Portolan Capital Management LLC Takes Position in O-I Glass, Inc. (NYSE:OI)

Portolan Capital Management LLC bought a new position in O-I Glass, Inc. (NYSE:OI) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 353,166 shares of the industrial products company’s stock, valued at approximately $4,634,000.

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

O-I Glass Stock Down 1.5 %

OI stock opened at $12.54 on Wednesday. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -4.54 and a beta of 1.20. The firm has a 50-day moving average of $12.68 and a two-hundred day moving average of $12.18. O-I Glass, Inc. has a 12 month low of $10.08 and a 12 month high of $17.58. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The company 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 in the previous year, the business posted $0.80 EPS. As a group, analysts forecast that O-I Glass, Inc. will post 0.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

OI has been the subject of several research analyst reports. Citigroup upped their target price on 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 decreased their price objective on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $16.00 in a research note on Thursday, October 17th. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Barclays lowered their price objective on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, O-I Glass presently has a consensus rating of “Moderate Buy” and a consensus price target 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.