Owens-Illinois (OI) has been under a strong bear grip, hence the stock is down -5.08% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.1% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.72% in the last 1 week, and is up 1.34% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Owens-Illinois (NYSE:OI): The stock opened at $18.23 on Friday but the bulls could not build on the opening and the stock topped out at $18.34 for the day. The stock traded down to $17.96 during the day, due to lack of any buying support eventually closed down at $18.20 with a loss of -0.66% for the day. The stock had closed at $18.32 on the previous day. The total traded volume was 1,852,066 shares.
The stock has recorded a 20-day Moving Average of 2.7% and the 50-Day Moving Average is 1.6%. Owens-Illinois, Inc. has dropped 0.71% during the last 3-month period . Year-to-Date the stock performance stands at 4.48%.
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.