Quantbot Technologies LP Invests $1.62 Million in O-I Glass, Inc. (NYSE:OI)

Quantbot Technologies LP purchased a new stake in shares of O-I Glass, Inc. (NYSE:OI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 149,010 shares of the industrial products company’s stock, valued at approximately $1,615,000. Quantbot Technologies LP owned about 0.10% of O-I Glass as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Natixis Advisors LLC bought a new stake in O-I Glass in the 3rd quarter worth about $218,000. Quest Partners LLC purchased a new stake in shares of O-I Glass during the 3rd quarter valued at about $77,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of O-I Glass by 22.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 99,230 shares of the industrial products company’s stock worth $1,302,000 after acquiring an additional 18,000 shares during the period. Intech Investment Management LLC purchased a new position in shares of O-I Glass during the third quarter valued at approximately $563,000. Finally, Charles Schwab Investment Management Inc. lifted its position in O-I Glass by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,823,138 shares of the industrial products company’s stock valued at $23,920,000 after purchasing an additional 130,422 shares during the period. Institutional investors own 97.24% of the company’s stock.

O-I Glass Trading Down 0.2 %

Shares of NYSE:OI opened at $11.96 on Tuesday. The stock has a 50 day moving average of $11.43 and a 200 day moving average of $11.86. The company has a market cap of $1.84 billion, a PE ratio of -16.84, a price-to-earnings-growth ratio of 0.24 and a beta of 1.20. O-I Glass, Inc. has a 12-month low of $9.85 and a 12-month high of $17.58. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, topping 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, equities research analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current year.

Wall Street Analysts Forecast Growth

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

About O-I Glass

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.