JPMorgan Chase & Co. Has $8.13 Million Holdings in O-I Glass, Inc. (NYSE:OI)

JPMorgan Chase & Co. boosted its stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 18.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 619,643 shares of the industrial products company's stock after purchasing an additional 94,671 shares during the quarter. JPMorgan Chase & Co. owned about 0.40% of O-I Glass worth $8,130,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Everence Capital Management Inc. lifted its holdings in O-I Glass by 6.1% during the 3rd quarter. Everence Capital Management Inc. now owns 15,550 shares of the industrial products company's stock worth $204,000 after purchasing an additional 890 shares during the last quarter. Diversified Trust Co increased its position in O-I Glass by 2.0% during the 3rd quarter. Diversified Trust Co now owns 49,596 shares of the industrial products company's stock worth $651,000 after buying an additional 965 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of O-I Glass by 28.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company's stock worth $67,000 after buying an additional 1,136 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of O-I Glass by 6.1% in the second quarter. Mackenzie Financial Corp now owns 20,091 shares of the industrial products company's stock valued at $224,000 after acquiring an additional 1,162 shares during the period. Finally, KBC Group NV boosted its position in shares of O-I Glass by 38.9% in the third quarter. KBC Group NV now owns 5,431 shares of the industrial products company's stock valued at $71,000 after acquiring an additional 1,521 shares during the period. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OI has been the subject of several analyst reports. Bank of America lifted their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. StockNews.com upgraded shares of O-I Glass from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Royal Bank of Canada reduced their price target on O-I Glass from $18.00 to $16.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Citigroup lowered their price objective on O-I Glass from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Finally, Wells Fargo & Company cut their target price on O-I Glass from $18.00 to $16.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.38.

O-I Glass Trading Up 1.0 %

Shares of OI stock opened at $10.36 on Wednesday. O-I Glass, Inc. has a fifty-two week low of $9.85 and a fifty-two week high of $17.58. The stock's fifty day moving average price is $11.60 and its two-hundred day moving average price is $11.94. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23. The company has a market cap of $1.60 billion, a PE ratio of -3.75 and a beta of 1.21.

O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the company earned $0.80 earnings per share. O-I Glass's quarterly revenue was down 3.7% compared to the same quarter last year. Equities analysts predict that O-I Glass, Inc. will post 0.76 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.