Owens-Illinois Inc (OI) Stake Raised by Arizona State Retirement System

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Arizona State Retirement System grew its position in shares of Owens-Illinois Inc (NYSE:OI) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,904 shares of the industrial products company’s stock after buying an additional 831 shares during the quarter. Arizona State Retirement System owned 0.07% of Owens-Illinois worth $1,964,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of OI. Alpha Omega Wealth Management LLC purchased a new stake in Owens-Illinois in the fourth quarter worth approximately $29,000. SRS Capital Advisors Inc. purchased a new stake in Owens-Illinois in the third quarter worth approximately $109,000. Acadian Asset Management LLC purchased a new stake in Owens-Illinois in the third quarter worth approximately $152,000. US Bancorp DE boosted its holdings in Owens-Illinois by 77.6% in the third quarter. US Bancorp DE now owns 8,146 shares of the industrial products company’s stock worth $153,000 after purchasing an additional 3,558 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Owens-Illinois in the third quarter worth approximately $170,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

OI opened at $19.80 on Thursday. The company has a debt-to-equity ratio of 5.76, a quick ratio of 0.61 and a current ratio of 1.07. Owens-Illinois Inc has a 1-year low of $15.67 and a 1-year high of $23.45. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 7.28, a price-to-earnings-growth ratio of 0.86 and a beta of 1.38.

Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Tuesday, February 5th. The industrial products company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). Owens-Illinois had a return on equity of 44.17% and a net margin of 3.75%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the business posted $0.55 earnings per share. The firm’s revenue was down 5.9% on a year-over-year basis. On average, equities analysts anticipate that Owens-Illinois Inc will post 2.94 EPS for the current year.

OI has been the topic of several research reports. TheStreet upgraded shares of Owens-Illinois from a “c+” rating to a “b” rating in a report on Friday, January 25th. Bank of America upgraded shares of Owens-Illinois from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Friday, November 9th. Zacks Investment Research upgraded shares of Owens-Illinois from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Wednesday, January 2nd. Wells Fargo & Co dropped their target price on shares of Owens-Illinois from $20.00 to $18.00 and set a “market perform” rating on the stock in a report on Thursday, November 1st. Finally, BMO Capital Markets dropped their target price on shares of Owens-Illinois to $21.00 and set a “market perform” rating on the stock in a report on Thursday, February 7th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $21.39.

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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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