Russell Investments Group Ltd. raised its holdings in Owens-Illinois Inc (NYSE:OI) by 11.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,954,361 shares of the industrial products company’s stock after purchasing an additional 202,545 shares during the period. Russell Investments Group Ltd. owned about 1.23% of Owens-Illinois worth $36,728,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Point72 Hong Kong Ltd boosted its stake in shares of Owens-Illinois by 99,050.0% in the second quarter. Point72 Hong Kong Ltd now owns 7,932 shares of the industrial products company’s stock worth $133,000 after acquiring an additional 7,924 shares during the last quarter. Hartford Investment Management Co. acquired a new stake in shares of Owens-Illinois in the second quarter worth approximately $168,000. Fox Run Management L.L.C. acquired a new stake in shares of Owens-Illinois in the second quarter worth approximately $172,000. We Are One Seven LLC acquired a new stake in shares of Owens-Illinois in the third quarter worth approximately $211,000. Finally, Jane Street Group LLC acquired a new stake in shares of Owens-Illinois in the second quarter worth approximately $228,000. 92.84% of the stock is currently owned by institutional investors.
Shares of Owens-Illinois stock opened at $15.67 on Thursday. Owens-Illinois Inc has a one year low of $15.67 and a one year high of $24.66. The company has a market cap of $2.67 billion, a P/E ratio of 5.91, a P/E/G ratio of 0.93 and a beta of 1.40. The company has a current ratio of 1.21, a quick ratio of 0.76 and a debt-to-equity ratio of 5.98.
A number of equities analysts recently commented on the company. Robert W. Baird reduced their price objective on Owens-Illinois from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 25th. Citigroup reduced their price objective on Owens-Illinois from $29.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, July 10th. Bank of America set a $22.00 price objective on Owens-Illinois and gave the stock a “hold” rating in a research report on Wednesday, July 25th. Finally, Zacks Investment Research downgraded Owens-Illinois from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $23.66.
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.
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