Sanctuary Advisors LLC purchased a new position in O-I Glass, Inc. (NYSE:OI – Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 20,378 shares of the industrial products company’s stock, valued at approximately $263,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in OI. Harbor Capital Advisors Inc. purchased a new stake in O-I Glass during the third quarter worth approximately $27,000. Newbridge Financial Services Group Inc. raised its holdings in 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 purchasing an additional 2,675 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of O-I Glass by 371.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock worth $32,000 after buying an additional 1,892 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of O-I Glass by 28.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after buying an additional 1,136 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of O-I Glass by 38.9% in the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock valued at $71,000 after buying an additional 1,521 shares in the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on OI. 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 on the stock in a research note on Friday, November 1st. Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and boosted their target price for the company from $14.00 to $16.00 in a report on Thursday, October 17th. Citigroup raised their price target on O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Barclays reduced their price objective 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. Finally, StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, O-I Glass currently has an average rating of “Moderate Buy” and an average price target of $16.25.
O-I Glass Price Performance
Shares of NYSE OI opened at $10.30 on Friday. The stock has a fifty day moving average price of $11.94 and a 200 day moving average price of $12.00. O-I Glass, Inc. has a 1-year low of $9.85 and a 1-year high of $17.58. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.77. The company has a market cap of $1.59 billion, a PE ratio of -3.73 and a beta of 1.20.
O-I Glass (NYSE:OI – Get Free Report) last released its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS 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 firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the business posted $0.80 EPS. The firm’s revenue was down 3.7% on a year-over-year basis. Sell-side analysts forecast that O-I Glass, Inc. will post 0.76 EPS 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.
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