Boston Private Wealth LLC cut its stake in O-I Glass, Inc. (NYSE:OI) by 4.5% in the third quarter, Holdings Channel.com reports. The firm owned 20,398 shares of the industrial products company’s stock after selling 961 shares during the period. Boston Private Wealth LLC’s holdings in O-I Glass were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently modified their holdings of the business. Profund Advisors LLC boosted its holdings in O-I Glass by 3.3% in the 2nd quarter. Profund Advisors LLC now owns 21,533 shares of the industrial products company’s stock valued at $352,000 after purchasing an additional 679 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of O-I Glass by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 88,001 shares of the industrial products company’s stock worth $1,437,000 after acquiring an additional 687 shares during the period. Simon Quick Advisors LLC lifted its holdings in shares of O-I Glass by 28.6% during the 3rd quarter. Simon Quick Advisors LLC now owns 4,500 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 1,000 shares during the period. Marshall Wace North America L.P. bought a new position in shares of O-I Glass during the 1st quarter worth about $25,000. Finally, Shell Asset Management Co. lifted its holdings in shares of O-I Glass by 5.8% during the 2nd quarter. Shell Asset Management Co. now owns 29,021 shares of the industrial products company’s stock worth $474,000 after acquiring an additional 1,580 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.
OI opened at $14.28 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 8.51. The stock has a market capitalization of $2.24 billion, a PE ratio of 31.04, a PEG ratio of 0.39 and a beta of 1.73. O-I Glass, Inc. has a 1-year low of $10.64 and a 1-year high of $19.46. The firm has a 50-day moving average price of $12.02 and a two-hundred day moving average price of $13.81.
A number of research firms have recently commented on OI. Loop Capital began coverage on shares of O-I Glass in a report on Tuesday, October 5th. They set a “hold” rating and a $16.00 price objective for the company. Wells Fargo & Company raised shares of O-I Glass from an “underweight” rating to an “equal weight” rating in a report on Wednesday. Royal Bank of Canada reduced their price objective on shares of O-I Glass from $16.00 to $15.00 and set a “sector perform” rating for the company in a report on Thursday, October 28th. Citigroup reduced their price objective on shares of O-I Glass from $14.00 to $13.00 in a report on Tuesday, January 4th. Finally, KeyCorp dropped their target price on shares of O-I Glass from $13.00 to $12.00 and set an “underweight” rating for the company in a research report on Wednesday, October 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $16.00.
About O-I Glass
O-I Glass, Inc engages in manufacturing of glass products. It offers products to the food and beverage sectors. The firm operates through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded in 1929 and is headquartered in Perrysburg, OH.
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