O-I Glass, Inc. (NYSE:OI) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in O-I Glass, Inc. (NYSE:OI) by 193.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,798 shares of the industrial products company’s stock after purchasing an additional 57,867 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of O-I Glass worth $1,438,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of OI. National Bank of Canada FI grew its position in shares of O-I Glass by 23.8% in the third quarter. National Bank of Canada FI now owns 10,405 shares of the industrial products company’s stock valued at $171,000 after purchasing an additional 2,000 shares during the period. SG Americas Securities LLC acquired a new stake in shares of O-I Glass in the third quarter valued at about $1,425,000. Exchange Traded Concepts LLC acquired a new stake in shares of O-I Glass in the third quarter valued at about $250,000. Bfsg LLC acquired a new stake in shares of O-I Glass in the third quarter valued at about $237,000. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of O-I Glass by 4.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 155,152 shares of the industrial products company’s stock valued at $2,596,000 after purchasing an additional 6,580 shares during the period. Institutional investors and hedge funds own 97.24% of the company’s stock.

Wall Street Analyst Weigh In

OI has been the topic of a number of recent research reports. TheStreet lowered shares of O-I Glass from a “b-” rating to a “c-” rating in a research report on Tuesday, February 6th. UBS Group initiated coverage on shares of O-I Glass in a research report on Tuesday, January 16th. They set a “buy” rating and a $26.00 price target on the stock. Citigroup lowered shares of O-I Glass from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $17.00 to $18.00 in a research report on Wednesday, January 3rd. Bank of America reaffirmed a “neutral” rating and set a $16.00 target price (down from $21.00) on shares of O-I Glass in a research note on Friday, April 19th. Finally, Barclays lifted 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 research note on Tuesday, February 13th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, O-I Glass presently has a consensus rating of “Hold” and a consensus price target of $22.67.

O-I Glass Price Performance

O-I Glass stock opened at $14.85 on Friday. The company’s 50 day simple moving average is $16.06 and its 200-day simple moving average is $15.62. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of -19.80, a price-to-earnings-growth ratio of 1.04 and a beta of 1.35. 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 quick ratio of 0.77 and a current ratio of 1.23.

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

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.