Atlantic Investment Management is Buying Owens-Illinois Inc. (NYSE:OI) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Owens-Illinois Inc. (NYSE:OI) reported that Atlantic Investment Management has picked up 9,658,536 of common stock as of 2017-03-14.

The acquisition brings the aggregate amount owned by Atlantic Investment Management to a total of 9,658,536 representing a 5.9% stake in the company.

For those not familiar with the company, Owens-Illinois, Inc. is a manufacturer of glass container products. The Company’s principal product lines are glass containers for the food and beverage industries. The Company’s segments include Europe, North America, Latin America and Asia Pacific. The Company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine. The Company also produces glass packaging for a range of food items, soft drinks, teas, juices and pharmaceuticals. The Company manufactures glass containers in a range of sizes, shapes and colors. The Company also provides engineering support for its glass manufacturing operations through facilities located in the United States, Australia, France, Poland, Colombia and Peru. As of December 31, 2016, the Company had 79 glass manufacturing plants in 23 countries. The Company has a distribution facility used to import glass containers from its business in Mexico.

A glance at Owens-Illinois Inc. (NYSE:OI)’s key stats reveals a current market capitalization of 3.16 Billion based on 162.35 Million shares outstanding and a price at last close of $19.46 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-06-15, Hardie picked up 3,400 at a purchase price of $18.65. This brings their total holding to 12,699 as of the date of the filing.

On the sell side, the most recent transaction saw Baehren unload 11,137 shares at a sale price of $19.49. This brings their total holding to 62,760.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Owens-Illinois Inc. (NYSE:OI) as things move forward to see if its progress aligns with these transactions.

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