Mitsubishi UFJ Trust & Banking Corp Buys 27,295 Shares of Owens & Minor, Inc. (NYSE:OMI)

Mitsubishi UFJ Trust & Banking Corp lifted its stake in Owens & Minor, Inc. (NYSE:OMI) by 9.8% during the fourth quarter, Holdings Channel reports. The fund owned 306,278 shares of the company’s stock after acquiring an additional 27,295 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Owens & Minor were worth $4,003,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Owens & Minor by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 8,915,756 shares of the company’s stock worth $116,529,000 after purchasing an additional 107,092 shares during the last quarter. LPL Financial LLC bought a new stake in shares of Owens & Minor in the fourth quarter valued at approximately $617,000. KLP Kapitalforvaltning AS bought a new stake in shares of Owens & Minor in the fourth quarter valued at approximately $256,000. Sei Investments Co. acquired a new stake in shares of Owens & Minor in the fourth quarter worth $418,000. Finally, Royce & Associates LP increased its position in Owens & Minor by 11.1% during the fourth quarter. Royce & Associates LP now owns 89,922 shares of the company’s stock worth $1,175,000 after acquiring an additional 9,008 shares during the period. 98.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Owens & Minor

In other Owens & Minor news, major shareholder Coliseum Capital Management, L acquired 354,901 shares of Owens & Minor stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $9.19 per share, with a total value of $3,261,540.19. Following the completion of the purchase, the insider now owns 9,824,599 shares in the company, valued at $90,288,064.81. This trade represents a 3.75 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 3.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OMI. Robert W. Baird boosted their price objective on shares of Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. UBS Group lowered their price target on Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their price objective on 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 analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Owens & Minor presently has an average rating of “Hold” and a consensus price target of $13.75.

Owens & Minor Stock Up 5.2 %

Shares of OMI opened at $9.03 on Tuesday. Owens & Minor, Inc. has a 12 month low of $6.07 and a 12 month high of $28.35. The stock has a market cap of $697.15 million, a price-to-earnings ratio of -13.88, a P/E/G ratio of 0.20 and a beta of 0.61. The company has a 50-day moving average price of $9.73 and a two-hundred day moving average price of $12.32. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11.

Owens & Minor (NYSE:OMI) last posted its earnings results on Friday, February 28th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter last year, the company earned $0.69 EPS. Owens & Minor’s revenue was up 1.5% on a year-over-year basis. Equities analysts predict that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

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

About Owens & Minor

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.