Huber Capital Management LLC Sells 31,000 Shares of O-I Glass, Inc. (NYSE:OI)

Huber Capital Management LLC cut its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 13.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 203,415 shares of the industrial products company's stock after selling 31,000 shares during the quarter. Huber Capital Management LLC owned about 0.13% of O-I Glass worth $2,205,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OI. JPMorgan Chase & Co. boosted its position in shares of O-I Glass by 18.0% in the third quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company's stock valued at $8,130,000 after acquiring an additional 94,671 shares during the period. Victory Capital Management Inc. raised its stake in O-I Glass by 57.1% in the 4th 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 in the last quarter. Barclays PLC boosted its holdings 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 valued at $3,427,000 after purchasing an additional 203,037 shares during the period. Amundi grew its position in shares of O-I Glass by 212.9% during the 4th quarter. Amundi now owns 95,302 shares of the industrial products company's stock worth $996,000 after purchasing an additional 64,844 shares in the last quarter. Finally, Highland Peak Capital LLC grew its position in shares of O-I Glass by 87.5% during the 4th quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company's stock worth $42,029,000 after purchasing an additional 1,809,237 shares in the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Citigroup cut their price target on O-I Glass from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. 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. Royal Bank of Canada restated an "outperform" rating and issued a $16.00 price target on shares of O-I Glass in a research report on Monday, March 17th. Finally, Bank of America boosted their price target on O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a research note 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $15.38.

O-I Glass Price Performance

Shares of OI stock traded down $0.39 on Tuesday, hitting $9.91. 770,784 shares of the company's stock were exchanged, compared to its average volume of 1,480,444. O-I Glass, Inc. has a 12 month low of $9.78 and a 12 month high of $16.19. The company has a debt-to-equity ratio of 3.78, a current ratio of 1.15 and a quick ratio of 0.70. The company has a 50 day moving average of $11.57 and a 200 day moving average of $11.78. The stock has a market cap of $1.53 billion, a P/E ratio of -13.95, a price-to-earnings-growth ratio of 0.24 and a beta of 0.98.

O-I Glass (NYSE:OI - Get Free Report) last posted its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, topping 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%. On average, equities research analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current 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.