Freestone Grove Partners LP Acquires New Shares in Owens & Minor, Inc. (NYSE:OMI)

Freestone Grove Partners LP purchased a new stake in shares of Owens & Minor, Inc. (NYSE:OMI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 392,115 shares of the company's stock, valued at approximately $5,125,000. Freestone Grove Partners LP owned 0.51% of Owens & Minor as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Inspire Advisors LLC boosted its stake in Owens & Minor by 11.2% during the 4th quarter. Inspire Advisors LLC now owns 15,350 shares of the company's stock worth $201,000 after purchasing an additional 1,548 shares during the last quarter. Blue Trust Inc. raised its holdings 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 acquiring an additional 1,600 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Owens & Minor by 758.3% during the 4th quarter. Sterling Capital Management LLC now owns 2,060 shares of the company's stock worth $27,000 after purchasing an additional 1,820 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Owens & Minor by 0.9% in the fourth quarter. Legal & General Group Plc now owns 212,061 shares of the company's stock valued at $2,772,000 after purchasing an additional 1,991 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Owens & Minor by 11.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 20,259 shares of the company's stock worth $265,000 after buying an additional 2,112 shares in the last quarter. Institutional investors and hedge funds own 98.04% of the company's stock.

Insiders Place Their Bets

In other Owens & Minor news, major shareholder Coliseum Capital Management, L bought 354,901 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $9.19 per share, for a total transaction of $3,261,540.19. Following the completion of the purchase, the insider now owns 9,824,599 shares of the company's stock, valued at approximately $90,288,064.81. This represents a 3.75 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have bought 2,718,412 shares of company stock valued at $24,495,308. 3.69% of the stock is currently owned by insiders.

Owens & Minor Trading Down 9.0 %

Shares of OMI traded down $0.70 during midday trading on Thursday, hitting $7.07. 634,402 shares of the stock were exchanged, compared to its average volume of 1,111,120. The stock has a fifty day simple moving average of $8.23 and a 200 day simple moving average of $10.90. Owens & Minor, Inc. has a 52-week low of $6.07 and a 52-week high of $21.02. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.45 and a current ratio of 1.09. The firm has a market cap of $545.81 million, a P/E ratio of -10.97, a P/E/G ratio of 0.20 and a beta of 1.38.

Owens & Minor (NYSE:OMI - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.03. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. During the same quarter in the prior year, the company earned $0.19 earnings per share. The company's revenue was up .7% on a year-over-year basis. On average, research analysts anticipate that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

Owens & Minor declared that its Board of Directors has authorized a stock repurchase plan on Friday, February 28th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 13.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

OMI has been the subject of a number of recent research reports. UBS Group cut their target price 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. Robert W. Baird lifted their target price on shares of Owens & Minor from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. cut their price target on shares of Owens & Minor from $14.00 to $10.00 and set an "underweight" rating for the company in a report on Monday, March 10th. Finally, Citigroup lowered their price objective on Owens & Minor from $13.00 to $11.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $12.50.

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.