Putnam Investments LLC Sells 2,078 Shares of O-I Glass, Inc. (NYSE:OI)

Putnam Investments LLC decreased its position in shares of O-I Glass, Inc. (NYSE:OI – Get Rating) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,182 shares of the industrial products company’s stock after selling 2,078 shares during the quarter. Putnam Investments LLC’s holdings in O-I Glass were worth $1,479,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of OI. Great West Life Assurance Co. Can bought a new position in O-I Glass during the 3rd quarter worth approximately $70,013,000. Levin Capital Strategies L.P. lifted its stake in O-I Glass by 91.9% in the third quarter. Levin Capital Strategies L.P. now owns 3,376,203 shares of the industrial products company’s stock valued at $43,722,000 after buying an additional 1,616,942 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in O-I Glass by 7,574.7% in the third quarter. Point72 Asset Management L.P. now owns 1,074,462 shares of the industrial products company’s stock valued at $13,914,000 after buying an additional 1,060,462 shares in the last quarter. Driehaus Capital Management LLC bought a new position in O-I Glass in the second quarter valued at approximately $14,424,000. Finally, Dimensional Fund Advisors LP lifted its stake in O-I Glass by 19.2% in the third quarter. Dimensional Fund Advisors LP now owns 3,389,263 shares of the industrial products company’s stock valued at $43,892,000 after buying an additional 545,899 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.

Insider Buying and Selling

In other O-I Glass news, insider Vitaliano Torno sold 17,299 shares of the company’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $22.22, for a total value of $384,383.78. Following the transaction, the insider now directly owns 158,010 shares in the company, valued at $3,510,982.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other O-I Glass news, SVP Arnaud Aujouannet sold 2,510 shares of the company’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $22.33, for a total value of $56,048.30. Following the transaction, the senior vice president now directly owns 55,368 shares in the company, valued at $1,236,367.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Vitaliano Torno sold 17,299 shares of the company’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $22.22, for a total transaction of $384,383.78. Following the completion of the transaction, the insider now owns 158,010 shares in the company, valued at $3,510,982.20. The disclosure for this sale can be found here. 1.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of O-I Glass from $18.00 to $24.00 and gave the company a “hold” rating in a research note on Thursday, February 2nd. StockNews.com raised shares of O-I Glass from a “hold” rating to a “buy” rating in a research note on Wednesday, February 1st. Citigroup lifted their price target on shares of O-I Glass from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Barclays lifted their price target on shares of O-I Glass from $13.00 to $18.00 and gave the company an “underweight” rating in a research note on Monday, February 6th. Finally, KeyCorp boosted their price objective on shares of O-I Glass from $12.00 to $15.00 and gave the stock an “underweight” rating in a research report on Thursday, February 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

O-I Glass Price Performance

Shares of OI opened at $20.86 on Tuesday. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 5.68, a PEG ratio of 1.19 and a beta of 1.36. O-I Glass, Inc. has a 1-year low of $11.53 and a 1-year high of $23.52. The company’s fifty day simple moving average is $20.78 and its 200 day simple moving average is $17.25. The company has a current ratio of 1.10, a quick ratio of 0.74 and a debt-to-equity ratio of 2.86.

O-I Glass (NYSE:OI – Get Rating) last issued its earnings results on Tuesday, January 31st. The industrial products company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.59 billion. O-I Glass had a net margin of 8.52% and a return on equity of 27.42%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 earnings per share. On average, research analysts forecast that O-I Glass, Inc. will post 2.5 earnings per share for the current fiscal year.

About O-I Glass

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O-I Glass, Inc engages in manufacturing of glass products. It offers products to the food and beverage sectors. The firm operates through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded in 1929 and is headquartered in Perrysburg, OH.