Intech Investment Management LLC Makes New Investment in O-I Glass, Inc. (NYSE:OI)

Intech Investment Management LLC acquired a new stake in O-I Glass, Inc. (NYSE:OI) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 42,896 shares of the industrial products company’s stock, valued at approximately $563,000.

Several other hedge funds and other institutional investors have also made changes to their positions in OI. Price T Rowe Associates Inc. MD grew its position in shares of O-I Glass by 5.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 116,440 shares of the industrial products company’s stock valued at $1,932,000 after buying an additional 5,504 shares during the last quarter. Comerica Bank grew its holdings in shares of O-I Glass by 13.6% during the first quarter. Comerica Bank now owns 92,953 shares of the industrial products company’s stock worth $1,542,000 after purchasing an additional 11,120 shares during the last quarter. Boston Partners acquired a new stake in shares of O-I Glass during the first quarter worth about $713,000. SG Americas Securities LLC lifted its holdings in shares of O-I Glass by 112.8% in the 2nd quarter. SG Americas Securities LLC now owns 41,623 shares of the industrial products company’s stock valued at $463,000 after purchasing an additional 22,061 shares during the last quarter. Finally, Foguth Wealth Management LLC. purchased a new stake in shares of O-I Glass in the 2nd quarter valued at about $138,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. StockNews.com raised 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 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. Bank of America upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and upped their price target for the company from $14.00 to $16.00 in a research report on Thursday, October 17th. Barclays lowered their price objective on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Finally, Royal Bank of Canada reduced their target price 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. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, O-I Glass has an average rating of “Moderate Buy” and a consensus target price of $16.25.

O-I Glass Stock Down 0.7 %

OI stock opened at $12.60 on Monday. 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 one year low of $10.08 and a one year high of $17.58. The stock has a market capitalization of $1.95 billion, a PE ratio of -4.57 and a beta of 1.20. The company has a fifty day moving average of $12.69 and a 200-day moving average of $12.20.

O-I Glass (NYSE:OI) last announced its quarterly earnings results 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 analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the business earned $0.80 EPS. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. As a group, analysts expect that O-I Glass, Inc. will post 0.76 EPS for the current year.

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.