Thrivent Financial for Lutherans Cuts Stock Position in O-I Glass, Inc. (NYSE:OI)

Thrivent Financial for Lutherans trimmed its holdings in O-I Glass, Inc. (NYSE:OI) by 14.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 157,287 shares of the industrial products company’s stock after selling 26,300 shares during the period. Thrivent Financial for Lutherans’ holdings in O-I Glass were worth $1,705,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. R Squared Ltd bought a new position in shares of O-I Glass during the fourth quarter worth $45,000. Quest Partners LLC purchased a new stake in O-I Glass in the 3rd quarter worth $77,000. KBC Group NV boosted its holdings in shares of O-I Glass by 42.5% during 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 during the last quarter. XTX Topco Ltd bought a new position in shares of O-I Glass during the 3rd quarter valued at about $148,000. Finally, Jones Financial Companies Lllp grew its position 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 valued at $162,000 after purchasing an additional 11,009 shares in the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company decreased their target price on O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Citigroup decreased their price objective on O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $16.00 target price on shares of O-I Glass in a report on Monday, March 17th. Finally, Bank of America upped their price target on shares of O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $15.38.

O-I Glass Stock Performance

NYSE:OI opened at $11.54 on Friday. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. The stock’s fifty day moving average is $11.55 and its 200 day moving average is $11.85. The firm has a market capitalization of $1.78 billion, a PE ratio of -16.25, a PEG ratio of 0.24 and a beta of 1.20. O-I Glass, Inc. has a fifty-two week low of $9.85 and a fifty-two week high of $17.58.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, sell-side analysts anticipate that O-I Glass, Inc. will post 1.33 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.