J.P. Morgan Private Wealth Advisors LLC trimmed its position in shares of O-I Glass, Inc. (NYSE:OI – Free Report) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 169,008 shares of the industrial products company’s stock after selling 2,171 shares during the period. J.P. Morgan Private Wealth Advisors LLC’s holdings in O-I Glass were worth $2,828,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of O-I Glass during the fourth quarter worth $26,558,000. Alliancebernstein L.P. lifted its position in shares of O-I Glass by 116.3% during 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 lifted its position in shares of O-I Glass by 3,268.7% during 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 lifted its position in shares of O-I Glass by 145.7% during 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, Appian Way Asset Management LP purchased a new stake in shares of O-I Glass during the second quarter worth $15,270,000. 91.29% of the stock is owned by institutional investors.
O-I Glass Trading Down 2.0 %
NYSE OI opened at $16.07 on Friday. The stock’s 50-day simple moving average is $15.59 and its two-hundred day simple moving average is $16.82. O-I Glass, Inc. has a twelve month low of $13.56 and a twelve month high of $23.57. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 2.69. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of -21.43, a PEG ratio of 1.16 and a beta of 1.32.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the company. Citigroup downgraded O-I Glass from a “buy” rating to a “neutral” rating and increased their target price for the stock from $17.00 to $18.00 in a research report on Wednesday, January 3rd. Barclays lowered their price objective on O-I Glass from $18.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 2nd. UBS Group initiated coverage on O-I Glass in a research report on Tuesday, January 16th. They issued a “buy” rating and a $26.00 price objective on the stock. StockNews.com upgraded O-I Glass from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, TheStreet downgraded O-I Glass from a “b-” rating to a “c-” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, O-I Glass presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.
About O-I Glass
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.
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