Connor Clark & Lunn Investment Management Ltd. lifted its stake in O-I Glass, Inc. (NYSE:OI - Free Report) by 56.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 155,343 shares of the industrial products company's stock after acquiring an additional 56,113 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.10% of O-I Glass worth $1,684,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Highland Peak Capital LLC grew its position in O-I Glass by 87.5% during the fourth quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company's stock valued at $42,029,000 after buying an additional 1,809,237 shares during the period. Geode Capital Management LLC grew its position in O-I Glass by 1.1% during the third quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company's stock valued at $46,827,000 after buying an additional 37,238 shares during the period. Segall Bryant & Hamill LLC bought a new stake in O-I Glass during the third quarter valued at approximately $32,350,000. Charles Schwab Investment Management Inc. grew its position in O-I Glass by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,848,857 shares of the industrial products company's stock valued at $20,042,000 after buying an additional 25,719 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of O-I Glass by 111.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,401,400 shares of the industrial products company's stock worth $15,191,000 after purchasing an additional 737,123 shares during the period. 97.24% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on OI. Bank of America upped their price target on shares of O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Citigroup dropped their price target on shares of O-I Glass from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Wells Fargo & Company dropped their price target on shares of O-I Glass from $18.00 to $16.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $16.00 price target on shares of O-I Glass in a research report on Monday, March 17th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $15.38.
Check Out Our Latest Stock Analysis on OI
O-I Glass Price Performance
Shares of OI stock traded down $0.28 during mid-day trading on Friday, hitting $11.99. The company had a trading volume of 2,633,614 shares, compared to its average volume of 1,522,670. O-I Glass, Inc. has a 52-week low of $9.85 and a 52-week high of $17.58. The stock's 50 day moving average price is $11.40 and its 200-day moving average price is $11.86. 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 capitalization of $1.85 billion, a P/E ratio of -16.88, a P/E/G ratio of 0.24 and a beta of 1.20.
O-I Glass (NYSE:OI - Get Free Report) last released its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, topping 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%. Equities research analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share for the current year.
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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