Allianz Asset Management GmbH Has $1.52 Million Stock Position in O-I Glass, Inc. (NYSE:OI)

Allianz Asset Management GmbH raised its holdings in O-I Glass, Inc. (NYSE:OI) by 16.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 132,222 shares of the industrial products company’s stock after acquiring an additional 18,268 shares during the quarter. Allianz Asset Management GmbH’s holdings in O-I Glass were worth $1,517,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cooper Creek Partners Management LLC increased its position in shares of O-I Glass by 18.2% during the fourth quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company’s stock worth $120,132,000 after buying an additional 1,705,216 shares during the period. FMR LLC increased its position in shares of O-I Glass by 6.9% during the fourth quarter. FMR LLC now owns 10,054,398 shares of the industrial products company’s stock worth $108,990,000 after buying an additional 647,237 shares during the period. Dimensional Fund Advisors LP increased its position in shares of O-I Glass by 9.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,449,472 shares of the industrial products company’s stock worth $80,749,000 after buying an additional 617,460 shares during the period. Northern Trust Corp increased its position in shares of O-I Glass by 8.5% during the fourth quarter. Northern Trust Corp now owns 1,738,277 shares of the industrial products company’s stock worth $18,843,000 after buying an additional 135,989 shares during the period. Finally, Millennium Management LLC increased its position in shares of O-I Glass by 251.7% during the fourth quarter. Millennium Management LLC now owns 1,458,102 shares of the industrial products company’s stock worth $15,806,000 after buying an additional 1,043,570 shares during the period. 97.24% of the stock is currently owned by institutional investors and hedge funds.

O-I Glass Stock Down 12.4%

O-I Glass stock opened at $12.68 on Thursday. O-I Glass, Inc. has a 1-year low of $9.23 and a 1-year high of $16.04. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of -7.68, a price-to-earnings-growth ratio of 0.29 and a beta of 0.97. The firm’s fifty day moving average price is $14.25 and its two-hundred day moving average price is $12.55. The company has a current ratio of 1.24, a quick ratio of 0.73 and a debt-to-equity ratio of 3.83.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.12. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 9.99%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts predict that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on OI. Barclays increased their price objective on shares of O-I Glass from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Friday, May 2nd. Citigroup increased their price objective on shares of O-I Glass from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, July 3rd. BNP Paribas set a $18.00 price objective on shares of O-I Glass in a research report on Wednesday, June 25th. Wall Street Zen upgraded shares of O-I Glass from a “hold” rating to a “buy” rating in a report on Sunday, June 29th. Finally, Wells Fargo & Company cut shares of O-I Glass from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $16.00 to $15.00 in a report on Friday, July 18th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.20.

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.