Deutsche Bank AG Buys Shares of 174,119 O-I Glass, Inc. $OI

Deutsche Bank AG bought a new position in O-I Glass, Inc. (NYSE:OI) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 174,119 shares of the industrial products company’s stock, valued at approximately $1,677,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alliancebernstein L.P. raised 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 worth $117,033,000 after buying an additional 5,244,440 shares during the period. Cooper Creek Partners Management LLC lifted its holdings in O-I Glass by 73.8% during the first quarter. Cooper Creek Partners Management LLC now owns 7,006,293 shares of the industrial products company’s stock worth $73,636,000 after acquiring an additional 2,975,181 shares in the last quarter. Wellington Management Group LLP acquired a new position in O-I Glass in the fourth quarter valued at about $40,090,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of O-I Glass by 288.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,215,632 shares of the industrial products company’s stock worth $47,463,000 after acquiring an additional 2,388,299 shares in the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new stake in shares of O-I Glass during the fourth quarter worth about $25,064,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

Wall Street Analysts Forecast Growth

OI has been the subject of several research analyst reports. BNP Paribas Exane lowered O-I Glass from an “outperform” rating to a “neutral” rating and set a $8.50 price objective for the company. in a research report on Thursday, July 30th. Zacks Research raised shares of O-I Glass from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Royal Bank Of Canada downgraded shares of O-I Glass from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $10.00 to $8.00 in a research report on Thursday, August 13th. Wells Fargo & Company dropped their price objective on shares of O-I Glass from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Finally, Citigroup raised shares of O-I Glass from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $8.00 to $9.00 in a research report on Friday, August 21st. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $10.31.

O-I Glass Stock Up 2.5%

OI stock opened at $7.39 on Friday. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -0.98, a P/E/G ratio of 2.56 and a beta of 0.66. O-I Glass, Inc. has a twelve month low of $6.29 and a twelve month high of $16.91. The business has a 50 day moving average price of $8.32 and a two-hundred day moving average price of $9.85. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 8.89.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.15). The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.68 billion. O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%.The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. Analysts anticipate that O-I Glass, Inc. will post 0.39 EPS for the current fiscal year.

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.