Bank of New York Mellon Corp Sells 370,055 Shares of O-I Glass, Inc. (NYSE:OI)

Bank of New York Mellon Corp decreased its position in O-I Glass, Inc. (NYSE:OI) by 25.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,072,098 shares of the industrial products company’s stock after selling 370,055 shares during the period. Bank of New York Mellon Corp owned about 0.69% of O-I Glass worth $11,622,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in shares of O-I Glass during the 3rd quarter worth about $461,000. Hourglass Capital LLC raised its holdings in O-I Glass by 2.7% during the third quarter. Hourglass Capital LLC now owns 81,435 shares of the industrial products company’s stock worth $1,068,000 after acquiring an additional 2,160 shares in the last quarter. KBC Group NV boosted its position 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 last quarter. Natixis Advisors LLC bought a new position in O-I Glass in the third quarter valued at approximately $218,000. Finally, Quest Partners LLC acquired a new position in shares of O-I Glass during the 3rd quarter worth approximately $77,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Bank of America lifted their price objective 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. Finally, 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 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. Based on data from MarketBeat, O-I Glass currently has an average rating of “Moderate Buy” and a consensus price target of $15.38.

O-I Glass Price Performance

Shares of OI opened at $11.18 on Friday. The company’s 50-day moving average is $11.21 and its 200-day moving average is $11.90. The company has a debt-to-equity ratio of 3.78, a current ratio of 1.15 and a quick ratio of 0.70. The firm has a market capitalization of $1.72 billion, a PE ratio of -15.74, a PEG ratio of 0.24 and a beta of 1.20. O-I Glass, Inc. has a fifty-two week low of $9.85 and a fifty-two week high of $17.58.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) EPS 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%. Equities analysts forecast that O-I Glass, Inc. will post 1.33 EPS for the current year.

About O-I Glass

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.