Comerica Bank Has $2.03 Million Stock Holdings in O-I Glass, Inc. (NYSE:OI)

Comerica Bank lessened its position in O-I Glass, Inc. (NYSE:OIGet Rating) by 10.2% during the 3rd quarter, Holdings Channel reports. The firm owned 120,863 shares of the industrial products company’s stock after selling 13,775 shares during the quarter. Comerica Bank’s holdings in O-I Glass were worth $2,029,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE lifted its position in O-I Glass by 120.9% during the 3rd quarter. US Bancorp DE now owns 2,494 shares of the industrial products company’s stock worth $32,000 after buying an additional 1,365 shares in the last quarter. Lazard Asset Management LLC acquired a new position in O-I Glass during the 1st quarter worth about $34,000. Exchange Traded Concepts LLC acquired a new position in O-I Glass during the 2nd quarter worth about $35,000. Eagle Bay Advisors LLC acquired a new position in O-I Glass during the 2nd quarter worth about $50,000. Finally, Captrust Financial Advisors lifted its position in O-I Glass by 157.6% during the 2nd quarter. Captrust Financial Advisors now owns 6,511 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 3,983 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

O-I Glass Stock Up 0.8 %

OI opened at $18.62 on Friday. O-I Glass, Inc. has a fifty-two week low of $11.51 and a fifty-two week high of $19.92. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.78 and a current ratio of 1.16. The company has a market capitalization of $2.89 billion, a P/E ratio of 4.82, a P/E/G ratio of 1.23 and a beta of 1.37. The stock has a fifty day moving average of $17.11 and a 200-day moving average of $15.21.

O-I Glass (NYSE:OIGet Rating) last posted its earnings results on Tuesday, November 1st. The industrial products company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. O-I Glass had a return on equity of 31.30% and a net margin of 9.09%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.72 billion. On average, equities analysts expect that O-I Glass, Inc. will post 2.25 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OI. Citigroup upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and upped their target price for the company from $15.00 to $22.00 in a research report on Wednesday, January 4th. Royal Bank of Canada increased their target price on O-I Glass from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 3rd. StockNews.com cut shares of O-I Glass from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 5th. Bank of America decreased their price target on shares of O-I Glass from $18.00 to $17.00 in a research note on Thursday, October 13th. Finally, Barclays raised their target price on shares of O-I Glass from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Monday, November 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $18.00.

O-I Glass 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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