Morgan Stanley Buys 29,614 Shares of Owens-Illinois Inc (NYSE:OI)

Morgan Stanley lifted its stake in shares of Owens-Illinois Inc (NYSE:OI) by 9.4% during the second quarter, HoldingsChannel reports. The firm owned 345,834 shares of the industrial products company’s stock after acquiring an additional 29,614 shares during the quarter. Morgan Stanley’s holdings in Owens-Illinois were worth $5,972,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in OI. Russell Investments Group Ltd. increased its holdings in shares of Owens-Illinois by 14.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,216,527 shares of the industrial products company’s stock worth $124,625,000 after acquiring an additional 909,934 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Owens-Illinois by 4.2% during the 2nd quarter. BlackRock Inc. now owns 14,798,907 shares of the industrial products company’s stock worth $255,580,000 after acquiring an additional 598,742 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of Owens-Illinois by 37.7% during the 2nd quarter. Prudential Financial Inc. now owns 1,660,573 shares of the industrial products company’s stock worth $28,678,000 after acquiring an additional 454,340 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Owens-Illinois by 16.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,184,629 shares of the industrial products company’s stock worth $37,728,000 after acquiring an additional 303,117 shares during the last quarter. Finally, LSV Asset Management increased its holdings in shares of Owens-Illinois by 5.6% during the 2nd quarter. LSV Asset Management now owns 5,657,001 shares of the industrial products company’s stock worth $97,696,000 after acquiring an additional 299,610 shares during the last quarter. Institutional investors own 91.63% of the company’s stock.

OI has been the topic of a number of recent analyst reports. Wells Fargo & Co decreased their target price on Owens-Illinois from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. ValuEngine raised Owens-Illinois from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. UBS Group decreased their target price on Owens-Illinois from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Citigroup decreased their target price on Owens-Illinois from $14.00 to $11.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Finally, Credit Suisse Group decreased their price objective on Owens-Illinois from $24.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $16.10.

Shares of NYSE OI opened at $9.99 on Tuesday. The company has a debt-to-equity ratio of 5.72, a current ratio of 1.53 and a quick ratio of 1.00. The stock’s fifty day moving average price is $9.93 and its two-hundred day moving average price is $14.68. Owens-Illinois Inc has a one year low of $8.91 and a one year high of $20.78. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 3.67, a P/E/G ratio of 1.30 and a beta of 1.52.

Owens-Illinois (NYSE:OI) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.07). Owens-Illinois had a net margin of 3.76% and a return on equity of 39.73%. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities analysts anticipate that Owens-Illinois Inc will post 2.3 earnings per share for the current fiscal year.

In other news, Director Carol A. Williams acquired 10,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $12.21 per share, with a total value of $122,100.00. Following the acquisition, the director now directly owns 60,761 shares in the company, valued at approximately $741,891.81. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.

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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