IQ EQ FUND MANAGEMENT IRELAND Ltd Cuts Position in O-I Glass, Inc. (NYSE:OI)

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its position in O-I Glass, Inc. (NYSE:OI) by 12.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 260,109 shares of the industrial products company’s stock after selling 36,791 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in O-I Glass were worth $2,820,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. R Squared Ltd acquired a new position in O-I Glass during the fourth quarter valued at approximately $45,000. Quest Partners LLC purchased a new stake in O-I Glass during the 3rd quarter worth $77,000. KBC Group NV increased its holdings 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 in the last quarter. XTX Topco Ltd purchased a new position in O-I Glass in the third quarter valued at about $148,000. Finally, Jones Financial Companies Lllp lifted its stake 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 purchasing an additional 11,009 shares in the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Trading Up 1.1 %

OI opened at $11.99 on Thursday. O-I Glass, Inc. has a 12-month low of $9.85 and a 12-month high of $17.58. The company has a debt-to-equity ratio of 3.78, a current ratio of 1.15 and a quick ratio of 0.70. The stock has a market capitalization of $1.85 billion, a PE ratio of -16.88, a P/E/G ratio of 0.24 and a beta of 1.20. The firm’s fifty day moving average price is $11.46 and its 200 day moving average price is $11.85.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. As a group, research analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on OI. Wells Fargo & Company dropped their target price on O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Citigroup dropped their price objective on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $16.00 target price on shares of O-I Glass in a research note on Monday, March 17th. Finally, Bank of America lifted their price target on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. 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 an average rating of “Moderate Buy” and a consensus price target of $15.38.

About O-I Glass

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.