O-I Glass, Inc. $OI Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in O-I Glass, Inc. (NYSE:OI) by 6.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,072,321 shares of the industrial products company’s stock after selling 73,659 shares during the period. JPMorgan Chase & Co.’s holdings in O-I Glass were worth $13,908,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Alliancebernstein L.P. increased its stake in O-I Glass by 194.6% during the 2nd quarter. Alliancebernstein L.P. now owns 7,939,841 shares of the industrial products company’s stock valued at $117,033,000 after purchasing an additional 5,244,440 shares in the last quarter. Bank of America Corp DE increased its position in shares of O-I Glass by 222.6% in the 2nd quarter. Bank of America Corp DE now owns 2,206,251 shares of the industrial products company’s stock valued at $32,520,000 after acquiring an additional 1,522,384 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in shares of O-I Glass in the 3rd quarter valued at $18,496,000. Assenagon Asset Management S.A. raised its stake in O-I Glass by 181.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,249,473 shares of the industrial products company’s stock worth $16,206,000 after acquiring an additional 806,059 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in O-I Glass by 369.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 631,128 shares of the industrial products company’s stock worth $9,303,000 after acquiring an additional 496,831 shares during the period. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Trading Down 1.0%

Shares of NYSE:OI opened at $12.42 on Thursday. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 3.35. O-I Glass, Inc. has a 12-month low of $9.23 and a 12-month high of $16.91. The business has a 50 day moving average of $15.09 and a two-hundred day moving average of $13.77. The company has a market capitalization of $1.89 billion, a PE ratio of -14.79, a PEG ratio of 0.58 and a beta of 0.82.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. O-I Glass had a negative net margin of 2.01% and a positive return on equity of 18.07%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the firm earned ($0.05) EPS. The business’s quarterly revenue was down 1.9% on a year-over-year basis. As a group, analysts forecast that O-I Glass, Inc. will post 1.33 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of O-I Glass in a research note on Thursday, January 22nd. Wall Street Zen downgraded shares of O-I Glass from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. UBS Group reissued a “buy” rating and set a $21.00 price target on shares of O-I Glass in a research report on Thursday, February 12th. Citigroup dropped their price objective on shares of O-I Glass from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. Finally, Zacks Research lowered shares of O-I Glass from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, O-I Glass has an average rating of “Moderate Buy” and an average price target of $18.11.

About O-I Glass

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.