O-I Glass, Inc. (NYSE:OI) Shares Acquired by Hourglass Capital LLC

Hourglass Capital LLC raised its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 105.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 167,450 shares of the industrial products company's stock after purchasing an additional 86,015 shares during the quarter. Hourglass Capital LLC owned 0.11% of O-I Glass worth $1,815,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of OI. Harbor Capital Advisors Inc. acquired a new stake in shares of O-I Glass in the third quarter valued at approximately $27,000. GAMMA Investing LLC increased its holdings in shares of O-I Glass by 371.0% during the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company's stock worth $32,000 after buying an additional 1,892 shares in the last quarter. R Squared Ltd acquired a new position in shares of O-I Glass during the fourth quarter worth $45,000. Nisa Investment Advisors LLC increased its holdings in shares of O-I Glass by 28.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company's stock worth $67,000 after buying an additional 1,136 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of O-I Glass by 38.9% in the third quarter. KBC Group NV now owns 5,431 shares of the industrial products company's stock worth $71,000 after purchasing an additional 1,521 shares during the last quarter. Institutional investors and hedge funds own 97.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on OI shares. Citigroup cut their price target on shares of O-I Glass from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. StockNews.com upgraded shares of O-I Glass from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Bank of America increased their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Royal Bank of Canada reduced their target price 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. Finally, Barclays reduced their target price 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. Three 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.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $15.38.

O-I Glass Trading Down 3.4 %

Shares of OI stock traded down $0.39 during trading hours on Wednesday, reaching $11.29. 1,587,953 shares of the stock were exchanged, compared to its average volume of 1,435,617. O-I Glass, Inc. has a 12-month low of $9.85 and a 12-month high of $17.58. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78. The company's 50-day moving average price is $10.96 and its 200-day moving average price is $11.95. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -15.90, a price-to-earnings-growth ratio of 0.23 and a beta of 1.22.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, beating 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%. As a group, equities analysts anticipate that O-I Glass, Inc. will post 1.36 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.