Owens-Illinois Inc (NYSE:OI)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $10.66 and last traded at $10.68, with a volume of 269251 shares changing hands. The stock had previously closed at $10.86.
Several research firms recently commented on OI. KeyCorp dropped their price objective 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. Goldman Sachs Group raised Owens-Illinois from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $17.00 to $13.00 in a research report on Monday, August 5th. Citigroup lowered their target price on Owens-Illinois from $19.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Wells Fargo & Co raised Owens-Illinois from a “market perform” rating to an “outperform” rating and increased their target price for the company from $20.00 to $24.00 in a report on Wednesday, May 15th. Finally, Bank of America downgraded Owens-Illinois from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $18.89.
The stock’s fifty day moving average price is $15.72. The company has a debt-to-equity ratio of 5.72, a quick ratio of 1.00 and a current ratio of 1.53. The stock has a market capitalization of $1.76 billion, a P/E ratio of 3.92, a P/E/G ratio of 1.41 and a beta of 1.41.
Owens-Illinois (NYSE:OI) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.69 earnings per share 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 the consensus estimate of $1.76 billion. During the same period in the prior year, the company posted $0.77 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. On average, research analysts forecast that Owens-Illinois Inc will post 2.45 EPS for the current fiscal year.
The company also recently announced 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. This represents a $0.20 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, August 29th. Owens-Illinois’s dividend payout ratio is 7.35%.
In related news, Director Carol A. Williams acquired 10,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $12.21 per share, with a total value of $122,100.00. Following the completion of the purchase, the director now directly owns 60,761 shares of the company’s stock, valued at $741,891.81. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Moors & Cabot Inc. raised its stake in Owens-Illinois by 6.6% during the 1st quarter. Moors & Cabot Inc. now owns 12,150 shares of the industrial products company’s stock valued at $230,000 after purchasing an additional 750 shares during the period. Eagle Asset Management Inc. raised its stake in Owens-Illinois by 5.1% during the 1st quarter. Eagle Asset Management Inc. now owns 17,423 shares of the industrial products company’s stock valued at $330,000 after purchasing an additional 846 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Owens-Illinois by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 63,860 shares of the industrial products company’s stock valued at $1,103,000 after purchasing an additional 878 shares during the period. Oppenheimer Asset Management Inc. raised its stake in Owens-Illinois by 15.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 6,560 shares of the industrial products company’s stock valued at $113,000 after purchasing an additional 879 shares during the period. Finally, Alpha Omega Wealth Management LLC raised its stake in Owens-Illinois by 59.3% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 2,637 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 982 shares during the period. 91.17% of the stock is currently owned by hedge funds and other institutional investors.
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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