Owens-Illinois Inc (NYSE:OI) Short Interest Update

Owens-Illinois Inc (NYSE:OI) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 6,290,000 shares, an increase of 10.5% from the August 15th total of 5,690,000 shares. Approximately 4.1% of the shares of the company are short sold. Based on an average daily trading volume, of 1,860,000 shares, the short-interest ratio is presently 3.4 days.

NYSE:OI traded up $0.39 during midday trading on Friday, reaching $9.60. The stock had a trading volume of 1,738,731 shares, compared to its average volume of 2,277,969. 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 has a 1-year low of $8.91 and a 1-year high of $20.78. The firm’s fifty day simple moving average is $9.98 and its 200-day simple moving average is $15.15. The stock has a market capitalization of $1.43 billion, a P/E ratio of 3.53, a PEG ratio of 1.18 and a beta of 1.52.

Owens-Illinois (NYSE:OI) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.07). The business had revenue of $1.80 billion for 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%. Owens-Illinois’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 earnings per share. On average, equities research analysts anticipate that Owens-Illinois will post 2.33 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Thursday, August 29th. Owens-Illinois’s payout ratio is 7.35%.

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

A number of hedge funds have recently made changes to their positions in the stock. Fruth Investment Management lifted its holdings in Owens-Illinois by 4.7% during the 3rd quarter. Fruth Investment Management now owns 62,150 shares of the industrial products company’s stock valued at $638,000 after purchasing an additional 2,800 shares during the last quarter. State of Alaska Department of Revenue increased its position in Owens-Illinois by 57.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 27,669 shares of the industrial products company’s stock valued at $284,000 after acquiring an additional 10,079 shares in the last quarter. Atria Investments LLC increased its position in Owens-Illinois by 192.4% in the 2nd quarter. Atria Investments LLC now owns 49,294 shares of the industrial products company’s stock valued at $3,953,000 after acquiring an additional 32,434 shares in the last quarter. BlackRock Inc. increased its position in Owens-Illinois by 4.2% in the 2nd 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 in the last quarter. Finally, Magnetar Financial LLC increased its position in Owens-Illinois by 9.4% in the 2nd quarter. Magnetar Financial LLC now owns 36,625 shares of the industrial products company’s stock valued at $633,000 after acquiring an additional 3,142 shares in the last quarter. 91.62% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on the stock. Credit Suisse Group decreased their price objective on shares of Owens-Illinois from $24.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Goldman Sachs Group upgraded shares of Owens-Illinois from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $17.00 to $13.00 in a report on Monday, August 5th. ValuEngine raised shares of Owens-Illinois from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Bank of America lowered shares of Owens-Illinois from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Finally, KeyCorp reduced their price target on shares of Owens-Illinois from $16.00 to $11.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $17.00.

About Owens-Illinois

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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