Centiva Capital LP Purchases 16,473 Shares of O-I Glass, Inc. (NYSE:OI)

Centiva Capital LP increased its holdings in O-I Glass, Inc. (NYSE:OI) by 83.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,250 shares of the industrial products company’s stock after acquiring an additional 16,473 shares during the period. Centiva Capital LP’s holdings in O-I Glass were worth $476,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Everence Capital Management Inc. raised its holdings in shares of O-I Glass by 6.1% in the third quarter. Everence Capital Management Inc. now owns 15,550 shares of the industrial products company’s stock valued at $204,000 after purchasing an additional 890 shares during the last quarter. Diversified Trust Co raised its holdings in shares of O-I Glass by 2.0% in the third quarter. Diversified Trust Co now owns 49,596 shares of the industrial products company’s stock valued at $651,000 after purchasing an additional 965 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings 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 purchasing an additional 1,136 shares during the last quarter. Mackenzie Financial Corp raised its holdings 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 purchasing an additional 1,162 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of O-I Glass by 38.9% in the third quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 1,521 shares during the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

O-I Glass Price Performance

Shares of NYSE:OI opened at $11.85 on Monday. The company has a 50-day moving average price of $12.62 and a two-hundred day moving average price of $12.17. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. O-I Glass, Inc. has a twelve month low of $10.08 and a twelve month high of $17.58. The firm has a market capitalization of $1.83 billion, a PE ratio of -4.29 and a beta of 1.20.

O-I Glass (NYSE:OI) last released its quarterly earnings data 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 firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the business posted $0.80 earnings per share. O-I Glass’s revenue was down 3.7% compared to the same quarter last year. Equities analysts forecast that O-I Glass, Inc. will post 0.76 EPS for the current year.

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.