State of Alaska Department of Revenue Reduces Holdings in O-I Glass, Inc. (NYSE:OI)

State of Alaska Department of Revenue trimmed its position in shares of O-I Glass, Inc. (NYSE:OI) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,889 shares of the industrial products company’s stock after selling 975 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of O-I Glass worth $952,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of OI. Harbor Capital Advisors Inc. purchased a new position in O-I Glass during the third quarter worth $27,000. GAMMA Investing LLC boosted its stake in shares of O-I Glass by 371.0% during the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 1,892 shares during the period. R Squared Ltd purchased a new stake in shares of O-I Glass during the fourth quarter valued at $45,000. Nisa Investment Advisors LLC boosted its stake in shares of 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 purchasing an additional 1,136 shares during the period. Finally, KBC Group NV boosted its stake in shares of O-I Glass by 38.9% during 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 period. 97.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on OI. Bank of America upped their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Barclays lowered 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 research note on Thursday, October 31st. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Royal Bank of Canada lowered 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 research note on Friday, November 1st. Finally, Wells Fargo & Company lowered their price objective on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $15.38.

O-I Glass Price Performance

Shares of NYSE:OI opened at $11.71 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 3.78. O-I Glass, Inc. has a twelve month low of $9.85 and a twelve month high of $17.58. The company’s 50 day moving average is $10.98 and its 200 day moving average is $11.97. The company has a market cap of $1.81 billion, a PE ratio of -16.49, a price-to-earnings-growth ratio of 0.23 and a beta of 1.22.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. On average, sell-side analysts forecast that O-I Glass, Inc. will post 1.36 EPS for the current year.

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.