Geode Capital Management LLC Sells 36,994 Shares of O-I Glass, Inc. (NYSE:OI)

Geode Capital Management LLC decreased its holdings in O-I Glass, Inc. (NYSE:OI - Free Report) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,531,449 shares of the industrial products company's stock after selling 36,994 shares during the period. Geode Capital Management LLC owned about 2.28% of O-I Glass worth $38,290,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in OI. XTX Topco Ltd acquired a new stake in shares of O-I Glass during the 3rd quarter valued at about $148,000. Barclays PLC lifted its stake in O-I Glass by 349.3% in the third quarter. Barclays PLC now owns 261,161 shares of the industrial products company's stock valued at $3,427,000 after acquiring an additional 203,037 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in O-I Glass in the third quarter worth approximately $263,000. JPMorgan Chase & Co. increased its stake in shares of O-I Glass by 18.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company's stock worth $8,130,000 after purchasing an additional 94,671 shares during the last quarter. Finally, Diversified Trust Co raised its holdings in shares of O-I Glass by 10.0% during the 4th quarter. Diversified Trust Co now owns 54,551 shares of the industrial products company's stock valued at $591,000 after purchasing an additional 4,955 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OI. Wells Fargo & Company reduced their price target on 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. Royal Bank of Canada reissued an "outperform" rating and issued a $16.00 price target on shares of O-I Glass in a research report on Monday, March 17th. Bank of America upped their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Finally, Citigroup decreased 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 report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $15.38.

O-I Glass Trading Up 1.0 %

Shares of OI traded up $0.11 on Friday, reaching $10.93. 876,741 shares of the company's stock were exchanged, compared to its average volume of 1,609,847. The business has a 50 day moving average price of $11.33 and a two-hundred day moving average price of $11.63. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78. O-I Glass, Inc. has a 12 month low of $9.23 and a 12 month high of $15.72. The stock has a market capitalization of $1.69 billion, a P/E ratio of -15.40, 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 earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. Research analysts anticipate that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

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.