Thompson Investment Management Inc. Purchases 120,331 Shares of O-I Glass, Inc. (NYSE:OI)

Thompson Investment Management Inc. lifted its position in shares of O-I Glass, Inc. (NYSE:OI) by 353.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 154,331 shares of the industrial products company’s stock after purchasing an additional 120,331 shares during the quarter. Thompson Investment Management Inc. owned about 0.10% of O-I Glass worth $3,292,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in OI. Norges Bank bought a new stake in O-I Glass in the fourth quarter worth $26,558,000. Alliancebernstein L.P. boosted its holdings in O-I Glass by 116.3% in the fourth quarter. Alliancebernstein L.P. now owns 2,291,497 shares of the industrial products company’s stock worth $37,970,000 after acquiring an additional 1,231,866 shares in the last quarter. Millennium Management LLC boosted its holdings in O-I Glass by 3,268.7% in the fourth quarter. Millennium Management LLC now owns 1,108,594 shares of the industrial products company’s stock worth $18,369,000 after acquiring an additional 1,075,685 shares in the last quarter. Bank of America Corp DE boosted its holdings in O-I Glass by 145.7% in the first quarter. Bank of America Corp DE now owns 1,763,194 shares of the industrial products company’s stock worth $40,042,000 after acquiring an additional 1,045,661 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of O-I Glass by 2,630.2% during the first quarter. American Century Companies Inc. now owns 869,861 shares of the industrial products company’s stock valued at $19,721,000 after purchasing an additional 838,000 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OI. Royal Bank of Canada lowered their price target on O-I Glass from $37.00 to $32.00 and set an “outperform” rating on the stock in a report on Thursday, August 3rd. Citigroup reduced their price objective on O-I Glass from $28.00 to $27.00 in a research report on Monday, July 10th. StockNews.com cut O-I Glass from a “buy” rating to a “hold” rating in a research report on Monday, September 4th. Bank of America reduced their price objective on O-I Glass from $31.00 to $28.00 in a research report on Monday, July 10th. Finally, Credit Suisse Group cut O-I Glass from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $21.00 to $22.00 in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, O-I Glass presently has an average rating of “Hold” and an average target price of $25.60.

O-I Glass Price Performance

Shares of NYSE OI traded down $0.06 during mid-day trading on Friday, reaching $18.31. The company’s stock had a trading volume of 3,270,402 shares, compared to its average volume of 841,551. The stock has a fifty day moving average of $20.57 and a two-hundred day moving average of $21.29. O-I Glass, Inc. has a 52 week low of $12.05 and a 52 week high of $23.57. The firm has a market capitalization of $2.84 billion, a PE ratio of 5.22, a P/E/G ratio of 0.38 and a beta of 1.37. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.42 and a quick ratio of 0.94.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.05. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.85 billion. O-I Glass had a return on equity of 28.93% and a net margin of 7.88%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.73 earnings per share. As a group, sell-side analysts anticipate that O-I Glass, Inc. will post 3.21 EPS for the current fiscal year.

O-I Glass Profile

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.