O-I Glass, Inc. (NYSE:OI) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its stake in shares of O-I Glass, Inc. (NYSE:OI) by 57.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 664,277 shares of the industrial products company’s stock after selling 906,054 shares during the period. Assenagon Asset Management S.A. owned 0.43% of O-I Glass worth $8,715,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in OI. Levin Capital Strategies L.P. lifted its stake in shares of O-I Glass by 66.0% during the 1st quarter. Levin Capital Strategies L.P. now owns 2,808,105 shares of the industrial products company’s stock worth $46,586,000 after purchasing an additional 1,116,340 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new position in O-I Glass in the first quarter valued at $14,603,000. Dimensional Fund Advisors LP lifted its position in O-I Glass by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock worth $78,952,000 after buying an additional 573,300 shares during the period. Private Management Group Inc. boosted its stake in O-I Glass by 21.3% in the 2nd quarter. Private Management Group Inc. now owns 2,505,279 shares of the industrial products company’s stock worth $27,884,000 after buying an additional 439,838 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in O-I Glass by 27.5% in the 2nd quarter. Millennium Management LLC now owns 1,965,426 shares of the industrial products company’s stock valued at $21,875,000 after buying an additional 424,102 shares during the period. 97.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at O-I Glass

In other O-I Glass news, Director John Humphrey acquired 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average price 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 in the company, valued at $951,765.10. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.49% of the company’s stock.

O-I Glass Stock Up 4.9 %

Shares of O-I Glass stock opened at $12.74 on Tuesday. The business has a 50-day moving average price of $12.71 and a 200 day moving average price of $12.52. O-I Glass, Inc. has a fifty-two week low of $10.08 and a fifty-two week high of $17.58. The firm has a market cap of $1.98 billion, a P/E ratio of -6.64 and a beta of 1.17. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 2.85.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the business earned $0.88 EPS. The business’s quarterly revenue was down 8.5% on a year-over-year basis. On average, sell-side analysts forecast that O-I Glass, Inc. will post 1.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OI. Barclays cut 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 report on Thursday, August 1st. Bank of America upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and lifted their price target for the company from $14.00 to $16.00 in a report on Thursday, October 17th. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Wells Fargo & Company cut their target price on O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada lowered their price target on O-I Glass from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, O-I Glass has a consensus rating of “Moderate Buy” and an average target price of $16.63.

O-I Glass Company 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.