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 30th. Finally, KeyCorp dropped their price target on shares of Owens-Illinois from $16.00 to $11.00 and set an “underweight” rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $20.43.
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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