Holocene Advisors LP Has $1.40 Million Stock Holdings in O-I Glass, Inc. (NYSE:OI)

Holocene Advisors LP lowered its stake in O-I Glass, Inc. (NYSE:OI) by 50.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 106,290 shares of the industrial products company’s stock after selling 106,564 shares during the quarter. Holocene Advisors LP owned about 0.07% of O-I Glass worth $1,395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in O-I Glass by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock valued at $78,952,000 after buying an additional 573,300 shares during the period. Levin Capital Strategies L.P. raised its position in shares of O-I Glass by 25.0% in the 2nd quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company’s stock valued at $39,082,000 after acquiring an additional 703,308 shares during the period. Private Management Group Inc. boosted its stake in O-I Glass by 20.8% during the 3rd quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company’s stock worth $39,698,000 after acquiring an additional 520,452 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in O-I Glass during the third quarter valued at approximately $32,350,000. Finally, Highland Peak Capital LLC bought a new stake in O-I Glass in the third quarter valued at approximately $27,132,000. 97.24% of the stock is currently owned by institutional investors.

O-I Glass Trading Down 0.4 %

Shares of NYSE:OI opened at $11.85 on Friday. The company’s 50-day moving average price is $12.62 and its two-hundred day moving average price is $12.17. O-I Glass, Inc. has a one year low of $10.08 and a one year high of $17.58. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.77. The stock has a market capitalization of $1.83 billion, a PE ratio of -4.29 and a beta of 1.20.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The business’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.80 EPS. On average, equities analysts forecast that O-I Glass, Inc. will post 0.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on OI. Barclays reduced their target price on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Citigroup upped their price target on shares of O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $14.00 to $16.00 in a research report on Thursday, October 17th. Finally, Royal Bank of Canada lowered their target price on O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.25.

O-I Glass 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.