Connor Clark & Lunn Investment Management Ltd. Purchases 56,113 Shares of O-I Glass, Inc. (NYSE:OI)

Connor Clark & Lunn Investment Management Ltd. grew its position in O-I Glass, Inc. (NYSE:OI) by 56.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 155,343 shares of the industrial products company’s stock after acquiring an additional 56,113 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in O-I Glass were worth $1,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of O-I Glass by 18.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company’s stock valued at $8,130,000 after buying an additional 94,671 shares in the last quarter. Highland Peak Capital LLC bought a new stake in shares of O-I Glass in the 3rd quarter valued at approximately $27,132,000. Barclays PLC boosted its holdings in shares of O-I Glass by 349.3% in the 3rd quarter. Barclays PLC now owns 261,161 shares of the industrial products company’s stock worth $3,427,000 after purchasing an additional 203,037 shares during the period. Maverick Capital Ltd. bought a new position in shares of O-I Glass during the 3rd quarter valued at approximately $1,264,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in O-I Glass during the 3rd quarter valued at $32,350,000. 97.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup dropped their price objective on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company cut 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. Bank of America raised their price objective on shares of 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, Royal Bank of Canada reissued an “outperform” rating and set a $16.00 price target on shares of O-I Glass in a research note on Monday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.38.

O-I Glass Stock Down 0.1 %

Shares of NYSE:OI opened at $12.18 on Thursday. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. The business’s 50 day moving average is $11.29 and its 200 day moving average is $11.87. The stock has a market cap of $1.88 billion, a P/E ratio of -17.16, 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.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, beating the consensus estimate 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%. Sell-side analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current year.

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.