SG Americas Securities LLC Cuts Stock Position in O-I Glass, Inc. (NYSE:OI)

SG Americas Securities LLC lessened its stake in O-I Glass, Inc. (NYSE:OI) by 60.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,495 shares of the industrial products company’s stock after selling 25,128 shares during the quarter. SG Americas Securities LLC’s holdings in O-I Glass were worth $216,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. grew its holdings in shares of 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 worth $32,000 after buying an additional 2,675 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of O-I Glass during the first quarter worth $33,000. FinTrust Capital Advisors LLC purchased a new stake in shares of O-I Glass during the first quarter worth $38,000. Headlands Technologies LLC purchased a new stake in shares of O-I Glass during the first quarter worth $39,000. Finally, Bessemer Group Inc. grew its holdings in shares of O-I Glass by 40.2% during the first quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company’s stock worth $76,000 after buying an additional 1,318 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Performance

NYSE OI opened at $12.16 on Wednesday. The firm’s 50-day moving average is $12.70 and its two-hundred day moving average is $12.60. O-I Glass, Inc. has a 12 month low of $10.08 and a 12 month high of $17.58. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 2.85.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. O-I Glass had a negative net margin of 4.32% and a positive return on equity of 15.64%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. As a group, research analysts anticipate that O-I Glass, Inc. will post 1.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other O-I Glass news, Director John Humphrey purchased 15,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $11.30 per share, for a total transaction of $169,500.00. Following the completion of the purchase, the director now directly owns 84,227 shares of the company’s stock, valued at approximately $951,765.10. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on OI shares. Citigroup boosted their price target on shares of O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Company lowered their price target on shares of O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Royal Bank of Canada lowered their price target on shares of O-I Glass from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Finally, UBS Group lowered their price target on shares of O-I Glass from $26.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, O-I Glass presently has an average rating of “Moderate Buy” and a consensus target price of $16.63.

O-I Glass 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.