Mork Capital Management buys $1.4 Million stake in Owens-Illinois Inc (OI)

Owens-Illinois Inc (OI) : Mork Capital Management scooped up 28,000 additional shares in Owens-Illinois Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 78,000 shares of Owens-Illinois Inc which is valued at $1.4 Million.Owens-Illinois Inc makes up approximately 1.54% of Mork Capital Management’s portfolio.

Other Hedge Funds, Including , Bridgewater Associates Lp sold out all of its stake in OI during the most recent quarter. The investment firm sold 10,503 shares of OI which is valued $193,570. Keybank National Associationoh sold out all of its stake in OI during the most recent quarter. The investment firm sold 14,371 shares of OI which is valued $264,858. Spot Trading L.l.c added OI to its portfolio by purchasing 100,078 company shares during the most recent quarter which is valued at $1.8 Million. Owens-Illinois Inc makes up approx 0.24% of Spot Trading L.l.c’s portfolio. Princeton Alpha Management Lp sold out all of its stake in OI during the most recent quarter. The investment firm sold 21,004 shares of OI which is valued $394,245. Oxbow Advisors sold out all of its stake in OI during the most recent quarter. The investment firm sold 11,110 shares of OI which is valued $208,535.

Owens-Illinois Inc opened for trading at $18.7 and hit $18.975 on the upside on Wednesday, eventually ending the session at $18.88, with a gain of 1.40% or 0.26 points. The heightened volatility saw the trading volume jump to 10,21,588 shares. Company has a market cap of $3,057 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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