New York State Teachers Retirement System Decreases Stake in O-I Glass, Inc. (NYSE:OI)

New York State Teachers Retirement System lowered its stake in O-I Glass, Inc. (NYSE:OI) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 191,090 shares of the industrial products company’s stock after selling 1,400 shares during the period. New York State Teachers Retirement System owned 0.12% of O-I Glass worth $2,071,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new position in shares of O-I Glass during the third quarter worth $27,000. R Squared Ltd purchased a new position in shares of O-I Glass during the fourth quarter worth $45,000. Nisa Investment Advisors LLC raised its holdings in shares of 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 during the last quarter. KBC Group NV raised its holdings in shares of O-I Glass by 38.9% during the third quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 1,521 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of O-I Glass during the third quarter worth $77,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OI. Royal Bank of Canada cut their price objective 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. Citigroup dropped their target price on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Barclays dropped their target price 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, Bank of America lifted their target price on shares of O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $15.38.

O-I Glass Stock Down 4.2 %

OI stock opened at $11.27 on Friday. The firm has a fifty day moving average price of $10.96 and a two-hundred day moving average price of $11.95. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -15.87, a PEG ratio of 0.24 and a beta of 1.22. The company has a debt-to-equity ratio of 3.78, a current ratio of 1.15 and a quick ratio of 0.70. O-I Glass, Inc. has a 1-year low of $9.85 and a 1-year high of $17.58.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. Research analysts predict that O-I Glass, Inc. will post 1.33 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.