Holocene Advisors LP cut its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 50.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 106,290 shares of the industrial products company's stock after selling 106,564 shares during the quarter. Holocene Advisors LP owned 0.07% of O-I Glass worth $1,395,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in OI. Harbor Capital Advisors Inc. acquired a new stake in shares of O-I Glass in the 3rd quarter valued at $27,000. GAMMA Investing LLC raised 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 purchasing an additional 1,892 shares in the last quarter. Newbridge Financial Services Group Inc. raised 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 purchasing an additional 2,675 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of O-I Glass by 28.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company's stock valued at $67,000 after purchasing an additional 1,136 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of O-I Glass by 38.9% in the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company's stock valued at $71,000 after purchasing an additional 1,521 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.
O-I Glass Price Performance
OI stock traded down $0.05 during trading on Friday, reaching $11.85. 693,285 shares of the company were exchanged, compared to its average volume of 1,133,332. The stock's 50 day moving average price is $12.62 and its 200 day moving average price is $12.17. The company has a market cap of $1.83 billion, a P/E ratio of -4.29 and a beta of 1.20. O-I Glass, Inc. has a 52-week low of $10.08 and a 52-week high of $17.58. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23.
O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.08). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the company earned $0.80 earnings per share. The company's revenue was down 3.7% compared to the same quarter last year. As a group, analysts predict that O-I Glass, Inc. will post 0.76 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
OI has been the subject of a number of research reports. StockNews.com raised shares of O-I Glass from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Royal Bank of Canada reduced their price target on shares of O-I Glass from $18.00 to $16.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Citigroup boosted their price target on shares of O-I Glass from $14.00 to $15.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. Barclays reduced their price target on shares of O-I Glass from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Thursday, October 31st. Finally, Bank of America raised shares of O-I Glass from a "neutral" rating to a "buy" rating and boosted their price target for the company from $14.00 to $16.00 in a research report on Thursday, October 17th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $16.25.
Read Our Latest Stock Report on O-I Glass
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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