Xponance Inc. Sells 2,777 Shares of O-I Glass, Inc. (NYSE:OI)

Xponance Inc. lessened its holdings in O-I Glass, Inc. (NYSE:OI) by 17.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,891 shares of the industrial products company’s stock after selling 2,777 shares during the quarter. Xponance Inc.’s holdings in O-I Glass were worth $143,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in OI. Fidelis Capital Partners LLC bought a new stake in O-I Glass during the first quarter worth $33,000. TFO Wealth Partners LLC raised its position in O-I Glass by 24,311.1% during the fourth quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 2,188 shares in the last quarter. FinTrust Capital Advisors LLC bought a new stake in O-I Glass during the first quarter worth $38,000. Headlands Technologies LLC bought a new stake in O-I Glass during the first quarter worth $39,000. Finally, Bessemer Group Inc. raised its position in O-I Glass by 40.2% during the first quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 1,318 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup upped their price target on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Barclays dropped their price objective on shares of O-I Glass from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Robert W. Baird dropped their price objective on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Finally, Royal Bank of Canada dropped their price objective on shares of O-I Glass from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.63.

O-I Glass Trading Down 1.5 %

OI stock opened at $12.89 on Thursday. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.75 and a current ratio of 1.26. The company’s 50-day simple moving average is $12.32 and its 200 day simple moving average is $12.92. O-I Glass, Inc. has a 52 week low of $10.08 and a 52 week high of $17.58. The company has a market capitalization of $2.01 billion, a PE ratio of -8.11, a price-to-earnings-growth ratio of 1.87 and a beta of 1.17.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. O-I Glass had a negative net margin of 4.32% and a positive return on equity of 15.64%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the company posted $0.88 earnings per share. O-I Glass’s revenue was down 8.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that O-I Glass, Inc. will post 1.13 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John Humphrey acquired 15,000 shares of O-I Glass stock in a transaction on Tuesday, August 6th. The shares were purchased at an average cost of $11.30 per share, for a total transaction of $169,500.00. Following the completion of the purchase, the director now directly owns 84,227 shares of the company’s stock, valued at approximately $951,765.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.49% of the company’s stock.

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.