Amundi Increases Stock Position in O-I Glass, Inc. (NYSE:OI)

Amundi increased its position in O-I Glass, Inc. (NYSE:OI) by 212.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,302 shares of the industrial products company’s stock after purchasing an additional 64,844 shares during the quarter. Amundi owned 0.06% of O-I Glass worth $996,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC boosted its stake in O-I Glass by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company’s stock valued at $46,827,000 after acquiring an additional 37,238 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in O-I Glass during the 3rd quarter valued at $32,350,000. Highland Peak Capital LLC bought a new position in O-I Glass during the 3rd quarter valued at $27,132,000. Charles Schwab Investment Management Inc. boosted its stake in O-I Glass by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,848,857 shares of the industrial products company’s stock valued at $20,042,000 after acquiring an additional 25,719 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in O-I Glass by 111.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,401,400 shares of the industrial products company’s stock valued at $15,191,000 after acquiring an additional 737,123 shares during the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on OI shares. Citigroup reduced their price objective on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Bank of America lifted their price target on shares of O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $16.00 target price on shares of O-I Glass in a research note on Monday. Finally, Wells Fargo & Company lowered their target price on O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $15.38.

O-I Glass Stock Performance

Shares of NYSE OI opened at $12.18 on Thursday. The stock has a fifty day moving average price of $11.29 and a two-hundred day moving average price of $11.87. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. The firm has a market cap of $1.88 billion, a P/E ratio of -17.16, a PEG ratio of 0.24 and a beta of 1.20. 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. Research analysts forecast that O-I Glass, Inc. will post 1.33 EPS 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.