Oarsman Capital buys $3.7 Million stake in Owens-Illinois Inc (OI)

Owens-Illinois Inc (OI) : Oarsman Capital scooped up 97,188 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 12, 2016. The investment management firm now holds a total of 201,755 shares of Owens-Illinois Inc which is valued at $3.7 Million.Owens-Illinois Inc makes up approximately 2.01% of Oarsman Capital’s portfolio.

Other Hedge Funds, Including , United Services Automobile Association boosted its stake in OI in the latest quarter, The investment management firm added 129 additional shares and now holds a total of 48,409 shares of Owens-Illinois Inc which is valued at $892,178. Archford Capital Strategies sold out all of its stake in OI during the most recent quarter. The investment firm sold 19 shares of OI which is valued $350. Tfs Capital added OI to its portfolio by purchasing 28,338 company shares during the most recent quarter which is valued at $522,269. Owens-Illinois Inc makes up approx 0.08% of Tfs Capital’s portfolio.Pacad Investment Ltd. reduced its stake in OI by selling 12,729 shares or 28.22% in the most recent quarter. The Hedge Fund company now holds 32,371 shares of OI which is valued at $607,604. Owens-Illinois Inc makes up approx 0.07% of Pacad Investment Ltd.’s portfolio.

Owens-Illinois Inc opened for trading at $18.14 and hit $18.495 on the upside on Friday, eventually ending the session at $18.41, with a gain of 1.99% or 0.36 points. The heightened volatility saw the trading volume jump to 16,93,480 shares. Company has a market cap of $2,980,929 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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