Private Management Group Inc Lowers stake in Owens-Illinois Inc (OI)

Owens-Illinois Inc (OI) : Private Management Group Inc reduced its stake in Owens-Illinois Inc by 0.99% during the most recent quarter end. The investment management company now holds a total of 1,979,898 shares of Owens-Illinois Inc which is valued at $36,667,711 after selling 19,759 shares in Owens-Illinois Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Owens-Illinois Inc makes up approximately 2.35% of Private Management Group Inc’s portfolio.

Other Hedge Funds, Including , State Of Wisconsin Investment Board boosted its stake in OI in the latest quarter, The investment management firm added 31,200 additional shares and now holds a total of 359,454 shares of Owens-Illinois Inc which is valued at $6,657,088. Owens-Illinois Inc makes up approx 0.03% of State Of Wisconsin Investment Board’s portfolio. Trexquant Investment Lp sold out all of its stake in OI during the most recent quarter. The investment firm sold 64,000 shares of OI which is valued $1,185,280.Mutual Of America Capital Management boosted its stake in OI in the latest quarter, The investment management firm added 5,981 additional shares and now holds a total of 18,791 shares of Owens-Illinois Inc which is valued at $349,513. Owens-Illinois Inc makes up approx 0.01% of Mutual Of America Capital Management’s portfolio. Candriam Luxembourg S.c.a. sold out all of its stake in OI during the most recent quarter. The investment firm sold 140,759 shares of OI which is valued $2,688,497.Palo Capital boosted its stake in OI in the latest quarter, The investment management firm added 24,455 additional shares and now holds a total of 55,050 shares of Owens-Illinois Inc which is valued at $1,001,910. Owens-Illinois Inc makes up approx 0.33% of Palo Capital’s portfolio.

Owens-Illinois Inc opened for trading at $18.32 and hit $18.54 on the upside on Tuesday, eventually ending the session at $18.33, with a gain of 0.83% or 0.15 points. The heightened volatility saw the trading volume jump to 14,61,156 shares. Company has a market cap of $2,971 M.

On the company’s financial health, Owens-Illinois Inc reported $0.65 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.63. The company had revenue of $1760.00 million for the quarter, compared to analysts expectations of $1727.12 million. The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS.

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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