Janney Montgomery Scott LLC Has $538,000 Position in Owens-Illinois Inc (OI)
Janney Montgomery Scott LLC boosted its stake in shares of Owens-Illinois Inc (NYSE:OI) by 48.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,402 shares of the industrial products company’s stock after buying an additional 7,011 shares during the period. Janney Montgomery Scott LLC’s holdings in Owens-Illinois were worth $538,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of OI. DekaBank Deutsche Girozentrale boosted its stake in Owens-Illinois by 104.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,635 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 2,366 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in Owens-Illinois by 163.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 6,714 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 4,169 shares during the last quarter. Flinton Capital Management LLC boosted its stake in Owens-Illinois by 74.4% during the 2nd quarter. Flinton Capital Management LLC now owns 7,200 shares of the industrial products company’s stock valued at $172,000 after purchasing an additional 3,072 shares during the last quarter. Sei Investments Co. boosted its stake in Owens-Illinois by 61.2% during the 3rd quarter. Sei Investments Co. now owns 7,376 shares of the industrial products company’s stock valued at $186,000 after purchasing an additional 2,799 shares during the last quarter. Finally, Biltmore Wealth Management LLC purchased a new stake in Owens-Illinois during the 3rd quarter valued at $201,000. 93.58% of the stock is owned by institutional investors.
Several analysts have commented on OI shares. ValuEngine downgraded Owens-Illinois from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 22nd. Zacks Investment Research upgraded Owens-Illinois from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Thursday, September 21st. Bank of America increased their target price on Owens-Illinois from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. TheStreet downgraded Owens-Illinois from a “b” rating to a “c+” rating in a research note on Wednesday, October 25th. Finally, Robert W. Baird restated a “hold” rating and issued a $25.00 price target on shares of Owens-Illinois in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Owens-Illinois presently has an average rating of “Hold” and an average target price of $26.36.
Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Monday, October 23rd. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.04. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.77 billion. Owens-Illinois had a return on equity of 63.33% and a net margin of 3.59%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. research analysts predict that Owens-Illinois Inc will post 2.64 earnings per share for the current year.
In other news, insider Timothy M. Connors sold 3,500 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $23.86, for a total value of $83,510.00. Following the transaction, the insider now directly owns 19,624 shares in the company, valued at approximately $468,228.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.
Owens-Illinois, Inc is a manufacturer of glass container products. The Company’s principal product lines are glass containers for the food and beverage industries. The Company’s segments include Europe, North America, Latin America and Asia Pacific. The Company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine.
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