O-I Glass, Inc. (NYSE:OI) Shares Purchased by Panagora Asset Management Inc.

Panagora Asset Management Inc. increased its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 33.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 725,149 shares of the industrial products company's stock after buying an additional 183,456 shares during the quarter. Panagora Asset Management Inc. owned 0.47% of O-I Glass worth $8,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in O-I Glass by 1,538.0% during the 4th quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company's stock worth $67,000 after purchasing an additional 3,845 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of O-I Glass by 31.6% during the fourth quarter. Russell Investments Group Ltd. now owns 142,065 shares of the industrial products company's stock valued at $2,327,000 after buying an additional 34,073 shares during the last quarter. Van ECK Associates Corp increased its position in shares of O-I Glass by 37.8% in the 4th quarter. Van ECK Associates Corp now owns 178,954 shares of the industrial products company's stock valued at $2,931,000 after acquiring an additional 49,128 shares during the period. Levin Capital Strategies L.P. raised its stake in O-I Glass by 55.0% in the 4th quarter. Levin Capital Strategies L.P. now owns 1,691,765 shares of the industrial products company's stock worth $27,711,000 after acquiring an additional 600,239 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in O-I Glass by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,566,817 shares of the industrial products company's stock worth $25,664,000 after acquiring an additional 50,394 shares during the period. 97.24% of the stock is owned by institutional investors and hedge funds.

O-I Glass Price Performance

Shares of O-I Glass stock traded down $0.10 during trading hours on Friday, reaching $12.69. The stock had a trading volume of 1,011,612 shares, compared to its average volume of 1,760,388. O-I Glass, Inc. has a twelve month low of $10.08 and a twelve month high of $20.29. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 2.85. The firm has a market capitalization of $1.98 billion, a PE ratio of -7.98, a PEG ratio of 1.77 and a beta of 1.24. The stock's 50 day moving average is $11.58 and its 200 day moving average is $13.54.

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

Insider Activity at O-I Glass

In related news, Director John Humphrey bought 15,000 shares of the business's stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average price of $11.30 per share, with a total value of $169,500.00. Following the completion of the purchase, the director now directly owns 84,227 shares of the company's stock, valued at $951,765.10. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.49% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

OI has been the topic of a number of research reports. Barclays cut their price objective on O-I Glass from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Thursday, August 1st. Citigroup reduced their price target 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. UBS Group dropped their price objective on shares of O-I Glass from $26.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, July 17th. Wells Fargo & Company cut their price objective on shares of O-I Glass from $19.00 to $18.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 17th. Finally, StockNews.com upgraded shares of O-I Glass from a "sell" rating to a "hold" rating in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $16.89.

O-I Glass 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.