Sanctuary Advisors LLC Takes $263,000 Position in O-I Glass, Inc. (NYSE:OI)

Sanctuary Advisors LLC acquired a new stake in O-I Glass, Inc. (NYSE:OI) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 20,378 shares of the industrial products company’s stock, valued at approximately $263,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Highland Peak Capital LLC acquired a new stake in shares of O-I Glass during the 3rd quarter valued at approximately $27,132,000. Barclays PLC increased its stake in O-I Glass by 349.3% in the 3rd quarter. Barclays PLC now owns 261,161 shares of the industrial products company’s stock valued at $3,427,000 after purchasing an additional 203,037 shares in the last quarter. Maverick Capital Ltd. acquired a new position in O-I Glass during the third quarter worth $1,264,000. Segall Bryant & Hamill LLC purchased a new stake in O-I Glass during the third quarter worth $32,350,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in O-I Glass by 33.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 172,565 shares of the industrial products company’s stock valued at $2,264,000 after purchasing an additional 43,724 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on OI shares. Barclays decreased their price objective on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. 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 report on Thursday, October 17th. Citigroup raised their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reduced their target price on O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.25.

O-I Glass Trading Down 0.3 %

Shares of O-I Glass stock opened at $10.30 on Friday. O-I Glass, Inc. has a fifty-two week low of $9.85 and a fifty-two week high of $17.58. The business’s fifty day moving average is $11.94 and its two-hundred day moving average is $12.00. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. The firm has a market cap of $1.59 billion, a PE ratio of -3.73 and a beta of 1.20.

O-I Glass (NYSE:OI) last released its 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). The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 earnings per share. Analysts anticipate that O-I Glass, Inc. will post 0.76 earnings per share 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.