Shell Asset Management Co. Sells 3,615 Shares of O-I Glass, Inc. (NYSE:OI)

Shell Asset Management Co. decreased its position in O-I Glass, Inc. (NYSE:OIGet Rating) by 12.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 24,350 shares of the industrial products company’s stock after selling 3,615 shares during the quarter. Shell Asset Management Co.’s holdings in O-I Glass were worth $321,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of OI. Allspring Global Investments Holdings LLC bought a new stake in O-I Glass in the 4th quarter worth approximately $1,243,000. State of New Jersey Common Pension Fund D lifted its position in O-I Glass by 34.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 248,771 shares of the industrial products company’s stock worth $2,993,000 after buying an additional 64,140 shares during the last quarter. Yousif Capital Management LLC bought a new stake in O-I Glass in the 4th quarter worth approximately $1,808,000. Dupont Capital Management Corp purchased a new position in O-I Glass in the 4th quarter worth approximately $147,000. Finally, Assenagon Asset Management S.A. purchased a new position in O-I Glass in the 4th quarter worth approximately $2,234,000. Institutional investors own 91.04% of the company’s stock.

O-I Glass Trading Up 1.1 %

NYSE OI opened at $13.38 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.47 and a debt-to-equity ratio of 3.52. O-I Glass, Inc. has a twelve month low of $10.64 and a twelve month high of $17.94. The firm has a market capitalization of $2.09 billion, a PE ratio of 4.55, a P/E/G ratio of 1.17 and a beta of 1.42. The stock’s 50 day moving average is $14.56 and its 200 day moving average is $13.73.

O-I Glass (NYSE:OIGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. O-I Glass had a return on equity of 37.89% and a net margin of 7.02%. During the same quarter last year, the firm earned $0.54 EPS. Research analysts forecast that O-I Glass, Inc. will post 2.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on OI. Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $15.00 to $19.00 in a research note on Friday, May 27th. Barclays cut O-I Glass from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $15.00 to $13.00 in a research note on Monday, July 11th. TheStreet raised O-I Glass from a “c-” rating to a “b-” rating in a research note on Monday, April 25th. Citigroup decreased their price target on O-I Glass from $16.00 to $14.00 in a research note on Friday, April 8th. Finally, Royal Bank of Canada lifted their price target on O-I Glass from $14.00 to $16.00 in a research note on Wednesday, June 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, O-I Glass has an average rating of “Hold” and an average target price of $15.70.

O-I Glass Company Profile

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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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