Barclays PLC raised its holdings in O-I Glass, Inc. (NYSE:OI - Free Report) by 349.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 261,161 shares of the industrial products company's stock after purchasing an additional 203,037 shares during the period. Barclays PLC owned about 0.17% of O-I Glass worth $3,427,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new stake in O-I Glass in the third quarter valued at about $27,000. Newbridge Financial Services Group Inc. increased its holdings in shares of O-I Glass by 1,337.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 2,675 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of O-I Glass by 371.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 1,892 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in O-I Glass by 28.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company's stock worth $67,000 after purchasing an additional 1,136 shares during the last quarter. Finally, KBC Group NV boosted its holdings in O-I Glass by 38.9% in the third quarter. KBC Group NV now owns 5,431 shares of the industrial products company's stock worth $71,000 after purchasing an additional 1,521 shares during the period. 97.24% of the stock is currently owned by hedge funds and other institutional investors.
O-I Glass Price Performance
Shares of OI traded up $0.06 during mid-day trading on Tuesday, hitting $10.20. The company's stock had a trading volume of 1,320,633 shares, compared to its average volume of 1,659,549. O-I Glass, Inc. has a fifty-two week low of $9.85 and a fifty-two week high of $17.58. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -3.70 and a beta of 1.20. The firm has a 50-day moving average price of $12.15 and a 200 day moving average price of $12.05. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.77.
O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the firm posted $0.80 EPS. The company's quarterly revenue was down 3.7% compared to the same quarter last year. On average, research analysts predict that O-I Glass, Inc. will post 0.76 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the stock. Bank of America raised shares of O-I Glass from a "neutral" rating to a "buy" rating and increased their target price for the stock from $14.00 to $16.00 in a report on Thursday, October 17th. Citigroup lifted their target price on O-I Glass from $14.00 to $15.00 and gave the company a "neutral" rating in a research note on Wednesday, October 2nd. StockNews.com upgraded O-I Glass from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Barclays cut their price target on O-I Glass from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Finally, Royal Bank of Canada dropped their target price on O-I Glass from $18.00 to $16.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, O-I Glass has an average rating of "Moderate Buy" and a consensus price target of $16.25.
Check Out Our Latest Stock Analysis on OI
About O-I Glass
(
Free Report)
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.
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