Securian Asset Management Inc Cuts Holdings in Owens-Illinois Inc (NYSE:OI)

Securian Asset Management Inc trimmed its position in Owens-Illinois Inc (NYSE:OI) by 3.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,715 shares of the industrial products company’s stock after selling 668 shares during the quarter. Securian Asset Management Inc’s holdings in Owens-Illinois were worth $355,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. LSV Asset Management grew its holdings in Owens-Illinois by 1.1% in the fourth quarter. LSV Asset Management now owns 5,033,361 shares of the industrial products company’s stock valued at $86,775,000 after purchasing an additional 54,446 shares during the period. Dimensional Fund Advisors LP lifted its position in Owens-Illinois by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,296,265 shares of the industrial products company’s stock worth $56,828,000 after buying an additional 8,718 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Owens-Illinois by 3.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 3,219,615 shares of the industrial products company’s stock worth $55,506,000 after buying an additional 114,465 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Owens-Illinois by 8.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,905,131 shares of the industrial products company’s stock worth $32,844,000 after buying an additional 152,020 shares in the last quarter. Finally, Boston Partners lifted its position in Owens-Illinois by 6.9% during the fourth quarter. Boston Partners now owns 1,669,776 shares of the industrial products company’s stock worth $28,787,000 after buying an additional 107,961 shares in the last quarter. Hedge funds and other institutional investors own 93.17% of the company’s stock.

A number of brokerages recently commented on OI. ValuEngine downgraded Owens-Illinois from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 18th. Zacks Investment Research downgraded Owens-Illinois from a “hold” rating to a “sell” rating in a research report on Friday, February 1st. BMO Capital Markets reduced their target price on Owens-Illinois to $21.00 and set a “market perform” rating on the stock in a research report on Thursday, February 7th. Wells Fargo & Co upgraded Owens-Illinois from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $20.00 to $24.00 in a research report on Wednesday, May 15th. Finally, TheStreet downgraded Owens-Illinois from a “b” rating to a “c+” rating in a research report on Monday, March 11th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $21.81.

In related news, SVP Moyano Giancarlo Currarino sold 57,560 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $19.68, for a total transaction of $1,132,780.80. Following the completion of the transaction, the senior vice president now directly owns 63,508 shares of the company’s stock, valued at approximately $1,249,837.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Timothy M. Connors sold 44,715 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $19.55, for a total value of $874,178.25. Following the transaction, the insider now directly owns 48,105 shares of the company’s stock, valued at $940,452.75. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Shares of OI stock traded down $0.05 on Wednesday, hitting $16.54. The stock had a trading volume of 1,113,917 shares, compared to its average volume of 1,235,416. The company has a current ratio of 1.39, a quick ratio of 0.83 and a debt-to-equity ratio of 5.76. The company has a market capitalization of $2.61 billion, a PE ratio of 6.08, a P/E/G ratio of 0.84 and a beta of 1.35. Owens-Illinois Inc has a 1 year low of $15.67 and a 1 year high of $20.78.

Owens-Illinois (NYSE:OI) last released its earnings results on Wednesday, May 1st. The industrial products company reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.02). Owens-Illinois had a return on equity of 43.45% and a net margin of 3.53%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. Research analysts predict that Owens-Illinois Inc will post 2.91 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.20 annualized dividend and a yield of 1.21%. Owens-Illinois’s payout ratio is 7.35%.

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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 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.

Further Reading: Moving Average Convergence Divergence (MACD)

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

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