Alliancebernstein L.P. Has $24.18 Million Stock Position in O-I Glass, Inc. (NYSE:OI)

Alliancebernstein L.P. trimmed its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 12.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,230,844 shares of the industrial products company's stock after selling 326,503 shares during the period. Alliancebernstein L.P. owned about 1.44% of O-I Glass worth $24,182,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of OI. Edmond DE Rothschild Holding S.A. lifted its position in O-I Glass by 6.7% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,520,015 shares of the industrial products company's stock worth $16,477,000 after acquiring an additional 95,000 shares in the last quarter. IPG Investment Advisors LLC raised its stake in O-I Glass by 33.5% during the fourth quarter. IPG Investment Advisors LLC now owns 1,840,668 shares of the industrial products company's stock valued at $19,953,000 after buying an additional 462,040 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in O-I Glass by 253.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 197,220 shares of the industrial products company's stock worth $2,138,000 after purchasing an additional 141,474 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of O-I Glass in the 4th quarter worth about $86,000. Finally, JPMorgan Chase & Co. grew its position in shares of O-I Glass by 34.5% during the 4th quarter. JPMorgan Chase & Co. now owns 833,620 shares of the industrial products company's stock valued at $9,036,000 after buying an additional 213,977 shares during the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

O-I Glass Trading Up 3.5 %

Shares of OI stock traded up $0.36 during trading hours on Friday, reaching $10.63. 1,338,242 shares of the stock traded hands, compared to its average volume of 1,610,605. The business has a fifty day moving average price of $11.39 and a 200 day moving average price of $11.68. O-I Glass, Inc. has a 1-year low of $9.23 and a 1-year high of $15.91. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. The firm has a market capitalization of $1.64 billion, a PE ratio of -14.97, a PEG ratio of 0.24 and a beta of 0.98.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. On average, equities research analysts forecast that O-I Glass, Inc. will post 1.33 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on OI. Citigroup reduced their target price on shares of O-I Glass from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Royal Bank of Canada reissued an "outperform" rating and issued a $16.00 price objective on shares of O-I Glass in a report on Monday, March 17th. Bank of America lifted their target price on O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company decreased their price target on O-I Glass from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $15.38.

O-I Glass Company Profile

O-I Glass, Inc, through its subsidiaries, engages in the manufacture and sale of glass containers to food and beverage manufacturers primarily in the Americas, Europe, and internationally. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.