Barclays PLC Purchases 203,037 Shares of O-I Glass, Inc. (NYSE:OI)

Barclays PLC raised its position in shares of O-I Glass, Inc. (NYSE:OI) by 349.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 261,161 shares of the industrial products company’s stock after acquiring an additional 203,037 shares during the period. Barclays PLC owned approximately 0.17% of O-I Glass worth $3,427,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in O-I Glass by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock worth $78,952,000 after acquiring an additional 573,300 shares during the period. Levin Capital Strategies L.P. increased its holdings in shares of O-I Glass by 25.0% during the 2nd quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company’s stock worth $39,082,000 after purchasing an additional 703,308 shares during the period. Private Management Group Inc. raised its position in shares of O-I Glass by 20.8% during 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 buying an additional 520,452 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of O-I Glass in the third quarter valued at about $32,350,000. Finally, Highland Peak Capital LLC acquired a new stake in O-I Glass during the third quarter worth about $27,132,000. 97.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Citigroup upped their price target on 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 raised O-I Glass from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.00 to $16.00 in a research report on Thursday, October 17th. Royal Bank of Canada lowered 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. Barclays dropped their price target on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.25.

O-I Glass Stock Up 1.0 %

Shares of NYSE OI opened at $10.14 on Tuesday. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23. The stock has a market capitalization of $1.57 billion, a P/E ratio of -3.67 and a beta of 1.20. The stock’s fifty day moving average is $12.15 and its 200 day moving average is $12.05. O-I Glass, Inc. has a 52 week low of $9.85 and a 52 week high of $17.58.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. O-I Glass’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.80 earnings per share. Sell-side analysts forecast that O-I Glass, Inc. will post 0.76 earnings per share for the current fiscal 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.