Charles Schwab Investment Management Inc. Acquires 130,422 Shares of O-I Glass, Inc. (NYSE:OI)

Charles Schwab Investment Management Inc. boosted its position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 7.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,823,138 shares of the industrial products company's stock after purchasing an additional 130,422 shares during the period. Charles Schwab Investment Management Inc. owned about 1.18% of O-I Glass worth $23,920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Highland Peak Capital LLC bought a new position in shares of O-I Glass in the third quarter worth about $27,132,000. Segall Bryant & Hamill LLC bought a new stake in O-I Glass during the 3rd quarter worth about $32,350,000. Allspring Global Investments Holdings LLC lifted its position in O-I Glass by 33.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 172,565 shares of the industrial products company's stock valued at $2,264,000 after purchasing an additional 43,724 shares during the period. Private Management Group Inc. lifted its position in O-I Glass by 21.3% during the 2nd quarter. Private Management Group Inc. now owns 2,505,279 shares of the industrial products company's stock valued at $27,884,000 after purchasing an additional 439,838 shares during the period. Finally, Markel Group Inc. grew its position in shares of O-I Glass by 20.8% during the 3rd quarter. Markel Group Inc. now owns 814,100 shares of the industrial products company's stock worth $10,681,000 after buying an additional 140,000 shares during the period. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OI has been the topic of several analyst reports. Citigroup increased their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Bank of America upgraded O-I Glass from a "neutral" rating to a "buy" rating and upped their price objective for the company from $14.00 to $16.00 in a report on Thursday, October 17th. Barclays reduced their target price 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. StockNews.com raised O-I Glass from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada decreased their price objective on shares of O-I Glass from $18.00 to $16.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $16.25.

O-I Glass Stock Down 0.4 %

Shares of NYSE OI traded down $0.05 during midday trading on Friday, reaching $11.85. The company's stock had a trading volume of 693,284 shares, compared to its average volume of 1,651,528. The stock has a 50 day simple moving average of $12.65 and a 200-day simple moving average of $12.18. O-I Glass, Inc. has a fifty-two week low of $10.08 and a fifty-two week high of $17.58. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -4.32 and a beta of 1.20.

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). The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The business's revenue was down 3.7% compared to the same quarter last year. During the same period last year, the company posted $0.80 earnings per share. Equities research analysts predict that O-I Glass, Inc. will post 0.76 earnings per share for the current year.

About O-I Glass

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.