Quest Partners LLC Buys Shares of 5,852 O-I Glass, Inc. (NYSE:OI)

Quest Partners LLC purchased a new position in O-I Glass, Inc. (NYSE:OI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,852 shares of the industrial products company’s stock, valued at approximately $77,000.

Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew 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 acquiring an additional 573,300 shares in the last quarter. Levin Capital Strategies L.P. grew its position in shares of O-I Glass by 25.0% in the second quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company’s stock valued at $39,082,000 after purchasing an additional 703,308 shares in the last quarter. Private Management Group Inc. increased its holdings in shares of O-I Glass by 20.8% in the third quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company’s stock valued at $39,698,000 after purchasing an additional 520,452 shares during the last quarter. Millennium Management LLC lifted its position in O-I Glass by 27.5% during the second quarter. Millennium Management LLC now owns 1,965,426 shares of the industrial products company’s stock worth $21,875,000 after buying an additional 424,102 shares in the last quarter. Finally, Markel Group Inc. boosted its stake in O-I Glass by 20.8% during the third quarter. Markel Group Inc. now owns 814,100 shares of the industrial products company’s stock worth $10,681,000 after buying an additional 140,000 shares during the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

O-I Glass Stock Down 0.7 %

O-I Glass stock opened at $12.60 on Friday. The company has a market capitalization of $1.95 billion, a PE ratio of -4.57 and a beta of 1.20. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23. 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 50 day moving average price of $12.69 and a 200 day moving average price of $12.22.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share 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 analyst estimates of $1.76 billion. During the same period in the previous year, the firm posted $0.80 earnings per share. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. Research analysts expect that O-I Glass, Inc. will post 0.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on OI shares. Barclays cut their target price on 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 upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Citigroup boosted their target price on shares of O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Royal Bank of Canada cut their price target 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. Finally, Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and upped their price objective for the company from $14.00 to $16.00 in a report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, O-I Glass has a consensus rating of “Moderate Buy” and a consensus target price of $16.25.

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.