Owens-Illinois Inc (OI) Holdings Cut by Barings LLC

Barings LLC trimmed its position in Owens-Illinois Inc (NYSE:OI) by 37.1% in the second quarter, HoldingsChannel reports. The firm owned 30,800 shares of the industrial products company’s stock after selling 18,200 shares during the quarter. Barings LLC’s holdings in Owens-Illinois were worth $518,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of OI. Comerica Bank lifted its stake in Owens-Illinois by 4.2% in the 2nd quarter. Comerica Bank now owns 428,513 shares of the industrial products company’s stock worth $7,173,000 after purchasing an additional 17,319 shares in the last quarter. Wedge Capital Management L L P NC lifted its stake in Owens-Illinois by 16.4% in the 2nd quarter. Wedge Capital Management L L P NC now owns 5,370,451 shares of the industrial products company’s stock worth $90,277,000 after purchasing an additional 756,954 shares in the last quarter. First Quadrant L P CA lifted its stake in Owens-Illinois by 171.6% in the 2nd quarter. First Quadrant L P CA now owns 402,692 shares of the industrial products company’s stock worth $6,769,000 after purchasing an additional 254,424 shares in the last quarter. Eqis Capital Management Inc. lifted its stake in Owens-Illinois by 34.2% in the 2nd quarter. Eqis Capital Management Inc. now owns 62,837 shares of the industrial products company’s stock worth $1,056,000 after purchasing an additional 16,014 shares in the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new stake in Owens-Illinois in the 2nd quarter worth approximately $1,056,000. 95.90% of the stock is owned by institutional investors and hedge funds.

Owens-Illinois stock opened at $17.39 on Friday. The company has a debt-to-equity ratio of 5.98, a quick ratio of 0.76 and a current ratio of 1.21. The firm has a market cap of $2.82 billion, a PE ratio of 6.56, a P/E/G ratio of 0.98 and a beta of 1.45. Owens-Illinois Inc has a fifty-two week low of $16.22 and a fifty-two week high of $25.90.

Owens-Illinois (NYSE:OI) last posted its quarterly earnings data on Monday, July 23rd. The industrial products company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.03. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Owens-Illinois had a net margin of 2.01% and a return on equity of 45.52%. During the same quarter last year, the company posted $0.75 EPS. equities analysts forecast that Owens-Illinois Inc will post 2.75 earnings per share for the current year.

Several analysts have issued reports on OI shares. TheStreet upgraded shares of Owens-Illinois from a “c” rating to a “b-” rating in a research note on Monday, April 23rd. Zacks Investment Research upgraded shares of Owens-Illinois from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, April 19th. Deutsche Bank upgraded shares of Owens-Illinois from a “hold” rating to a “buy” rating and increased their target price for the stock from $19.45 to $25.90 in a research note on Thursday, April 26th. Citigroup lowered their target price on shares of Owens-Illinois from $29.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, July 10th. Finally, Barclays lowered their target price on shares of Owens-Illinois from $25.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 27th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $24.08.

Owens-Illinois 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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