Riverhead Capital Management LLC grew its position in Owens-Illinois (NYSE:OI) by 376.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,233 shares of the industrial products company’s stock after buying an additional 81,550 shares during the quarter. Riverhead Capital Management LLC owned 0.06% of Owens-Illinois worth $2,236,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in OI. Advisors Preferred LLC increased its position in shares of Owens-Illinois by 366.7% in the fourth quarter. Advisors Preferred LLC now owns 5,498 shares of the industrial products company’s stock valued at $122,000 after buying an additional 4,320 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Owens-Illinois in the fourth quarter valued at $188,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Owens-Illinois by 43.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,889 shares of the industrial products company’s stock valued at $197,000 after buying an additional 2,702 shares in the last quarter. Hourglass Capital LLC purchased a new position in shares of Owens-Illinois in the first quarter valued at $210,000. Finally, Eagle Asset Management Inc. purchased a new position in shares of Owens-Illinois in the fourth quarter valued at $221,000. Institutional investors and hedge funds own 95.42% of the company’s stock.
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OI opened at $18.63 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.82 and a debt-to-equity ratio of 5.04. The firm has a market cap of $3.00 billion, a P/E ratio of 6.97, a P/E/G ratio of 1.15 and a beta of 1.42. Owens-Illinois has a 52 week low of $17.95 and a 52 week high of $25.90.
Owens-Illinois (NYSE:OI) last posted its quarterly earnings data on Monday, April 23rd. The industrial products company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. Owens-Illinois had a return on equity of 46.76% and a net margin of 3.30%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the company earned $0.58 earnings per share. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. equities analysts predict that Owens-Illinois will post 2.8 earnings per share for the current fiscal year.
Owens-Illinois announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 6th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
In other Owens-Illinois news, SVP Moyano Giancarlo Currarino sold 11,910 shares of the firm’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $22.57, for a total value of $268,808.70. Following the sale, the senior vice president now directly owns 28,070 shares of the company’s stock, valued at approximately $633,539.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.70% of the stock is currently owned by company insiders.
OI has been the subject of a number of research analyst reports. TheStreet upgraded Owens-Illinois from a “c” rating to a “b-” rating in a research report on Monday, April 23rd. Vertical Research raised Owens-Illinois to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday, February 7th. ValuEngine raised Owens-Illinois from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research raised Owens-Illinois from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Thursday, April 19th. Finally, Deutsche Bank raised Owens-Illinois from a “hold” rating to a “buy” rating and increased their price objective for the company from $19.45 to $25.90 in a research note on Thursday, April 26th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $25.54.
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.