Fmr LLC Trims Position in O-I Glass, Inc. (NYSE:OI)

FMR LLC cut its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 20.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,407,161 shares of the industrial products company's stock after selling 2,414,004 shares during the quarter. FMR LLC owned 6.08% of O-I Glass worth $123,422,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Highland Peak Capital LLC acquired a new stake in O-I Glass in the third quarter valued at $27,132,000. Segall Bryant & Hamill LLC acquired a new stake in O-I Glass in the third quarter worth $32,350,000. Allspring Global Investments Holdings LLC increased its position in O-I Glass by 33.9% in 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 buying an additional 43,724 shares in the last quarter. Private Management Group Inc. grew its stake in O-I Glass by 21.3% in the second quarter. Private Management Group Inc. now owns 2,505,279 shares of the industrial products company's stock valued at $27,884,000 after acquiring an additional 439,838 shares during the period. Finally, Markel Group Inc. lifted its stake in shares of O-I Glass by 20.8% in the third quarter. Markel Group Inc. now owns 814,100 shares of the industrial products company's stock valued at $10,681,000 after buying an additional 140,000 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors.

O-I Glass Stock Performance

NYSE OI traded down $0.22 during midday trading on Thursday, hitting $11.91. 919,325 shares of the company traded hands, compared to its average volume of 1,656,491. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. O-I Glass, Inc. has a 52 week low of $10.08 and a 52 week high of $17.58. The company's 50-day simple moving average is $12.67 and its 200-day simple moving average is $12.18.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.08). The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The firm's quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 earnings per share. Equities analysts anticipate that O-I Glass, Inc. will post 0.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Citigroup upped 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. StockNews.com upgraded O-I Glass from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Bank of America raised shares of O-I Glass from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $14.00 to $16.00 in a report on Thursday, October 17th. Barclays decreased their price target on shares of O-I Glass from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 31st. Finally, Royal Bank of Canada reduced their price target 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 analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $16.25.

O-I Glass 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.