Meridian Investment Counsel Inc. Has $857,000 Stock Holdings in O-I Glass, Inc. (NYSE:OI)

Meridian Investment Counsel Inc. decreased its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 40.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 79,050 shares of the industrial products company's stock after selling 53,067 shares during the period. Meridian Investment Counsel Inc. owned about 0.05% of O-I Glass worth $857,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Highland Peak Capital LLC lifted its stake in O-I Glass by 87.5% in the 4th quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company's stock worth $42,029,000 after acquiring an additional 1,809,237 shares in the last quarter. Segall Bryant & Hamill LLC increased its holdings in shares of O-I Glass by 31.5% in the 4th quarter. Segall Bryant & Hamill LLC now owns 3,242,750 shares of the industrial products company's stock valued at $35,151,000 after purchasing an additional 777,036 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of O-I Glass by 111.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,401,400 shares of the industrial products company's stock worth $15,191,000 after purchasing an additional 737,123 shares in the last quarter. IPG Investment Advisors LLC boosted its holdings in shares of O-I Glass by 33.5% during the fourth quarter. IPG Investment Advisors LLC now owns 1,840,668 shares of the industrial products company's stock worth $19,953,000 after purchasing an additional 462,040 shares during the period. Finally, Portolan Capital Management LLC purchased a new position in O-I Glass during the third quarter valued at approximately $4,634,000. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on OI shares. Bank of America lifted their target price 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 reissued an "outperform" rating and set a $16.00 price objective on shares of O-I Glass in a research report on Monday, March 17th. Citigroup dropped their target price on 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. Finally, Wells Fargo & Company cut their price target on O-I Glass from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, O-I Glass currently has an average rating of "Moderate Buy" and an average target price of $15.38.

O-I Glass Stock Down 8.3 %

Shares of OI traded down $0.94 during trading hours on Friday, hitting $10.28. 998,085 shares of the company were exchanged, compared to its average volume of 1,589,617. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. The company has a market cap of $1.58 billion, a PE ratio of -14.46, a PEG ratio of 0.24 and a beta of 0.98. The firm's 50 day moving average is $11.61 and its 200-day moving average is $11.83. O-I Glass, Inc. has a 52 week low of $9.85 and a 52 week high of $17.29.

O-I Glass (NYSE:OI - Get Free Report) last announced its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts forecast that O-I Glass, Inc. will post 1.33 EPS for the current fiscal 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.