O-I Glass, Inc. (NYSE:OI) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in O-I Glass, Inc. (NYSE:OI) by 18.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 619,643 shares of the industrial products company’s stock after purchasing an additional 94,671 shares during the period. JPMorgan Chase & Co. owned about 0.40% of O-I Glass worth $8,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in OI. Harbor Capital Advisors Inc. purchased a new position in shares of O-I Glass in the 3rd quarter valued at about $27,000. Newbridge Financial Services Group Inc. boosted its holdings in O-I Glass by 1,337.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 2,675 shares in the last quarter. GAMMA Investing LLC increased its stake in O-I Glass by 371.0% in the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 1,892 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in O-I Glass by 28.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,136 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of O-I Glass by 38.9% during the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock worth $71,000 after buying an additional 1,521 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

Wall Street Analyst Weigh In

OI has been the topic of a number of research reports. Bank of America raised their price target on O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Barclays decreased 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 note on Thursday, October 31st. Royal Bank of Canada dropped their price objective 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. Finally, Citigroup decreased their target price on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.38.

O-I Glass Trading Up 1.0 %

Shares of O-I Glass stock opened at $10.36 on Wednesday. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -3.75 and a beta of 1.21. O-I Glass, Inc. has a 52-week low of $9.85 and a 52-week high of $17.58. The company’s 50-day simple moving average is $11.60 and its 200-day simple moving average is $11.94. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). The business 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%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. As a group, equities research analysts anticipate that O-I Glass, Inc. will post 0.76 earnings per share 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.