Thrivent Financial for Lutherans Trims Holdings in O-I Glass, Inc. (NYSE:OI)

Thrivent Financial for Lutherans trimmed its stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 14.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 157,287 shares of the industrial products company's stock after selling 26,300 shares during the quarter. Thrivent Financial for Lutherans owned about 0.10% of O-I Glass worth $1,705,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Highland Peak Capital LLC lifted its holdings in shares of O-I Glass by 87.5% during the fourth 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 during the period. Assenagon Asset Management S.A. lifted its stake in shares of O-I Glass by 111.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,401,400 shares of the industrial products company's stock worth $15,191,000 after acquiring an additional 737,123 shares during the period. Portolan Capital Management LLC purchased a new position in O-I Glass during the third quarter worth about $4,634,000. Barclays PLC lifted its position in O-I Glass by 349.3% in the third 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. Finally, Charles Schwab Investment Management Inc. lifted its position in O-I Glass by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,823,138 shares of the industrial products company's stock valued at $23,920,000 after purchasing an additional 130,422 shares during the period. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on OI. Citigroup cut their target price 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 price objective 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. Bank of America boosted their target price on shares of O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $16.00 price target on shares of O-I Glass in a report on Monday, March 17th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, O-I Glass has an average rating of "Moderate Buy" and a consensus price target of $15.38.

O-I Glass Price Performance

Shares of O-I Glass stock traded up $0.16 on Wednesday, hitting $11.80. The company's stock had a trading volume of 934,899 shares, compared to its average volume of 1,593,581. 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 firm has a fifty day moving average price of $11.61 and a 200-day moving average price of $11.84. O-I Glass, Inc. has a 52-week low of $9.85 and a 52-week high of $17.58. The company has a market capitalization of $1.82 billion, a P/E ratio of -16.62, a price-to-earnings-growth ratio of 0.24 and a beta of 1.20.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, beating 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%. On average, equities research analysts expect 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.