Fmr LLC Grows Holdings in O-I Glass, Inc. (NYSE:OI)

FMR LLC lifted its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,054,398 shares of the industrial products company's stock after purchasing an additional 647,237 shares during the period. FMR LLC owned about 6.50% of O-I Glass worth $108,990,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. R Squared Ltd acquired a new position in shares of O-I Glass in the fourth quarter worth $45,000. KBC Group NV raised its stake in O-I Glass by 42.5% in the 4th quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock valued at $84,000 after purchasing an additional 2,309 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in O-I Glass in the 4th quarter valued at about $86,000. XTX Topco Ltd acquired a new stake in shares of O-I Glass during the 3rd quarter worth about $148,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of O-I Glass by 277.1% during the fourth quarter. Jones Financial Companies Lllp now owns 14,982 shares of the industrial products company's stock worth $162,000 after buying an additional 11,009 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company's stock.

O-I Glass Trading Up 1.0 %

Shares of NYSE:OI traded up $0.11 during trading on Friday, reaching $10.93. 876,741 shares of the stock were exchanged, compared to its average volume of 1,609,847. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -15.40, a price-to-earnings-growth ratio of 0.24 and a beta of 0.98. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. O-I Glass, Inc. has a 12-month low of $9.23 and a 12-month high of $15.72. The firm's 50-day moving average price is $11.33 and its 200 day moving average price is $11.63.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. On average, sell-side analysts anticipate that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OI has been the subject of several analyst reports. Bank of America boosted their price target on O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a report on Monday, January 6th. Citigroup reduced their target price on O-I Glass from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company lowered their price target on O-I Glass from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $16.00 price objective on shares of O-I Glass in a research note on Monday, March 17th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, O-I Glass presently has a consensus rating of "Moderate Buy" and an average target price of $15.38.

O-I Glass Company 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.