Prudential Financial Inc. Has $9.56 Million Position in O-I Glass, Inc. (NYSE:OI)

Prudential Financial Inc. trimmed its holdings in O-I Glass, Inc. (NYSE:OI) by 8.8% during the fourth quarter, Holdings Channel reports. The firm owned 881,804 shares of the industrial products company’s stock after selling 84,850 shares during the quarter. Prudential Financial Inc.’s holdings in O-I Glass were worth $9,559,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Highland Peak Capital LLC lifted its stake in O-I Glass by 87.5% in the fourth quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company’s stock valued at $42,029,000 after buying an additional 1,809,237 shares during the period. Geode Capital Management LLC lifted its position in shares of O-I Glass by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company’s stock valued at $46,827,000 after acquiring an additional 37,238 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in O-I Glass by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,848,857 shares of the industrial products company’s stock worth $20,042,000 after acquiring an additional 25,719 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in O-I Glass by 111.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,401,400 shares of the industrial products company’s stock worth $15,191,000 after purchasing an additional 737,123 shares during the period. Finally, Markel Group Inc. increased its stake in O-I Glass by 1.2% in the fourth quarter. Markel Group Inc. now owns 824,100 shares of the industrial products company’s stock valued at $8,933,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Down 4.0 %

OI stock opened at $11.54 on Friday. The firm has a market capitalization of $1.78 billion, a PE ratio of -16.25, a P/E/G ratio of 0.24 and a beta of 1.20. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. O-I Glass, Inc. has a twelve month low of $9.85 and a twelve month high of $17.58. The stock’s 50 day moving average is $11.55 and its 200-day moving average is $11.85.

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 (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. Sell-side analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $16.00 price objective on shares of O-I Glass in a research report on Monday, March 17th. Wells Fargo & Company cut their price target on 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 boosted their price objective on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Citigroup cut their target price on O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. 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, the company currently has an average rating of “Moderate Buy” and an average target price of $15.38.

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.