CANADA LIFE ASSURANCE Co Sells 1,266,935 Shares of O-I Glass, Inc. (NYSE:OI)

CANADA LIFE ASSURANCE Co lessened its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 89.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 154,115 shares of the industrial products company's stock after selling 1,266,935 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.10% of O-I Glass worth $1,669,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. R Squared Ltd acquired a new position in shares of O-I Glass during the 4th quarter valued at $45,000. Sterling Capital Management LLC grew its holdings in O-I Glass by 807.2% during the fourth quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock worth $53,000 after acquiring an additional 4,343 shares during the period. KBC Group NV grew its holdings in O-I Glass by 42.5% during the fourth quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock worth $84,000 after acquiring an additional 2,309 shares during the period. New Age Alpha Advisors LLC bought a new stake in O-I Glass in the fourth quarter worth about $86,000. Finally, Jones Financial Companies Lllp lifted its holdings in O-I Glass by 277.1% in the 4th quarter. Jones Financial Companies Lllp now owns 14,982 shares of the industrial products company's stock valued at $162,000 after acquiring an additional 11,009 shares during the last quarter. Institutional investors own 97.24% of the company's stock.

O-I Glass Stock Up 2.3 %

NYSE OI traded up $0.29 during trading on Friday, reaching $13.10. 259,327 shares of the company's stock were exchanged, compared to its average volume of 1,574,086. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78. O-I Glass, Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $14.15. The company's fifty day simple moving average is $11.38 and its 200-day simple moving average is $11.54. The firm has a market capitalization of $2.03 billion, a PE ratio of -18.43, a P/E/G ratio of 0.24 and a beta of 0.98.

O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.22. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. The firm's revenue was up .4% on a year-over-year basis. Sell-side analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on OI. Royal Bank of Canada reiterated an "outperform" rating and issued a $16.00 target price on shares of O-I Glass in a report on Monday, March 17th. Wells Fargo & Company cut their price objective on O-I Glass from $18.00 to $16.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. Bank of America raised their price objective on O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Barclays boosted their target price on O-I Glass from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Friday. Finally, Citigroup dropped their price target on O-I Glass from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $15.50.

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.