Bank of New York Mellon Corp Increases Stock Position in Owens & Minor, Inc. (NYSE:OMI)

Bank of New York Mellon Corp lifted its holdings in Owens & Minor, Inc. (NYSE:OMI - Free Report) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 622,921 shares of the company's stock after buying an additional 35,105 shares during the period. Bank of New York Mellon Corp owned about 0.81% of Owens & Minor worth $8,142,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Principal Financial Group Inc. boosted its stake in shares of Owens & Minor by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 358,907 shares of the company's stock worth $4,691,000 after purchasing an additional 10,152 shares during the period. Blue Trust Inc. boosted its position in Owens & Minor by 57.4% in the 4th quarter. Blue Trust Inc. now owns 4,387 shares of the company's stock valued at $57,000 after buying an additional 1,600 shares during the period. Empowered Funds LLC boosted its position in Owens & Minor by 5.1% in the 4th quarter. Empowered Funds LLC now owns 355,021 shares of the company's stock valued at $4,640,000 after buying an additional 17,255 shares during the period. Advisors Preferred LLC boosted its position in Owens & Minor by 173.9% in the 4th quarter. Advisors Preferred LLC now owns 84,305 shares of the company's stock valued at $1,083,000 after buying an additional 53,529 shares during the period. Finally, Waldron Private Wealth LLC purchased a new stake in Owens & Minor in the 4th quarter valued at about $406,000. 98.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. UBS Group lowered their price objective on shares of Owens & Minor from $25.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Robert W. Baird boosted their price objective on shares of Owens & Minor from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Owens & Minor from $14.00 to $10.00 and set an "underweight" rating for the company in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Owens & Minor has an average rating of "Hold" and an average target price of $13.75.

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Owens & Minor Stock Down 0.5 %

Shares of NYSE:OMI traded down $0.05 during trading hours on Tuesday, hitting $9.83. The company's stock had a trading volume of 1,156,516 shares, compared to its average volume of 950,091. Owens & Minor, Inc. has a 52 week low of $6.07 and a 52 week high of $28.35. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45. The company has a market capitalization of $758.95 million, a price-to-earnings ratio of -15.12, a P/E/G ratio of 0.20 and a beta of 0.61. The firm's fifty day moving average price is $10.79 and its 200 day moving average price is $12.74.

Owens & Minor (NYSE:OMI - Get Free Report) last posted its quarterly earnings results on Friday, February 28th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.68 billion. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The company's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 EPS. As a group, research analysts expect that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Owens & Minor announced that its board has approved a stock repurchase plan on Friday, February 28th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 13.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, major shareholder Coliseum Capital Management, L acquired 354,901 shares of Owens & Minor stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $9.19 per share, for a total transaction of $3,261,540.19. Following the purchase, the insider now directly owns 9,824,599 shares in the company, valued at $90,288,064.81. The trade was a 3.75 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 3.59% of the stock is currently owned by company insiders.

Owens & Minor Company Profile

Owens & Minor, Inc is a healthcare solutions company, which engages in the product manufacturing and delivery, home health supply, and perioperative services to support care through the hospital and into the home. It operates through the Products and Healthcare Services, and Patient Direct segments.