Owens-Illinois (NYSE:OI) Shares Up 14.8%

Owens-Illinois Inc (NYSE:OI) shares shot up 14.8% on Monday . The company traded as high as $6.88 and last traded at $6.45, 3,942,331 shares changed hands during trading. An increase of 36% from the average session volume of 2,889,523 shares. The stock had previously closed at $5.62.

A number of research analysts recently commented on OI shares. KeyCorp reaffirmed a “sell” rating and issued a $4.75 price target on shares of Owens-Illinois in a research note on Thursday, March 12th. Goldman Sachs Group raised Owens-Illinois from a “neutral” rating to a “buy” rating and upped their target price for the stock from $10.50 to $13.00 in a research report on Tuesday, December 10th. Zacks Investment Research lowered Owens-Illinois from a “hold” rating to a “sell” rating and set a $13.00 target price on the stock. in a research report on Monday, January 6th. Deutsche Bank upped their price target on Owens-Illinois from $12.00 to $15.00 and gave the stock a “positive” rating in a report on Monday, January 27th. Finally, Barclays upped their price target on Owens-Illinois from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, February 6th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $14.13.

The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.72 and a current ratio of 1.25. The stock has a market capitalization of $876.20 million, a P/E ratio of -2.52, a price-to-earnings-growth ratio of 0.19 and a beta of 1.70. The firm has a 50-day moving average price of $9.32 and a 200 day moving average price of $10.49.

Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.46 by $0.04. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.63 billion. Owens-Illinois had a positive return on equity of 45.16% and a negative net margin of 5.96%. The company’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company earned $0.61 EPS. On average, equities analysts anticipate that Owens-Illinois Inc will post 2.04 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 28th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Thursday, February 27th. Owens-Illinois’s payout ratio is presently 8.93%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. purchased a new position in Owens-Illinois during the first quarter valued at $25,000. Voya Investment Management LLC raised its stake in Owens-Illinois by 5.4% during the third quarter. Voya Investment Management LLC now owns 28,941 shares of the industrial products company’s stock valued at $297,000 after buying an additional 1,485 shares during the last quarter. California State Teachers Retirement System raised its stake in Owens-Illinois by 0.9% during the third quarter. California State Teachers Retirement System now owns 257,318 shares of the industrial products company’s stock valued at $2,643,000 after buying an additional 2,347 shares during the last quarter. Stifel Financial Corp raised its stake in Owens-Illinois by 25.5% during the third quarter. Stifel Financial Corp now owns 232,790 shares of the industrial products company’s stock valued at $2,366,000 after buying an additional 47,252 shares during the last quarter. Finally, Markel Corp purchased a new position in Owens-Illinois during the fourth quarter valued at $4,175,000. Institutional investors own 94.60% of the company’s stock.

About Owens-Illinois (NYSE:OI)

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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