Nuveen Asset Management LLC Reduces Stock Holdings in Owens & Minor, Inc. (NYSE:OMI)

Nuveen Asset Management LLC decreased its stake in Owens & Minor, Inc. (NYSE:OMI) by 9.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 258,943 shares of the company’s stock after selling 28,439 shares during the quarter. Nuveen Asset Management LLC owned about 0.34% of Owens & Minor worth $3,384,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of OMI. Coliseum Capital Management LLC boosted its holdings in shares of Owens & Minor by 31.3% in the 4th quarter. Coliseum Capital Management LLC now owns 4,785,964 shares of the company’s stock worth $62,553,000 after purchasing an additional 1,141,483 shares during the period. Freestone Grove Partners LP purchased a new position in shares of Owens & Minor in the 4th quarter worth approximately $5,125,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Owens & Minor by 13.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,305,043 shares of the company’s stock worth $30,127,000 after purchasing an additional 276,807 shares during the period. Deutsche Bank AG boosted its holdings in shares of Owens & Minor by 77.0% in the 4th quarter. Deutsche Bank AG now owns 495,111 shares of the company’s stock worth $6,471,000 after purchasing an additional 215,455 shares during the period. Finally, Norges Bank bought a new stake in shares of Owens & Minor during the 4th quarter worth approximately $2,465,000. Hedge funds and other institutional investors own 98.04% of the company’s stock.

Owens & Minor Trading Up 1.5%

Shares of NYSE OMI opened at $6.60 on Monday. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. The business has a fifty day simple moving average of $7.32 and a two-hundred day simple moving average of $10.14. The firm has a market cap of $509.88 million, a PE ratio of -10.15, a price-to-earnings-growth ratio of 0.20 and a beta of 1.38. Owens & Minor, Inc. has a twelve month low of $6.07 and a twelve month high of $17.78.

Owens & Minor (NYSE:OMI) last released its quarterly earnings results on Saturday, May 10th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the business posted $0.19 earnings per share. Analysts expect that Owens & Minor, Inc. will post 1.51 earnings per share for the current fiscal year.

Owens & Minor announced that its board has authorized a stock buyback plan on Friday, February 28th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 13.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

OMI has been the subject of a number of research analyst reports. Robert W. Baird raised their price target on Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. UBS Group decreased their price target on Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Citigroup decreased their price target on Owens & Minor from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. decreased their price target on Owens & Minor from $14.00 to $10.00 and set an “underweight” rating for the company in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $12.50.

Insider Transactions at Owens & Minor

In other Owens & Minor news, major shareholder Coliseum Capital Management, L bought 225,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 9th. The shares were purchased at an average cost of $7.39 per share, for a total transaction of $1,662,750.00. Following the purchase, the insider now directly owns 11,482,955 shares in the company, valued at $84,859,037.45. This represents a 2.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders purchased 625,000 shares of company stock valued at $4,909,150. Corporate insiders own 3.69% of the company’s stock.

Owens & Minor 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.