O-I Glass, Inc. (NYSE:OI) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC trimmed its holdings in O-I Glass, Inc. (NYSE:OI - Free Report) by 55.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 83,767 shares of the industrial products company's stock after selling 105,012 shares during the period. Verition Fund Management LLC owned approximately 0.05% of O-I Glass worth $1,099,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Everence Capital Management Inc. boosted its position in shares of O-I Glass by 6.1% during the 3rd quarter. Everence Capital Management Inc. now owns 15,550 shares of the industrial products company's stock worth $204,000 after purchasing an additional 890 shares during the period. Diversified Trust Co boosted its position in shares of O-I Glass by 2.0% during the third quarter. Diversified Trust Co now owns 49,596 shares of the industrial products company's stock worth $651,000 after buying an additional 965 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of 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 valued at $67,000 after buying an additional 1,136 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of O-I Glass by 6.1% in the second quarter. Mackenzie Financial Corp now owns 20,091 shares of the industrial products company's stock valued at $224,000 after buying an additional 1,162 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of O-I Glass by 38.9% in the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company's stock valued at $71,000 after buying an additional 1,521 shares during the period. Institutional investors and hedge funds own 97.24% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Bank of America raised shares of O-I Glass from a "neutral" rating to a "buy" rating and raised their target price for the company from $14.00 to $16.00 in a report on Thursday, October 17th. StockNews.com upgraded shares of O-I Glass from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Citigroup increased their price objective on O-I Glass from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Royal Bank of Canada cut their target price on shares of O-I Glass from $18.00 to $16.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Finally, Barclays decreased their price target on shares of O-I Glass from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $16.25.

O-I Glass Trading Down 0.3 %

OI traded down $0.03 during trading on Monday, hitting $11.82. The company's stock had a trading volume of 1,061,765 shares, compared to its average volume of 1,649,917. The firm's 50 day moving average price is $12.59 and its 200-day moving average price is $12.16. O-I Glass, Inc. has a twelve month low of $10.08 and a twelve month high of $17.58. The stock has a market cap of $1.83 billion, a PE ratio of -4.28 and a beta of 1.20. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.77.

O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.08). The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.80 EPS. On average, analysts expect that O-I Glass, Inc. will post 0.76 earnings per share 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.