Orbis Allan Gray Ltd Lowers stake in Owens-Illinois Inc (OI)

Owens-Illinois Inc (OI) : Orbis Allan Gray Ltd reduced its stake in Owens-Illinois Inc by 2.87% during the most recent quarter end. The investment management company now holds a total of 7,376,609 shares of Owens-Illinois Inc which is valued at $136,614,799 after selling 217,590 shares in Owens-Illinois Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Owens-Illinois Inc makes up approximately 0.95% of Orbis Allan Gray Ltd’s portfolio.

Other Hedge Funds, Including , Jacobs Levy Equity Management Inc sold out all of its stake in OI during the most recent quarter. The investment firm sold 256,890 shares of OI which is valued $4,757,603.Loomis Sayles Co L P reduced its stake in OI by selling 3,274 shares or 0.23% in the most recent quarter. The Hedge Fund company now holds 1,414,339 shares of OI which is valued at $26,193,558. Owens-Illinois Inc makes up approx 0.07% of Loomis Sayles Co L P’s portfolio. Mizuho Asset Managementltd. sold out all of its stake in OI during the most recent quarter. The investment firm sold 1,608 shares of OI which is valued $29,780.Moors Cabot boosted its stake in OI in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 26,300 shares of Owens-Illinois Inc which is valued at $496,544. Owens-Illinois Inc makes up approx 0.08% of Moors Cabot’s portfolio.

Owens-Illinois Inc closed down -0.15 points or -0.84% at $17.78 with 11,10,922 shares getting traded on Thursday. Post opening the session at $17.95, the shares hit an intraday low of $17.56 and an intraday high of $18 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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