UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 151,203 Shares of O-I Glass, Inc. (NYSE:OI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of O-I Glass, Inc. (NYSE:OI) by 35.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 281,250 shares of the industrial products company’s stock after selling 151,203 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in O-I Glass were worth $3,690,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in O-I Glass by 8.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock valued at $78,952,000 after purchasing an additional 573,300 shares during the last quarter. Levin Capital Strategies L.P. boosted its stake in shares of O-I Glass by 25.0% in the 2nd quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company’s stock worth $39,082,000 after buying an additional 703,308 shares during the last quarter. Private Management Group Inc. boosted its stake in shares of O-I Glass by 20.8% in the 3rd quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company’s stock worth $39,698,000 after buying an additional 520,452 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of O-I Glass in the 3rd quarter worth $32,350,000. Finally, Highland Peak Capital LLC purchased a new position in shares of O-I Glass in the 3rd quarter worth $27,132,000. Institutional investors own 97.24% of the company’s stock.

O-I Glass Price Performance

NYSE:OI opened at $11.47 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. The business’s 50-day simple moving average is $12.52 and its two-hundred day simple moving average is $12.15. The stock has a market cap of $1.77 billion, a PE ratio of -4.16 and a beta of 1.20. O-I Glass, Inc. has a 52 week low of $10.08 and a 52 week high of $17.58.

O-I Glass (NYSE:OI) last posted 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). The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. O-I Glass’s revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 earnings per share. As a group, analysts forecast that O-I Glass, Inc. will post 0.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

OI has been the topic of a number of research reports. Barclays dropped their price target on 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 O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Citigroup lifted their target price on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada lowered their target price on O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and lifted their target price for the company from $14.00 to $16.00 in a research report on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, O-I Glass currently has an average rating of “Moderate Buy” and a consensus target price of $16.25.

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.