Levin Capital Strategies L.P. Trims Stake in O-I Glass, Inc. (NYSE:OI)

Levin Capital Strategies L.P. lessened its stake in O-I Glass, Inc. (NYSE:OI - Free Report) by 25.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,750,437 shares of the industrial products company's stock after selling 940,076 shares during the period. O-I Glass comprises 2.8% of Levin Capital Strategies L.P.'s portfolio, making the stock its 7th biggest holding. Levin Capital Strategies L.P. owned approximately 1.78% of O-I Glass worth $29,815,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its position in O-I Glass by 1.1% in the third quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company's stock worth $46,827,000 after purchasing an additional 37,238 shares in the last quarter. Private Management Group Inc. raised its position in O-I Glass by 20.8% in the third quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company's stock worth $39,698,000 after purchasing an additional 520,452 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in O-I Glass in the third quarter worth about $32,350,000. Highland Peak Capital LLC acquired a new position in O-I Glass in the third quarter worth about $27,132,000. Finally, Charles Schwab Investment Management Inc. raised its position in O-I Glass by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,823,138 shares of the industrial products company's stock worth $23,920,000 after purchasing an additional 130,422 shares in the last quarter. Institutional investors own 97.24% of the company's stock.

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O-I Glass Price Performance

Shares of O-I Glass stock traded up $1.12 during midday trading on Wednesday, reaching $11.75. The company had a trading volume of 2,298,059 shares, compared to its average volume of 1,447,249. 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 company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -16.54, a price-to-earnings-growth ratio of 0.24 and a beta of 1.20. The stock has a fifty day simple moving average of $11.08 and a 200 day simple moving average of $11.93. O-I Glass, Inc. has a 1-year low of $9.85 and a 1-year high of $17.58.

O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings results 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 negative net margin of 1.62% and a positive return on equity of 8.27%. As a group, equities research analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OI. Bank of America increased their price target on shares of O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. StockNews.com raised shares of O-I Glass from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Wells Fargo & Company dropped their price objective 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. Finally, Citigroup dropped their price objective on shares of O-I Glass from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, O-I Glass has a consensus rating of "Moderate Buy" and a consensus price target of $15.38.

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.