Quantbot Technologies LP Acquires Shares of 149,010 O-I Glass, Inc. (NYSE:OI)

Quantbot Technologies LP bought a new position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 149,010 shares of the industrial products company's stock, valued at approximately $1,615,000. Quantbot Technologies LP owned about 0.10% of O-I Glass as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in OI. Corient Private Wealth LLC increased its stake in O-I Glass by 13.4% during the fourth quarter. Corient Private Wealth LLC now owns 16,544 shares of the industrial products company's stock worth $179,000 after acquiring an additional 1,954 shares during the last quarter. KBC Group NV boosted its stake in shares of O-I Glass by 42.5% in the fourth quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock valued at $84,000 after purchasing an additional 2,309 shares during the period. Illinois Municipal Retirement Fund boosted its position in O-I Glass by 3.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 89,224 shares of the industrial products company's stock valued at $967,000 after buying an additional 3,207 shares during the last quarter. Rhumbline Advisers grew its stake in O-I Glass by 0.8% during the 4th quarter. Rhumbline Advisers now owns 485,732 shares of the industrial products company's stock valued at $5,265,000 after purchasing an additional 3,980 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of O-I Glass in the fourth quarter worth $45,000. Hedge funds and other institutional investors own 97.24% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on OI shares. Royal Bank of Canada reissued an "outperform" rating and issued a $16.00 price objective on shares of O-I Glass in a report on Monday, March 17th. Bank of America increased their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Citigroup cut their target price 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 dropped their price target on shares of O-I Glass from $18.00 to $16.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $15.38.

O-I Glass Trading Down 4.0 %

NYSE OI traded down $0.48 on Friday, hitting $11.54. 1,534,640 shares of the company were exchanged, compared to its average volume of 1,600,716. O-I Glass, Inc. has a twelve month low of $9.85 and a twelve month high of $17.58. The company's 50 day moving average price is $11.55 and its 200-day moving average price is $11.85. 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 firm has a market capitalization of $1.78 billion, a P/E ratio of -16.25, a price-to-earnings-growth ratio of 0.24 and a beta of 1.20.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. Analysts predict that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

O-I Glass 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.