Prudential Financial Inc. Sells 84,850 Shares of O-I Glass, Inc. (NYSE:OI)

Prudential Financial Inc. trimmed its stake in shares of O-I Glass, Inc. (NYSE:OI) by 8.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 881,804 shares of the industrial products company’s stock after selling 84,850 shares during the quarter. Prudential Financial Inc. owned about 0.57% of O-I Glass worth $9,559,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. KLP Kapitalforvaltning AS bought a new stake in O-I Glass during the fourth quarter worth about $353,000. Sei Investments Co. lifted its holdings in shares of O-I Glass by 112.8% during the 4th quarter. Sei Investments Co. now owns 93,174 shares of the industrial products company’s stock worth $1,010,000 after acquiring an additional 49,383 shares during the period. American Century Companies Inc. boosted its position in shares of O-I Glass by 11.9% during the 4th quarter. American Century Companies Inc. now owns 293,814 shares of the industrial products company’s stock worth $3,185,000 after acquiring an additional 31,200 shares in the last quarter. Quantbot Technologies LP bought a new position in O-I Glass in the fourth quarter valued at approximately $1,615,000. Finally, Corient Private Wealth LLC increased its stake in O-I Glass by 13.4% in the fourth quarter. Corient Private Wealth LLC now owns 16,544 shares of the industrial products company’s stock valued at $179,000 after acquiring an additional 1,954 shares during the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $16.00 target price on shares of O-I Glass in a report on Monday, March 17th. Citigroup decreased 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. Bank of America boosted their target price on O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company decreased their price target on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, O-I Glass presently has a consensus rating of “Moderate Buy” and an average price target of $15.38.

O-I Glass Trading Down 4.0 %

Shares of NYSE OI opened at $11.54 on Friday. The firm has a 50 day moving average price of $11.55 and a two-hundred day moving average price of $11.85. The stock has a market cap of $1.78 billion, a P/E ratio of -16.25, a price-to-earnings-growth ratio of 0.24 and a beta of 1.20. O-I Glass, Inc. has a 52-week low of $9.85 and a 52-week high of $17.58. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. As a group, equities analysts forecast that O-I Glass, Inc. will post 1.33 EPS for the current year.

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.