Moors & Cabot Inc. Makes New $38,000 Investment in O-I Glass, Inc. (NYSE:OI)

Moors & Cabot Inc. purchased a new position in O-I Glass, Inc. (NYSE:OI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 35,000 shares of the industrial products company’s stock, valued at approximately $38,000.

A number of other institutional investors have also bought and sold shares of OI. FMR LLC increased its position in shares of O-I Glass by 34.3% in the second quarter. FMR LLC now owns 23,686,809 shares of the industrial products company’s stock valued at $386,805,000 after acquiring an additional 6,051,501 shares during the period. Vanguard Group Inc. increased its position in shares of O-I Glass by 4.2% in the second quarter. Vanguard Group Inc. now owns 18,544,515 shares of the industrial products company’s stock valued at $302,833,000 after acquiring an additional 750,910 shares during the period. State Street Corp increased its position in shares of O-I Glass by 2.9% in the second quarter. State Street Corp now owns 5,424,980 shares of the industrial products company’s stock valued at $88,590,000 after acquiring an additional 151,366 shares during the period. Geode Capital Management LLC increased its position in shares of O-I Glass by 3.5% in the second quarter. Geode Capital Management LLC now owns 2,569,698 shares of the industrial products company’s stock valued at $41,963,000 after acquiring an additional 86,672 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of O-I Glass by 9.4% in the second quarter. Principal Financial Group Inc. now owns 1,355,848 shares of the industrial products company’s stock valued at $22,141,000 after acquiring an additional 116,117 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

NYSE:OI opened at $14.28 on Friday. O-I Glass, Inc. has a one year low of $10.64 and a one year high of $19.46. The company has a debt-to-equity ratio of 8.51, a current ratio of 1.41 and a quick ratio of 0.94. The company’s 50-day simple moving average is $12.02 and its 200 day simple moving average is $13.81. The firm has a market capitalization of $2.24 billion, a P/E ratio of 31.04, a PEG ratio of 0.39 and a beta of 1.73.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Sunday, October 24th. The industrial products company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.52 by $0.06. O-I Glass had a net margin of 1.23% and a return on equity of 69.39%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the previous year, the firm posted $0.41 earnings per share. O-I Glass’s quarterly revenue was down .4% on a year-over-year basis. On average, equities research analysts expect that O-I Glass, Inc. will post 1.8 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on OI shares. KeyCorp decreased their price objective on shares of O-I Glass from $13.00 to $12.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 27th. TheStreet cut shares of O-I Glass from a “b-” rating to a “c” rating in a research report on Monday, October 25th. Loop Capital started coverage on shares of O-I Glass in a research report on Tuesday, October 5th. They set a “hold” rating and a $16.00 price target on the stock. Citigroup reduced their price target on shares of O-I Glass from $14.00 to $13.00 in a research report on Tuesday, January 4th. Finally, Wells Fargo & Company upgraded shares of O-I Glass from an “underweight” rating to an “equal weight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $16.00.

O-I Glass Profile

O-I Glass, Inc engages in manufacturing of glass products. It offers products to the food and beverage sectors. The firm operates through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded in 1929 and is headquartered in Perrysburg, OH.

See Also: Fiduciary

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Institutional Ownership by Quarter for O-I Glass (NYSE:OI)

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