Dynamic Technology Lab Private Ltd Cuts Stake in O-I Glass, Inc. (NYSE:OI)

Dynamic Technology Lab Private Ltd trimmed its stake in O-I Glass, Inc. (NYSE:OI) by 8.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,140 shares of the industrial products company’s stock after selling 1,850 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in O-I Glass were worth $251,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of OI. Harbor Capital Advisors Inc. acquired a new position in shares of O-I Glass in the 3rd quarter valued at $27,000. GAMMA Investing LLC boosted its holdings in O-I Glass by 371.0% in the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 1,892 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in O-I Glass by 1,337.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 2,675 shares during the period. Nisa Investment Advisors LLC grew its position in O-I Glass by 28.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 1,136 shares during the period. 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 worth $71,000 after purchasing an additional 1,521 shares during the period. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

O-I Glass Stock Performance

Shares of OI stock opened at $12.60 on Monday. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.77. The company’s fifty day moving average price is $12.69 and its two-hundred day moving average price is $12.20. The firm has a market capitalization of $1.95 billion, a P/E ratio of -4.57 and a beta of 1.20. O-I Glass, Inc. has a 12 month low of $10.08 and a 12 month high of $17.58.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the company posted $0.80 EPS. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, research analysts anticipate that O-I Glass, Inc. will post 0.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.