Private Management Group Inc. lowered its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,838,273 shares of the industrial products company's stock after selling 187,458 shares during the quarter. O-I Glass accounts for about 1.1% of Private Management Group Inc.'s portfolio, making the stock its 27th largest position. Private Management Group Inc. owned about 1.84% of O-I Glass worth $30,767,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new position in O-I Glass during the third quarter worth $27,000. GAMMA Investing LLC grew its holdings in O-I Glass by 371.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 1,892 shares during the last quarter. R Squared Ltd purchased a new stake in O-I Glass in the 4th quarter worth about $45,000. Nisa Investment Advisors LLC lifted its stake in O-I Glass by 28.4% in the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company's stock worth $67,000 after purchasing an additional 1,136 shares during the last quarter. Finally, KBC Group NV lifted its stake in 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 worth $71,000 after purchasing an additional 1,521 shares during the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the company. Royal Bank of Canada decreased their price target on O-I Glass from $18.00 to $16.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Bank of America lifted their target price on O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Citigroup cut their price target on shares of O-I Glass from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. StockNews.com upgraded shares of O-I Glass from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Finally, Barclays dropped their target price on shares of O-I Glass from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, O-I Glass presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.38.
Check Out Our Latest Research Report on OI
O-I Glass Stock Down 4.5 %
Shares of NYSE OI traded down $0.54 during midday trading on Thursday, reaching $11.52. 2,149,281 shares of the company's stock traded hands, compared to its average volume of 1,526,383. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -4.17 and a beta of 1.22. O-I Glass, Inc. has a one year low of $9.85 and a one year high of $17.58. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. The stock's 50 day simple moving average is $11.08 and its 200-day simple moving average is $11.96.
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) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.02. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. On average, analysts predict that O-I Glass, Inc. will post 0.75 EPS for the current fiscal year.
O-I Glass Company Profile
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Free Report)
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.
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