Prudential Financial Inc. cut its position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 8.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 881,804 shares of the industrial products company's stock after selling 84,850 shares during the quarter. Prudential Financial Inc. owned about 0.57% of O-I Glass worth $9,559,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position 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 purchasing an additional 94,671 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of O-I Glass by 57.1% in the fourth quarter. Victory Capital Management Inc. now owns 139,302 shares of the industrial products company's stock worth $1,510,000 after acquiring an additional 50,641 shares in the last quarter. Barclays PLC increased its position in shares of O-I Glass by 349.3% in the third quarter. Barclays PLC now owns 261,161 shares of the industrial products company's stock worth $3,427,000 after acquiring an additional 203,037 shares in the last quarter. Maverick Capital Ltd. purchased a new position in shares of O-I Glass in the 3rd quarter valued at $1,264,000. Finally, Amundi lifted its holdings 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 valued at $996,000 after acquiring an additional 64,844 shares in the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have commented on OI. Royal Bank of Canada reissued an "outperform" rating and issued a $16.00 price objective on shares of O-I Glass in a research report on Monday, March 17th. Citigroup dropped their target price on O-I Glass from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Bank of America upped their price target on O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Finally, Wells Fargo & Company dropped their price objective on shares of 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. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $15.38.
Check Out Our Latest Report on OI
O-I Glass Stock Down 4.5 %
Shares of O-I Glass stock traded down $0.53 on Thursday, hitting $11.24. 1,738,233 shares of the company's stock traded hands, compared to its average volume of 1,591,663. O-I Glass, Inc. has a 52-week low of $9.85 and a 52-week high of $17.29. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. The stock has a market cap of $1.73 billion, a P/E ratio of -15.82, a PEG ratio of 0.24 and a beta of 0.98. The firm's 50-day moving average is $11.61 and its 200 day moving average is $11.83.
O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, topping the consensus estimate 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%. Equities analysts anticipate that O-I Glass, Inc. will post 1.33 earnings per share for the current year.
About O-I Glass
(
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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