Geode Capital Management LLC Buys 37,238 Shares of O-I Glass, Inc. (NYSE:OI)

Geode Capital Management LLC lifted its position in O-I Glass, Inc. (NYSE:OI) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,568,443 shares of the industrial products company’s stock after acquiring an additional 37,238 shares during the quarter. Geode Capital Management LLC owned approximately 2.31% of O-I Glass worth $46,827,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in OI. Harbor Capital Advisors Inc. bought a new position in O-I Glass during the third quarter valued at about $27,000. Newbridge Financial Services Group Inc. grew its position in shares of O-I Glass by 1,337.5% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 2,675 shares during the period. GAMMA Investing LLC increased its stake 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 purchasing an additional 1,892 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in O-I Glass by 28.4% in the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,136 shares during the last quarter. Finally, KBC Group NV grew its holdings in 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 valued at $71,000 after purchasing an additional 1,521 shares during the period. 97.24% of the stock is owned by institutional investors.

O-I Glass Trading Up 1.0 %

OI stock opened at $10.14 on Tuesday. The company has a market capitalization of $1.57 billion, a PE ratio of -3.67 and a beta of 1.20. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23. O-I Glass, Inc. has a one year low of $9.85 and a one year high of $17.58. The company’s 50 day moving average price is $12.15 and its two-hundred day moving average price is $12.05.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 EPS. As a group, analysts predict that O-I Glass, Inc. will post 0.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on OI shares. Citigroup boosted their target price on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada decreased their price objective on 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. Barclays decreased their price target on 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. Bank of America upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $16.00 in a research report on Thursday, October 17th. Finally, StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, O-I Glass presently has an average rating of “Moderate Buy” and a consensus target price of $16.25.

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.