Stifel Financial Corp Sells 21,825 Shares of O-I Glass, Inc. (NYSE:OI)

Stifel Financial Corp decreased its holdings in O-I Glass, Inc. (NYSE:OI) by 8.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 250,724 shares of the industrial products company’s stock after selling 21,825 shares during the period. Stifel Financial Corp’s holdings in O-I Glass were worth $3,289,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Harbor Capital Advisors Inc. bought a new stake in shares of O-I Glass in the 3rd quarter valued at about $27,000. GAMMA Investing LLC lifted its stake in shares of O-I Glass by 371.0% in the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 1,892 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in O-I Glass by 1,337.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 2,675 shares during the last quarter. Nisa Investment Advisors LLC increased its position in O-I Glass by 28.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,136 shares during the period. Finally, KBC Group NV raised its holdings in O-I Glass by 38.9% during the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 1,521 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

O-I Glass Price Performance

O-I Glass stock opened at $10.69 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. The business’s 50 day simple moving average is $12.44 and its 200 day simple moving average is $12.12. O-I Glass, Inc. has a 12 month low of $10.08 and a 12 month high of $17.58. The company has a market cap of $1.65 billion, a price-to-earnings ratio of -3.87 and a beta of 1.20.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the company posted $0.80 EPS. The firm’s revenue was down 3.7% compared to the same quarter last year. Sell-side analysts forecast that O-I Glass, Inc. will post 0.76 EPS for the current year.

Wall Street Analysts Forecast Growth

OI has been the topic of a number of analyst reports. Citigroup upped their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and upped their price target for the company from $14.00 to $16.00 in a research report on Thursday, October 17th. Barclays lowered their price objective on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Royal Bank of Canada cut their target price on O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, StockNews.com upgraded O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, O-I Glass currently has a consensus rating of “Moderate Buy” and an average target price of $16.25.

O-I Glass Company 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.