O-I Glass, Inc. (NYSE:OI) Shares Sold by Deutsche Bank AG

Deutsche Bank AG lessened its position in O-I Glass, Inc. (NYSE:OI) by 1.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 953,201 shares of the industrial products company’s stock after selling 12,562 shares during the period. Deutsche Bank AG’s holdings in O-I Glass were worth $10,933,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of OI. GAMMA Investing LLC raised its position in shares of O-I Glass by 79.3% in the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,142 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of O-I Glass by 807.2% in the fourth quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company’s stock valued at $53,000 after buying an additional 4,343 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of O-I Glass in the fourth quarter valued at approximately $89,000. CWM LLC increased its position in O-I Glass by 623.9% during the first quarter. CWM LLC now owns 8,390 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 7,231 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in O-I Glass during the fourth quarter worth approximately $106,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on OI shares. BNP Paribas set a $18.00 price target on shares of O-I Glass in a research report on Wednesday, June 25th. Barclays upped their price target 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. Wells Fargo & Company reaffirmed a “mixed” rating on shares of O-I Glass in a research report on Monday, August 4th. BNP Paribas Exane started coverage on shares of O-I Glass in a research report on Wednesday, June 25th. They set an “outperform” rating and a $18.00 price target for the company. Finally, Citigroup upped their price target 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. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

O-I Glass Price Performance

OI opened at $13.65 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 3.58. O-I Glass, Inc. has a 52-week low of $9.23 and a 52-week high of $16.04. The company has a 50 day moving average of $14.26 and a two-hundred day moving average of $12.74. The company has a market cap of $2.10 billion, a P/E ratio of -8.27, a P/E/G ratio of 0.27 and a beta of 0.92.

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 (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.12. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. O-I Glass’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, analysts expect that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

Insider Activity at O-I Glass

In other news, CEO Gordon Hardie bought 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was acquired at an average cost of $13.10 per share, for a total transaction of $104,800.00. Following the completion of the purchase, the chief executive officer owned 515,817 shares of the company’s stock, valued at $6,757,202.70. This trade represents a 1.58% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Darrow A. Abrahams bought 3,828 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was purchased at an average price of $13.05 per share, with a total value of $49,955.40. Following the completion of the purchase, the senior vice president directly owned 184,447 shares of the company’s stock, valued at approximately $2,407,033.35. This trade represents a 2.12% increase in their position. The disclosure for this purchase can be found here. 0.93% of the stock is owned by insiders.

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.