Arrowstreet Capital Limited Partnership Increases Position in O-I Glass, Inc. (NYSE:OI)

Arrowstreet Capital Limited Partnership lifted its position in shares of O-I Glass, Inc. (NYSE:OI) by 253.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 197,220 shares of the industrial products company’s stock after buying an additional 141,474 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in O-I Glass were worth $2,138,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. New Age Alpha Advisors LLC bought a new stake in O-I Glass during the fourth quarter valued at about $86,000. JPMorgan Chase & Co. raised its stake in O-I Glass by 34.5% during the 4th quarter. JPMorgan Chase & Co. now owns 833,620 shares of the industrial products company’s stock valued at $9,036,000 after purchasing an additional 213,977 shares during the period. WINTON GROUP Ltd purchased a new position in O-I Glass in the 4th quarter worth approximately $192,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in O-I Glass by 2.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 42,900 shares of the industrial products company’s stock worth $465,000 after purchasing an additional 916 shares during the period. Finally, Segall Bryant & Hamill LLC grew its holdings in O-I Glass by 31.5% during the 4th quarter. Segall Bryant & Hamill LLC now owns 3,242,750 shares of the industrial products company’s stock valued at $35,151,000 after buying an additional 777,036 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Price Performance

Shares of OI stock opened at $10.15 on Friday. The stock has a 50 day moving average price of $11.42 and a 200 day moving average price of $11.70. O-I Glass, Inc. has a 52-week low of $9.23 and a 52-week high of $16.16. 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 firm has a market capitalization of $1.57 billion, a P/E ratio of -14.29, a P/E/G ratio of 0.24 and a beta of 0.98.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. As a group, sell-side analysts predict that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

OI has been the subject of a number of research analyst reports. Bank of America raised their price objective on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company dropped their price target on O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of O-I Glass in a research note on Monday, March 17th. Finally, Citigroup cut their target price on O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.38.

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.