Short Interest in O-I Glass, Inc. (NYSE:OI) Decreases By 19.3%

O-I Glass, Inc. (NYSE:OI - Get Free Report) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 4,610,000 shares, a decrease of 19.3% from the August 15th total of 5,710,000 shares. Approximately 3.0% of the company's stock are sold short. Based on an average daily trading volume, of 1,840,000 shares, the days-to-cover ratio is currently 2.5 days.

Wall Street Analyst Weigh In

OI has been the subject of several research analyst reports. Royal Bank of Canada decreased their price objective on shares of O-I Glass from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Monday, August 5th. StockNews.com raised shares of O-I Glass from a "sell" rating to a "hold" rating in a research report on Thursday, August 1st. UBS Group decreased their price objective on shares of O-I Glass from $26.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, July 17th. Citigroup decreased their price objective on shares of O-I Glass from $14.00 to $12.00 and set a "neutral" rating for the company in a research report on Monday, July 8th. Finally, Wells Fargo & Company decreased their price objective on shares of O-I Glass from $19.00 to $18.00 and set an "overweight" rating for the company in a research report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.25.

O-I Glass Stock Performance

OI traded up $0.77 during trading on Friday, reaching $12.70. 1,415,152 shares of the company's stock were exchanged, compared to its average volume of 1,743,071. O-I Glass has a 1 year low of $10.08 and a 1 year high of $18.70. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.26 and a quick ratio of 0.75. The stock has a market capitalization of $1.98 billion, a P/E ratio of -7.99, a price-to-earnings-growth ratio of 1.72 and a beta of 1.17. The company's fifty day simple moving average is $11.88 and its 200-day simple moving average is $13.23.

O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. The business had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.77 billion. O-I Glass had a negative net margin of 4.32% and a positive return on equity of 15.64%. The business's revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. As a group, research analysts predict that O-I Glass will post 1.13 earnings per share for the current fiscal year.

Insider Buying and Selling at O-I Glass

In other news, Director John Humphrey purchased 15,000 shares of the firm's stock in a transaction on Tuesday, August 6th. The stock was acquired at an average cost of $11.30 per share, with a total value of $169,500.00. Following the completion of the transaction, the director now owns 84,227 shares in the company, valued at approximately $951,765.10. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.49% of the company's stock.

Institutional Investors Weigh In On O-I Glass

A number of institutional investors have recently added to or reduced their stakes in OI. Charles Schwab Investment Management Inc. grew its stake in O-I Glass by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,566,817 shares of the industrial products company's stock valued at $25,664,000 after acquiring an additional 50,394 shares during the period. Dimensional Fund Advisors LP grew its stake in O-I Glass by 12.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,615,054 shares of the industrial products company's stock valued at $108,358,000 after acquiring an additional 728,493 shares during the period. Quadrant Capital Group LLC grew its stake in O-I Glass by 37.3% in the 4th quarter. Quadrant Capital Group LLC now owns 5,168 shares of the industrial products company's stock valued at $85,000 after acquiring an additional 1,404 shares during the period. Panagora Asset Management Inc. grew its stake in O-I Glass by 32.0% in the 4th quarter. Panagora Asset Management Inc. now owns 530,440 shares of the industrial products company's stock valued at $8,689,000 after acquiring an additional 128,474 shares during the period. Finally, Norges Bank acquired a new stake in O-I Glass during the 4th quarter worth $27,562,000. Institutional investors and hedge funds own 97.24% of the company's stock.

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.