Owens-Illinois (NYSE:OI) has tumbled 2.78% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 2.61% in the last four weeks. The stocks have underperformed the S&P 500 by 1.61% during the past week but Owens-Illinois (NYSE:OI) it has outperformed the index in 4 weeks by 1.67%.
Owens-Illinois (NYSE:OI): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $18.54 and $18.41 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $19.13. The buying momentum continued till the end and the stock did not give up its gains. It closed at $18.89, notching a gain of 2.16% for the day. The total traded volume was 2,744,569 . The stock had closed at $18.49 on the previous day.
The company shares have dropped -21.68% from its 1 Year high price. On Jun 22, 2015, the shares registered one year high at $24.32 and the one year low was seen on Feb 3, 2016. The 50-Day Moving Average price is $18.94 and the 200 Day Moving Average price is recorded at $16.51.
On the companys insider trading activities, Hardie Gordon, director of Owens Illinois Inc /De/, had purchased 3,400 shares on June 15, 2016. The total value of the transaction was $63,410. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Goldman Sachs assumes the rating on Owens-Illinois (NYSE:OI). The brokerage firm has issued a Sell rating on the shares. The Analysts at the ratings agency announces the price target to $18 per share. The rating by the firm was issued on June 1, 2016. Currently the company Insiders own 1.4% of Owens-Illinois shares according to the proxy statements. Institutional Investors own 94.81% of Owens-Illinois shares. During last six month period, the net percent change held by insiders has seen a change of 9.29%.
Owens-Illinois, Inc. is the manufacturer of glass containers. The Company has approximately 75 glass manufacturing plants in over 21 countries. Its product lines include glass containers for the food and beverage industries. The Company operates in four segments: Europe, North America, South America and Asia Pacific. The Europe segment primarily produces glass containers for beer, wine, champagne, spirits and food markets. The North America segment has glass container manufacturing plants in the United States and Canada. The South America segment primarily produces glass containers for beer, non-alcoholic beverages, spirits, flavored malt beverages, wine, food and pharmaceuticals markets. The Asia Pacific segment primarily produces glass containers for the beer, wine, food and non-alcoholic beverage markets. The Company also produces glass packaging for a variety of food items, soft drinks, teas, juices and pharmaceuticals.