Deutsche Bank AG Invests $1.68 Million in O-I Glass, Inc. $OI

Key Points

• Deutsche Bank acquired 174,119 shares of O-I Glass during the second quarter, worth approximately $1.68 million and representing 0.11% of the company. Institutional investors collectively own 97.24% of O-I Glass.
• O-I Glass reported quarterly EPS of $0.09, missing the $0.24 consensus estimate, while revenue fell 2.2% year over year to $1.67 billion. The company posted a negative net margin of 18.13%.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $10.31, compared with the stock’s reported price of $7.39.

Deutsche Bank AG acquired a new stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 174,119 shares of the industrial products company's stock, valued at approximately $1,677,000. Deutsche Bank AG owned 0.11% of O-I Glass at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alliancebernstein L.P. raised its stake in shares of O-I Glass by 194.6% in the 2nd quarter. Alliancebernstein L.P. now owns 7,939,841 shares of the industrial products company's stock valued at $117,033,000 after buying an additional 5,244,440 shares in the last quarter. Cooper Creek Partners Management LLC increased its stake in O-I Glass by 73.8% in the first quarter. Cooper Creek Partners Management LLC now owns 7,006,293 shares of the industrial products company's stock valued at $73,636,000 after acquiring an additional 2,975,181 shares during the period. Wellington Management Group LLP acquired a new position in O-I Glass in the fourth quarter worth about $40,090,000. Arrowstreet Capital Limited Partnership boosted its holdings in O-I Glass by 288.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,215,632 shares of the industrial products company's stock valued at $47,463,000 after purchasing an additional 2,388,299 shares in the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new position in shares of O-I Glass in the 4th quarter worth approximately $25,064,000. 97.24% of the stock is owned by institutional investors.

O-I Glass Stock Up 2.5%

Shares of NYSE:OI opened at $7.39 on Friday. O-I Glass, Inc. has a one year low of $6.29 and a one year high of $16.91. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -0.98, a P/E/G ratio of 2.56 and a beta of 0.66. The company has a debt-to-equity ratio of 8.89, a current ratio of 1.26 and a quick ratio of 0.77. The company has a 50 day moving average of $8.32 and a 200-day moving average of $9.85.

O-I Glass (NYSE:OI - Get Free Report) last released its earnings results on Tuesday, July 28th. The industrial products company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.15). The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.68 billion. O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%.O-I Glass's revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. On average, sell-side analysts forecast that O-I Glass, Inc. will post 0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OI. UBS Group decreased their price target on O-I Glass from $15.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. BNP Paribas Exane cut O-I Glass from an "outperform" rating to a "neutral" rating and set a $8.50 price objective for the company. in a report on Thursday, July 30th. Zacks Research upgraded shares of O-I Glass from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Bank of America reaffirmed an "underperform" rating and issued a $11.00 target price on shares of O-I Glass in a report on Tuesday, July 14th. Finally, Weiss Ratings raised shares of O-I Glass from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $10.31.

O-I Glass Company Profile

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.

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