Atlantic Investment Management boosts stakes in Owens-Illinois

Atlantic Investment Management has increased its stake in Owens-Illinois, moving from almost 6.68 million shares to 8.80 million (5.30%) of the company. O-I’s shares gained approximately 16.00% in the past 12 months, and are currently quoted at around USD 33.30 per share.

Atlantic Investment Management has upped its activist stake in Owens-Illinois Inc. (O-I). The stake amounts to 8.80 million shares (5.30%) of the company, up from the earlier position of nearly 6.68 million.
O-I’s shares gained approximately 16.00% in the past 12 months, currently quoted at around USD 33.30 per share. Last year, the company generated net income of USD 202.00 million (USD 1.23 per share), compared to the income of USD 186.00 million (USD 1.13 per share) produced in 2012. Estimating the company to deliver earnings of USD 2.97 in 2014, market experts provide a target price of USD 38.36 per share for its shares.
First Pacific Advisors Llc owns more than 6.15 million shares of Owens-Illinois Inc. Baker Hughes Incorporated, a company operating in the oilfield services industry, represents the largest share (around 20.00%) in Atlantic Investment Management’s equity portfolio. The fund owns more than 4.76 million shares of the company, currently valuing around USD 333.00 million.