Clark Estates Incny Lowers stake in Owens-Illinois Inc (OI)

Owens-Illinois Inc (OI) : Clark Estates Incny reduced its stake in Owens-Illinois Inc by 22.18% during the most recent quarter end. The investment management company now holds a total of 1,011,715 shares of Owens-Illinois Inc which is valued at $18,645,907 after selling 288,285 shares in Owens-Illinois Inc , the firm said in a disclosure report filed with the SEC on May 10, 2016.Owens-Illinois Inc makes up approximately 3.72% of Clark Estates Incny’s portfolio.

Other Hedge Funds, Including , Howard Hughes Medical Institute boosted its stake in OI in the latest quarter, The investment management firm added 1,228 additional shares and now holds a total of 29,919 shares of Owens-Illinois Inc which is valued at $551,407. Owens-Illinois Inc makes up approx 0.12% of Howard Hughes Medical Institute’s portfolio.California Public Employees Retirement System boosted its stake in OI in the latest quarter, The investment management firm added 28,400 additional shares and now holds a total of 544,385 shares of Owens-Illinois Inc which is valued at $10,218,106. Owens-Illinois Inc makes up approx 0.02% of California Public Employees Retirement System’s portfolio. Candriam Luxembourg S.c.a. added OI to its portfolio by purchasing 140,759 company shares during the most recent quarter which is valued at $2,598,411. Owens-Illinois Inc makes up approx 0.06% of Candriam Luxembourg S.c.a.’s portfolio.World Asset Management Inc reduced its stake in OI by selling 1,605 shares or 8.73% in the most recent quarter. The Hedge Fund company now holds 16,773 shares of OI which is valued at $309,630. Owens-Illinois Inc makes up approx 0.01% of World Asset Management Inc’s portfolio.

Owens-Illinois Inc opened for trading at $18.57 and hit $18.98 on the upside on Monday, eventually ending the session at $18.77, with a gain of 1.84% or 0.34 points. The heightened volatility saw the trading volume jump to 10,07,870 shares. Company has a market cap of $3,039 M.

On the company’s financial health, Owens-Illinois Inc reported $0.48 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.40. The company had revenue of $1588.00 million for the quarter, compared to analysts expectations of $1536.95 million. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.

Many Wall Street Analysts have commented on Owens-Illinois Inc. Owens-Illinois Inc was Initiated by Goldman to “Sell” on May 12, 2016. Company shares were Upgraded by Citigroup on Apr 6, 2016 to ” Buy”, Firm has raised the Price Target to $ 19 from a previous price target of $15 .

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.

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