Atlantic Investment Management Lowers stake in Owens-Illinois Inc (OI)

Owens-Illinois Inc (OI) : Atlantic Investment Management reduced its stake in Owens-Illinois Inc by 4.96% during the most recent quarter end. The investment management company now holds a total of 9,844,988 shares of Owens-Illinois Inc which is valued at $184,691,975 after selling 513,647 shares in Owens-Illinois Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Owens-Illinois Inc makes up approximately 22.18% of Atlantic Investment Management’s portfolio.

Other Hedge Funds, Including , Manufacturers Life Insurance Company The boosted its stake in OI in the latest quarter, The investment management firm added 15,330 additional shares and now holds a total of 162,451 shares of Owens-Illinois Inc which is valued at $3,042,707.Pacer Advisors boosted its stake in OI in the latest quarter, The investment management firm added 1,356 additional shares and now holds a total of 16,087 shares of Owens-Illinois Inc which is valued at $304,527. Owens-Illinois Inc makes up approx 0.05% of Pacer Advisors’s portfolio.Citadel Advisors reduced its stake in OI by selling 1,105,303 shares or 73.72% in the most recent quarter. The Hedge Fund company now holds 394,072 shares of OI which is valued at $7,459,783. Owens-Illinois Inc makes up approx 0.02% of Citadel Advisors’s portfolio.

Owens-Illinois Inc closed down -0.44 points or -2.34% at $18.37 with 19,80,050 shares getting traded on Monday. Post opening the session at $18.77, the shares hit an intraday low of $18.28 and an intraday high of $18.83 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Owens-Illinois Inc reported $0.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Oct 25, 2016. Analyst had a consensus of $0.66. The company had revenue of $1712.00 million for the quarter, compared to analysts expectations of $1729.66 million. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS.

Many Wall Street Analysts have commented on Owens-Illinois Inc. RBC Capital Mkts Initiated Owens-Illinois Inc on Sep 30, 2016 to “Sector Perform”, Price Target of the shares are set at $18.

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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