Edmond DE Rothschild Holding S.A. bought a new position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,000,015 shares of the industrial products company's stock, valued at approximately $19,260,000. Edmond DE Rothschild Holding S.A. owned about 1.30% of O-I Glass as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in O-I Glass in the 2nd quarter valued at $225,727,000. Alliancebernstein L.P. boosted its holdings in shares of O-I Glass by 194.6% during 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 purchasing an additional 5,244,440 shares during the last quarter. Cooper Creek Partners Management LLC boosted its holdings in shares of O-I Glass by 73.8% during the 1st 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 purchasing an additional 2,975,181 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of O-I Glass during the fourth quarter valued at about $40,090,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of 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. 97.24% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on OI shares. BNP Paribas Exane cut O-I Glass from an "outperform" rating to a "neutral" rating and set a $8.50 target price on the stock. in a report on Thursday, July 30th. Wells Fargo & Company cut their price target on O-I Glass from $13.00 to $12.00 and set an "overweight" rating for the company in a report on Wednesday, July 15th. Robert W. Baird set a $13.00 price objective on O-I Glass in a research note on Thursday, July 30th. Citigroup decreased their price objective on O-I Glass from $10.00 to $8.00 and set a "neutral" rating on the stock in a report on Friday, July 31st. Finally, UBS Group lowered their target price on O-I Glass from $15.00 to $11.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $10.19.
Read Our Latest Stock Analysis on OI
O-I Glass Stock Up 3.4%
Shares of NYSE OI opened at $6.58 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 8.89. O-I Glass, Inc. has a 12-month low of $6.35 and a 12-month high of $16.91. The firm's 50-day moving average price is $8.59 and its 200-day moving average price is $10.24. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -0.87, a P/E/G ratio of 2.06 and a beta of 0.66.
O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.15). O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%.The company had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the prior year, the business posted $0.53 EPS. The company's revenue was down 2.2% on a year-over-year basis. On average, equities research analysts anticipate that O-I Glass, Inc. will post 0.42 EPS for the current fiscal year.
O-I Glass Profile
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Free Report)
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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