Commonwealth Bank of Australia Buys New Stake in Owens-Illinois Inc (OI)

Commonwealth Bank of Australia bought a new stake in shares of Owens-Illinois Inc (NYSE:OI) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 35,200 shares of the industrial products company’s stock, valued at approximately $661,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SRS Capital Advisors Inc. purchased a new stake in Owens-Illinois during the third quarter valued at $109,000. Point72 Hong Kong Ltd raised its stake in Owens-Illinois by 99,050.0% during the second quarter. Point72 Hong Kong Ltd now owns 7,932 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 7,924 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Owens-Illinois during the third quarter valued at $152,000. US Bancorp DE raised its stake in Owens-Illinois by 77.6% during the third quarter. US Bancorp DE now owns 8,146 shares of the industrial products company’s stock valued at $153,000 after purchasing an additional 3,558 shares in the last quarter. Finally, Hartford Investment Management Co. purchased a new stake in Owens-Illinois during the second quarter valued at $168,000. Institutional investors own 91.73% of the company’s stock.

OI stock opened at $17.64 on Monday. The company has a current ratio of 1.32, a quick ratio of 0.84 and a debt-to-equity ratio of 5.14. Owens-Illinois Inc has a twelve month low of $15.67 and a twelve month high of $24.66. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 6.66, a PEG ratio of 0.94 and a beta of 1.47.

Owens-Illinois (NYSE:OI) last posted its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.75 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.75. Owens-Illinois had a net margin of 1.94% and a return on equity of 43.27%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the business posted $0.77 earnings per share. The business’s revenue was down 5.6% compared to the same quarter last year. As a group, analysts anticipate that Owens-Illinois Inc will post 2.73 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 12th. Shareholders of record on Tuesday, January 22nd will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Friday, January 18th.

A number of research firms recently issued reports on OI. Wells Fargo & Co upped their price target on shares of Owens-Illinois from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Thursday, November 15th. Credit Suisse Group decreased their price target on shares of Owens-Illinois from $32.00 to $24.00 and set an “outperform” rating on the stock in a research note on Monday, November 12th. Bank of America raised shares of Owens-Illinois from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Friday, November 9th. Finally, Zacks Investment Research downgraded shares of Owens-Illinois from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $23.49.

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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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