KLP Kapitalforvaltning AS Takes Position in O-I Glass, Inc. (NYSE:OI)

KLP Kapitalforvaltning AS acquired a new stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 32,600 shares of the industrial products company's stock, valued at approximately $353,000.

A number of other hedge funds have also recently modified their holdings of OI. Sei Investments Co. grew its stake in shares of O-I Glass by 112.8% in the 4th quarter. Sei Investments Co. now owns 93,174 shares of the industrial products company's stock worth $1,010,000 after buying an additional 49,383 shares during the last quarter. American Century Companies Inc. grew its stake in shares of O-I Glass by 11.9% in the fourth quarter. American Century Companies Inc. now owns 293,814 shares of the industrial products company's stock worth $3,185,000 after acquiring an additional 31,200 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of O-I Glass in the 4th quarter worth about $1,615,000. Corient Private Wealth LLC boosted its stake in O-I Glass by 13.4% in the 4th quarter. Corient Private Wealth LLC now owns 16,544 shares of the industrial products company's stock worth $179,000 after purchasing an additional 1,954 shares in the last quarter. Finally, Natixis Advisors LLC grew its position in O-I Glass by 55.1% during the 4th quarter. Natixis Advisors LLC now owns 25,812 shares of the industrial products company's stock valued at $280,000 after purchasing an additional 9,175 shares during the last quarter. Institutional investors own 97.24% of the company's stock.

O-I Glass Stock Performance

O-I Glass stock traded down $0.39 during trading on Thursday, reaching $10.15. The company had a trading volume of 1,851,709 shares, compared to its average volume of 1,609,807. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -14.29, a price-to-earnings-growth ratio of 0.24 and a beta of 0.98. 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 firm's 50-day simple moving average is $11.42 and its 200 day simple moving average is $11.70. O-I Glass, Inc. has a 52 week low of $9.23 and a 52 week high of $16.16.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates 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%. Sell-side analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on OI shares. Wells Fargo & Company decreased their target price on shares of O-I Glass from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Citigroup decreased their target price on 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. 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 report on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $16.00 target price 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.38.

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.