CIBC Private Wealth Group LLC Sells 87,182 Shares of O-I Glass, Inc. (NYSE:OI)

CIBC Private Wealth Group LLC lessened its holdings in O-I Glass, Inc. (NYSE:OI - Free Report) by 28.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 224,378 shares of the industrial products company's stock after selling 87,182 shares during the period. CIBC Private Wealth Group LLC owned about 0.15% of O-I Glass worth $2,345,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in O-I Glass by 18.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company's stock worth $8,130,000 after acquiring an additional 94,671 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in O-I Glass by 57.1% during the fourth quarter. Victory Capital Management Inc. now owns 139,302 shares of the industrial products company's stock worth $1,510,000 after purchasing an additional 50,641 shares during the last quarter. Barclays PLC grew its position in O-I Glass by 349.3% in the 3rd quarter. Barclays PLC now owns 261,161 shares of the industrial products company's stock worth $3,427,000 after purchasing an additional 203,037 shares in the last quarter. Amundi increased its stake in O-I Glass by 212.9% in the 4th quarter. Amundi now owns 95,302 shares of the industrial products company's stock valued at $996,000 after buying an additional 64,844 shares during the last quarter. Finally, Highland Peak Capital LLC increased its stake in O-I Glass by 87.5% in the 4th quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company's stock valued at $42,029,000 after buying an additional 1,809,237 shares during the last quarter. Institutional investors own 97.24% of the company's stock.

Wall Street Analysts Forecast Growth

OI has been the subject of several recent analyst reports. Bank of America upped their target price on O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a report on Monday, January 6th. Royal Bank of Canada restated an "outperform" rating and issued a $16.00 price objective on shares of O-I Glass in a research note on Monday, March 17th. Wells Fargo & Company lowered their target price on O-I Glass from $18.00 to $16.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. Finally, Citigroup reduced their price target on shares of O-I Glass from $12.00 to $11.00 and set a "neutral" 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 assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.38.

O-I Glass Stock Performance

NYSE OI traded down $0.25 during trading on Monday, hitting $10.29. 2,273,689 shares of the company's stock traded hands, compared to its average volume of 1,596,172. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -14.49, a PEG ratio of 0.24 and a beta of 0.98. O-I Glass, Inc. has a 12-month low of $9.78 and a 12-month high of $16.19. The business has a 50 day moving average of $11.57 and a 200-day moving average of $11.78.

O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) EPS 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 anticipate that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

O-I Glass Company 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.