Arrowstreet Capital Limited Partnership Has $2.14 Million Holdings in O-I Glass, Inc. (NYSE:OI)

Arrowstreet Capital Limited Partnership raised its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 253.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 197,220 shares of the industrial products company's stock after buying an additional 141,474 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.13% of O-I Glass worth $2,138,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OI. R Squared Ltd acquired a new stake in shares of O-I Glass in the 4th quarter valued at approximately $45,000. KBC Group NV lifted its position in shares of O-I Glass by 42.5% in the fourth quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock worth $84,000 after purchasing an additional 2,309 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in O-I Glass during the 4th quarter worth about $86,000. XTX Topco Ltd acquired a new position in O-I Glass during the third quarter valued at approximately $148,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of O-I Glass by 277.1% in the 4th quarter. Jones Financial Companies Lllp now owns 14,982 shares of the industrial products company's stock valued at $162,000 after buying an additional 11,009 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

O-I Glass Price Performance

Shares of NYSE OI traded down $0.05 during mid-day trading on Wednesday, hitting $10.75. 51,201 shares of the stock traded hands, compared to its average volume of 1,605,513. O-I Glass, Inc. has a twelve month low of $9.23 and a twelve month high of $15.72. The firm has a 50 day simple moving average of $11.36 and a two-hundred day simple moving average of $11.65. The company has a debt-to-equity ratio of 3.78, a current ratio of 1.15 and a quick ratio of 0.70. The company has a market cap of $1.66 billion, a PE ratio of -15.13, a price-to-earnings-growth ratio of 0.24 and a beta of 0.98.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate 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%. As a group, equities research analysts forecast that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on OI shares. Royal Bank of Canada reiterated an "outperform" rating and set a $16.00 price target on shares of O-I Glass in a report on Monday, March 17th. Bank of America upped their price target on shares of O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Citigroup lowered their price objective on O-I Glass from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Finally, Wells Fargo & Company decreased their target price on shares of O-I Glass from $18.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus 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.