O-I Glass, Inc. (NYSE:OI) Position Raised by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC raised its stake in O-I Glass, Inc. (NYSE:OIFree Report) by 16.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 751,886 shares of the industrial products company’s stock after buying an additional 104,138 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in O-I Glass were worth $12,316,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of O-I Glass by 7.3% during the third quarter. Barclays PLC now owns 97,262 shares of the industrial products company’s stock valued at $1,625,000 after purchasing an additional 6,649 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of O-I Glass by 14.4% during the third quarter. New York State Common Retirement Fund now owns 523,860 shares of the industrial products company’s stock valued at $8,764,000 after purchasing an additional 65,835 shares in the last quarter. Swiss National Bank raised its stake in shares of O-I Glass by 1.0% during the third quarter. Swiss National Bank now owns 341,324 shares of the industrial products company’s stock valued at $5,710,000 after purchasing an additional 3,400 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of O-I Glass by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,516,423 shares of the industrial products company’s stock valued at $25,370,000 after purchasing an additional 21,415 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of O-I Glass by 414.2% during the third quarter. Van ECK Associates Corp now owns 129,826 shares of the industrial products company’s stock valued at $2,172,000 after purchasing an additional 104,576 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com cut shares of O-I Glass from a “hold” rating to a “sell” rating in a research note on Thursday, May 2nd. Robert W. Baird cut their price objective on shares of O-I Glass from $28.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. Wells Fargo & Company cut their price objective on shares of O-I Glass from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Royal Bank of Canada lowered their target price on O-I Glass from $25.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. Finally, Bank of America reaffirmed a “neutral” rating and set a $16.00 target price (down from $21.00) on shares of O-I Glass in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, O-I Glass has an average rating of “Hold” and a consensus target price of $19.56.

Check Out Our Latest Stock Report on O-I Glass

O-I Glass Trading Up 1.4 %

Shares of OI opened at $12.37 on Thursday. The business’s 50-day moving average price is $14.26 and its 200 day moving average price is $15.24. O-I Glass, Inc. has a 1-year low of $12.01 and a 1-year high of $23.57. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.02 and a quick ratio of 0.56.

O-I Glass (NYSE:OIGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.69 billion. O-I Glass had a positive return on equity of 18.25% and a negative net margin of 3.45%. O-I Glass’s revenue was down 13.0% on a year-over-year basis. During the same quarter last year, the business posted $1.29 EPS. On average, analysts expect that O-I Glass, Inc. will post 1.67 earnings per share for the current fiscal year.

O-I Glass Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for O-I Glass (NYSE:OI)

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