Fmr LLC Has $123.42 Million Stake in O-I Glass, Inc. (NYSE:OI)

Fmr LLC trimmed its stake in shares of O-I Glass, Inc. (NYSE:OI) by 20.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,407,161 shares of the industrial products company’s stock after selling 2,414,004 shares during the period. Fmr LLC owned about 6.08% of O-I Glass worth $123,422,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in OI. Charles Schwab Investment Management Inc. grew its position in shares of O-I Glass by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,823,138 shares of the industrial products company’s stock valued at $23,920,000 after acquiring an additional 130,422 shares during the period. Highland Peak Capital LLC acquired a new stake in shares of O-I Glass during the 3rd quarter worth about $27,132,000. Intech Investment Management LLC acquired a new stake in shares of O-I Glass during the 3rd quarter worth about $563,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of O-I Glass by 22.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 99,230 shares of the industrial products company’s stock worth $1,302,000 after buying an additional 18,000 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of O-I Glass during the 3rd quarter worth about $32,350,000. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

O-I Glass Trading Down 3.3 %

OI opened at $12.13 on Thursday. The company’s 50 day moving average price is $12.67 and its two-hundred day moving average price is $12.18. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.77. 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 capitalization of $1.88 billion, a price-to-earnings ratio of -4.39 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) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the company posted $0.80 EPS. The business’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, research analysts predict that O-I Glass, Inc. will post 0.76 earnings per share 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.