Owens-Illinois (NYSE:OI) Hits New 12-Month Low at $10.20

Owens-Illinois Inc (NYSE:OI)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $10.20 and last traded at $10.22, with a volume of 48451 shares trading hands. The stock had previously closed at $10.33.

OI has been the topic of several research analyst reports. KeyCorp cut their target price on Owens-Illinois from $16.00 to $11.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. ValuEngine lowered Owens-Illinois from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. UFS upgraded Owens-Illinois from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 30th. Goldman Sachs Group upgraded Owens-Illinois from a “sell” rating to a “neutral” rating and cut their target price for the company from $17.00 to $13.00 in a research report on Monday, August 5th. Finally, Wells Fargo & Co upgraded Owens-Illinois from a “market perform” rating to an “outperform” rating and upped their target price for the company from $20.00 to $24.00 in a research report on Wednesday, May 15th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.89.

The firm has a fifty day simple moving average of $14.80 and a 200-day simple moving average of $17.60. The firm has a market cap of $1.67 billion, a P/E ratio of 3.78, a price-to-earnings-growth ratio of 1.34 and a beta of 1.41. The company has a debt-to-equity ratio of 5.72, a current ratio of 1.53 and a quick ratio of 1.00.

Owens-Illinois (NYSE:OI) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.07). The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.76 billion. Owens-Illinois had a return on equity of 39.73% and a net margin of 3.76%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.77 EPS. On average, equities analysts predict that Owens-Illinois Inc will post 2.45 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.20 annualized dividend and a yield of 1.95%. Owens-Illinois’s payout ratio is currently 7.35%.

In other news, Director Carol A. Williams purchased 10,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were acquired at an average price of $12.21 per share, for a total transaction of $122,100.00. Following the completion of the acquisition, the director now owns 60,761 shares in the company, valued at $741,891.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Owens-Illinois by 1.2% in the second quarter. Vanguard Group Inc. now owns 14,972,214 shares of the industrial products company’s stock valued at $258,570,000 after purchasing an additional 176,318 shares in the last quarter. BlackRock Inc. increased its position in shares of Owens-Illinois by 4.2% during the second quarter. BlackRock Inc. now owns 14,798,907 shares of the industrial products company’s stock valued at $255,580,000 after acquiring an additional 598,742 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Owens-Illinois by 14.4% during the second quarter. Russell Investments Group Ltd. now owns 7,216,527 shares of the industrial products company’s stock valued at $124,625,000 after acquiring an additional 909,934 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Owens-Illinois by 2.0% during the first quarter. Great West Life Assurance Co. Can now owns 7,163,900 shares of the industrial products company’s stock valued at $135,560,000 after acquiring an additional 141,987 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of Owens-Illinois by 5.6% during the second quarter. LSV Asset Management now owns 5,657,001 shares of the industrial products company’s stock valued at $97,696,000 after acquiring an additional 299,610 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Owens-Illinois Company Profile (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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