diff --git a/InvenTree/stock/models.py b/InvenTree/stock/models.py
index 83e7a0db8d..a3b7383ee8 100644
--- a/InvenTree/stock/models.py
+++ b/InvenTree/stock/models.py
@@ -651,6 +651,48 @@ class StockItem(MPTTModel):
                               help_text=_('Select Owner'),
                               related_name='stock_items')
 
+    def get_item_owner(self):
+        """
+        Return the closest "owner" for this StockItem.
+
+        - If the item has an owner set, return that
+        - If the item is "in stock", check the StockLocation
+        - Otherwise, return None
+        """
+
+        if self.owner is not None:
+            return self.owner
+
+        if self.in_stock and self.location is not None:
+            loc_owner = self.location.get_location_owner()
+
+            if loc_owner:
+                return loc_owner
+
+        return None
+
+    def check_ownership(self, user):
+        """
+        Check if the user "owns" (or is one of the owners of) the item
+        """
+
+        # Superuser accounts automatically "own" everything
+        if user.is_superuser:
+            return True
+
+        ownership_enabled = common.models.InvenTreeSetting.get_setting('STOCK_OWNERSHIP_CONTROL')
+
+        if not ownership_enabled:
+            # Location ownership function is not enabled, so return True
+            return True
+
+        owner = self.get_item_owner()
+
+        if owner is None:
+            return True
+
+        return user in owner.get_related_owners(include_group=True)
+
     def is_stale(self):
         """
         Returns True if this Stock item is "stale".
diff --git a/InvenTree/stock/templates/stock/item.html b/InvenTree/stock/templates/stock/item.html
index f42a768069..113fefb9b1 100644
--- a/InvenTree/stock/templates/stock/item.html
+++ b/InvenTree/stock/templates/stock/item.html
@@ -18,18 +18,11 @@
             <h4>{% trans "Stock Tracking Information" %}</h4>
             {% include "spacer.html" %}
             <div class='btn-group' role='group'>
-                {% setting_object 'STOCK_OWNERSHIP_CONTROL' as owner_control %}
-                {% if owner_control.value == "True" %}
-                    {% authorized_owners item.owner as owners %}
-                {% endif %}
-                <!-- Check permissions and owner -->
-                {% if owner_control.value == "False" or owner_control.value == "True" and user in owners %}
-                {% if roles.stock.change and not item.is_building %}
+                {% if user_owns_item and roles.stock.change and not item.is_building %}
                 <button class='btn btn-success' type='button' title='New tracking entry' id='new-entry'>
                     <span class='fas fa-plus-circle'></span> {% trans "New Entry" %}
                 </button>
                 {% endif %}
-                {% endif %}
             </div>
         </div>
     </div>
diff --git a/InvenTree/stock/templates/stock/item_base.html b/InvenTree/stock/templates/stock/item_base.html
index 9979468357..c52d101afb 100644
--- a/InvenTree/stock/templates/stock/item_base.html
+++ b/InvenTree/stock/templates/stock/item_base.html
@@ -59,14 +59,7 @@
     </ul>
 </div>
 <!-- Stock adjustment menu -->
-<!-- Check permissions and owner -->
-
-{% setting_object 'STOCK_OWNERSHIP_CONTROL' as owner_control %}
-{% if owner_control.value == "True" %}
-    {% authorized_owners item.owner as owners %}
-{% endif %}
-
-{% if owner_control.value == "False" or owner_control.value == "True" and user in owners or user.is_superuser %}
+{% if user_owns_item %}
     {% if roles.stock.change and not item.is_building %}
     <div class='btn-group'>
         <button id='stock-actions' title='{% trans "Stock adjustment actions" %}' class='btn btn-outline-secondary dropdown-toggle' type='button' data-bs-toggle='dropdown'><span class='fas fa-boxes'></span> <span class='caret'></span></button>
@@ -219,24 +212,8 @@
     </tr>
 </table>
 
-{% setting_object 'STOCK_OWNERSHIP_CONTROL' as owner_control %}
-{% if owner_control.value == "True" %}
-    {% authorized_owners item.owner as owners %}
-{% endif %}
-
 <div class='info-messages'>
 
-    {% setting_object 'STOCK_OWNERSHIP_CONTROL' as owner_control %}
-    {% if owner_control.value == "True" %}
-        {% authorized_owners item.owner as owners %}
-
-        {% if not user in owners and not user.is_superuser %}
-        <div class='alert alert-block alert-info'>
-            {% trans "You are not in the list of owners of this item. This stock item cannot be edited." %}<br>
-        </div>
-        {% endif %}
-    {% endif %}
-
     {% if item.is_building %}
     <div class='alert alert-block alert-info'>
         {% trans "This stock item is in production and cannot be edited." %}<br>
@@ -419,11 +396,18 @@
         </td>
     </tr>
     {% endif %}
-    {% if item.owner %}
+    {% if ownership_enabled and item_owner %}
     <tr>
         <td><span class='fas fa-users'></span></td>
         <td>{% trans "Owner" %}</td>
-        <td>{{ item.owner }}</td>
+        <td>
+            {{ item_owner }}
+            {% if not user_owns_item %}
+            <span class='badge rounded-pill bg-warning badge-right' title='{% trans "You are not in the list of owners of this item. This stock item cannot be edited." %}'>
+                {% trans "Read only" %}
+            </span>
+            {% endif %}
+        </td>
     </tr>
     {% endif %}
 </table>
diff --git a/InvenTree/stock/templates/stock/location.html b/InvenTree/stock/templates/stock/location.html
index 68a4cd7aed..4c98db529b 100644
--- a/InvenTree/stock/templates/stock/location.html
+++ b/InvenTree/stock/templates/stock/location.html
@@ -113,7 +113,7 @@
             {{ location_owner }}
             {% if not user_owns_location %}
             <span class='badge rounded-pill bg-warning badge-right' title='{% trans "You are not in the list of owners of this location. This stock location cannot be edited." %}'>
-                {% trans "Read Only" %}
+                {% trans "Read only" %}
             </span>
             {% endif %}
         </td>
diff --git a/InvenTree/stock/views.py b/InvenTree/stock/views.py
index f9b7dfb6d0..d263a498de 100644
--- a/InvenTree/stock/views.py
+++ b/InvenTree/stock/views.py
@@ -141,6 +141,10 @@ class StockItemDetail(InvenTreeRoleMixin, DetailView):
                 # We only support integer serial number progression
                 pass
 
+        data['ownership_enabled'] = common.models.InvenTreeSetting.get_setting('STOCK_OWNERSHIP_CONTROL')
+        data['item_owner'] = self.object.get_item_owner()
+        data['user_owns_item'] = self.object.check_ownership(self.request.user)
+
         return data
 
     def get(self, request, *args, **kwargs):