Assenagon Asset Management S.A. Sells 906,054 Shares of O-I Glass, Inc. (NYSE:OI)

Assenagon Asset Management S.A. reduced its position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 57.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 664,277 shares of the industrial products company's stock after selling 906,054 shares during the period. Assenagon Asset Management S.A. owned about 0.43% of O-I Glass worth $8,715,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Everence Capital Management Inc. grew its position in O-I Glass by 6.1% in the third quarter. Everence Capital Management Inc. now owns 15,550 shares of the industrial products company's stock valued at $204,000 after purchasing an additional 890 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of O-I Glass by 33.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 172,565 shares of the industrial products company's stock worth $2,264,000 after buying an additional 43,724 shares during the last quarter. Bfsg LLC grew its holdings in shares of O-I Glass by 30.4% in the 3rd quarter. Bfsg LLC now owns 24,485 shares of the industrial products company's stock valued at $321,000 after acquiring an additional 5,715 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of O-I Glass by 19.3% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 296,900 shares of the industrial products company's stock valued at $3,895,000 after acquiring an additional 48,023 shares in the last quarter. Finally, Creative Planning increased its position in shares of O-I Glass by 74.2% in the third quarter. Creative Planning now owns 74,322 shares of the industrial products company's stock valued at $975,000 after acquiring an additional 31,653 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Royal Bank of Canada decreased their price target on O-I Glass from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Monday, August 5th. Barclays lowered their target price on shares of 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. Bank of America raised shares of O-I Glass from a "neutral" rating to a "buy" rating and upped their price target for the stock from $14.00 to $16.00 in a research report on Thursday, October 17th. Citigroup lifted their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company dropped their target price on shares of O-I Glass from $19.00 to $18.00 and set an "overweight" rating on the stock in a report on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, O-I Glass presently has an average rating of "Moderate Buy" and an average target price of $16.63.

Insiders Place Their Bets

In other O-I Glass news, Director John Humphrey bought 15,000 shares of O-I Glass stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price 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 $951,765.10. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.49% of the company's stock.

O-I Glass Stock Performance

Shares of OI stock traded down $0.30 during midday trading on Tuesday, hitting $12.44. 2,786,783 shares of the company were exchanged, compared to its average volume of 1,681,431. O-I Glass, Inc. has a 52 week low of $10.08 and a 52 week high of $17.58. The firm has a market capitalization of $1.94 billion, a P/E ratio of -7.99 and a beta of 1.17. The firm's 50 day moving average price is $12.72 and its two-hundred day moving average price is $12.50. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.75 and a current ratio of 1.26.

O-I Glass (NYSE:OI - Get Free Report) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $0.44 EPS for the quarter, beating the consensus estimate 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%. The firm'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 earned $0.88 earnings per share. As a group, equities research analysts anticipate that O-I Glass, Inc. will post 1.11 earnings per share for the current year.

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.