Owens-Illinois (OI) Shares are Down -3.14%

Owens-Illinois (OI) has risen sharply, recording gains of 2.49% in the past 4 weeks. However, the stock has corrected -3.14% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 1.44% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.

The stock has recorded a 20-day Moving Average of 0.37% and the 50-Day Moving Average is 0.01%. Owens-Illinois (NYSE:OI): On Fridays trading session , Opening price of the stock was $18.82 with an intraday high of $18.88. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $18.38. However, the stock managed to close at $18.52, a loss of 1.91% for the day. On the previous day, the stock had closed at $18.88. The total traded volume of the day was 1,154,793 shares.


The company Insiders own 1.4% of Owens-Illinois shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 36.56% . Institutional Investors own 93.16% of Owens-Illinois shares. During last six month period, the net percent change held by insiders has seen a change of 41.49%. Also, Jefferies maintains their rating on the shares of Owens-Illinois (NYSE:OI). The current rating of the shares is Hold. Equity Analysts at the Firm raises the price target to $20 per share from $18 per share. The rating by the firm was issued on July 14, 2016.

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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