Bailard Inc. Takes Position in O-I Glass, Inc. (NYSE:OI)

Bailard Inc. purchased a new stake in O-I Glass, Inc. (NYSE:OI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 40,758 shares of the industrial products company’s stock, valued at approximately $668,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Covestor Ltd increased its stake in shares of O-I Glass by 259.7% in the 3rd quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 1,205 shares during the last quarter. Signaturefd LLC acquired a new stake in shares of O-I Glass during the 3rd quarter valued at $62,000. International Assets Investment Management LLC boosted its holdings in shares of O-I Glass by 1,538.0% during the 4th quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 3,845 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of O-I Glass by 23.8% during the 3rd quarter. National Bank of Canada FI now owns 10,405 shares of the industrial products company’s stock valued at $171,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of O-I Glass by 29.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,289 shares of the industrial products company’s stock valued at $172,000 after acquiring an additional 2,365 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citigroup downgraded O-I Glass from a “buy” rating to a “neutral” rating and raised their price objective for the company from $17.00 to $18.00 in a report on Wednesday, January 3rd. UBS Group assumed coverage on O-I Glass in a report on Tuesday, January 16th. They set a “buy” rating and a $26.00 price objective on the stock. Bank of America reissued a “neutral” rating and set a $16.00 price objective (down previously from $21.00) on shares of O-I Glass in a report on Friday, April 19th. Barclays lifted their target price on O-I Glass from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 13th. Finally, StockNews.com downgraded O-I Glass from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.67.

O-I Glass Stock Up 1.4 %

OI stock opened at $15.07 on Friday. The stock has a 50-day moving average price of $16.02 and a 200-day moving average price of $15.61. O-I Glass, Inc. has a 1-year low of $13.56 and a 1-year high of $23.57. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.23 and a quick ratio of 0.77.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the company posted $0.38 EPS. The firm’s revenue was down 3.1% compared to the same quarter last year. Equities research analysts expect that O-I Glass, Inc. will post 2.33 earnings per share for the current year.

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.