State of New Jersey Common Pension Fund D Lowers Stake in O-I Glass, Inc. (NYSE:OI)

State of New Jersey Common Pension Fund D lowered its position in shares of O-I Glass, Inc. (NYSE:OIGet Rating) by 21.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 195,603 shares of the industrial products company’s stock after selling 53,168 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in O-I Glass were worth $2,578,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Levin Capital Strategies L.P. purchased a new position in O-I Glass during the first quarter valued at approximately $26,306,000. Mutual of America Capital Management LLC lifted its holdings in shares of O-I Glass by 4.7% in the first quarter. Mutual of America Capital Management LLC now owns 22,425 shares of the industrial products company’s stock worth $296,000 after buying an additional 999 shares in the last quarter. Markel Corp lifted its holdings in shares of O-I Glass by 90.8% in the first quarter. Markel Corp now owns 458,000 shares of the industrial products company’s stock worth $6,036,000 after buying an additional 218,000 shares in the last quarter. Institute for Wealth Management LLC. purchased a new position in shares of O-I Glass in the first quarter worth $441,000. Finally, tru Independence LLC lifted its holdings in shares of O-I Glass by 5.9% in the first quarter. tru Independence LLC now owns 371,288 shares of the industrial products company’s stock worth $4,894,000 after buying an additional 20,725 shares in the last quarter. Hedge funds and other institutional investors own 91.04% of the company’s stock.

O-I Glass Trading Up 3.7 %

OI stock opened at $14.71 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.42 and a debt-to-equity ratio of 4.19. O-I Glass, Inc. has a twelve month low of $10.64 and a twelve month high of $17.94. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 7.07, a price-to-earnings-growth ratio of 1.16 and a beta of 1.46. The firm’s fifty day simple moving average is $14.69 and its two-hundred day simple moving average is $13.73.

Analysts Set New Price Targets

OI has been the topic of several research analyst reports. TheStreet raised shares of O-I Glass from a “c-” rating to a “b-” rating in a report on Monday, April 25th. StockNews.com raised shares of O-I Glass from a “hold” rating to a “buy” rating in a research note on Friday, May 6th. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and upped their price target for the company from $15.00 to $19.00 in a research note on Friday, May 27th. Barclays downgraded shares of O-I Glass from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $15.00 to $13.00 in a research note on Monday, July 11th. Finally, Royal Bank of Canada upped their price target on shares of O-I Glass from $14.00 to $16.00 in a research note on Wednesday, June 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $16.09.

About O-I Glass

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O-I Glass, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in the Americas, Europe, and the Asia Pacific. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. It is also involved in the production of glass packaging for various food items, soft drinks, tea, juices, and pharmaceuticals.

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Institutional Ownership by Quarter for O-I Glass (NYSE:OI)

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