CrestPoint Capital Management LLC Raises Holdings in Owens-Illinois Inc (OI)

CrestPoint Capital Management LLC raised its position in Owens-Illinois Inc (NYSE:OI) by 56.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,000 shares of the industrial products company’s stock after buying an additional 10,500 shares during the quarter. CrestPoint Capital Management LLC’s holdings in Owens-Illinois were worth $643,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its stake in Owens-Illinois by 4.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 802,007 shares of the industrial products company’s stock valued at $20,179,000 after buying an additional 36,810 shares during the last quarter. FMR LLC lifted its stake in Owens-Illinois by 37.4% in the second quarter. FMR LLC now owns 1,446,740 shares of the industrial products company’s stock valued at $34,606,000 after buying an additional 393,560 shares during the last quarter. Mckinley Capital Management LLC Delaware purchased a new stake in Owens-Illinois in the third quarter valued at approximately $2,827,000. Westover Capital Advisors LLC purchased a new stake in Owens-Illinois in the second quarter valued at approximately $628,000. Finally, Alliancebernstein L.P. lifted its stake in Owens-Illinois by 9.6% in the second quarter. Alliancebernstein L.P. now owns 109,724 shares of the industrial products company’s stock valued at $2,625,000 after buying an additional 9,650 shares during the last quarter. Institutional investors own 93.59% of the company’s stock.

Shares of Owens-Illinois Inc (NYSE:OI) traded up $0.27 during mid-day trading on Wednesday, reaching $22.71. The company had a trading volume of 2,297,400 shares, compared to its average volume of 1,493,640. Owens-Illinois Inc has a 52-week low of $18.39 and a 52-week high of $25.90. The firm has a market capitalization of $3,700.00, a price-to-earnings ratio of 15.24, a PEG ratio of 1.15 and a beta of 1.53. The company has a debt-to-equity ratio of 5.73, a current ratio of 1.23 and a quick ratio of 0.74.

Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Monday, October 23rd. The industrial products company reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.04. Owens-Illinois had a return on equity of 63.33% and a net margin of 3.59%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. Owens-Illinois’s quarterly revenue was up 5.1% on a year-over-year basis. equities research analysts anticipate that Owens-Illinois Inc will post 2.64 earnings per share for the current year.

A number of research analysts have recently issued reports on the company. ValuEngine raised Owens-Illinois from a “buy” rating to a “strong-buy” rating in a report on Friday, October 13th. Zacks Investment Research lowered Owens-Illinois from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Robert W. Baird boosted their target price on Owens-Illinois from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Bank of America boosted their target price on Owens-Illinois from $29.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Finally, KeyCorp reissued a “hold” rating on shares of Owens-Illinois in a report on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $26.36.

In other Owens-Illinois news, insider Timothy M. Connors sold 3,500 shares of the company’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 sale, the insider now owns 19,624 shares of the company’s stock, valued at $468,228.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

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Owens-Illinois Profile

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.

Institutional Ownership by Quarter for Owens-Illinois (NYSE:OI)

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