40,758 Shares in O-I Glass, Inc. (NYSE:OI) Bought by Bailard Inc.

Bailard Inc. acquired a new stake in shares of O-I Glass, Inc. (NYSE:OI) in the 4th quarter, Holdings Channel.com reports. The fund acquired 40,758 shares of the industrial products company’s stock, valued at approximately $668,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Covestor Ltd boosted its holdings in shares of O-I Glass by 259.7% during 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 purchased a new stake in O-I Glass in the 3rd quarter worth about $62,000. International Assets Investment Management LLC raised its position in O-I Glass by 1,538.0% in the 4th quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 3,845 shares during the period. Allspring Global Investments Holdings LLC raised its position in O-I Glass by 29.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,289 shares of the industrial products company’s stock worth $172,000 after purchasing an additional 2,365 shares during the period. Finally, National Bank of Canada FI grew its stake in O-I Glass by 23.8% in the 3rd quarter. National Bank of Canada FI now owns 10,405 shares of the industrial products company’s stock worth $171,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

Wall Street Analyst Weigh In

OI has been the topic of a number of research analyst reports. UBS Group started coverage on shares of O-I Glass in a research note on Tuesday, January 16th. They issued a “buy” rating and a $26.00 target price on the stock. Bank of America restated a “neutral” rating and issued a $16.00 target price (down from $21.00) on shares of O-I Glass in a research note on Friday, April 19th. Citigroup cut shares of O-I Glass from a “buy” rating to a “neutral” rating and raised their price target for the stock from $17.00 to $18.00 in a report on Wednesday, January 3rd. TheStreet cut shares of O-I Glass from a “b-” rating to a “c-” rating in a report on Tuesday, February 6th. Finally, Barclays raised their target price on shares of O-I Glass from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 13th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, O-I Glass currently has an average rating of “Hold” and a consensus target price of $22.67.

O-I Glass Trading Up 1.4 %

OI opened at $15.07 on Friday. O-I Glass, Inc. has a fifty-two week low of $13.56 and a fifty-two week high of $23.57. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 2.69. The company has a fifty day moving average of $16.02 and a two-hundred day moving average of $15.61.

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