Edmond DE Rothschild Holding S.A. Buys 95,000 Shares of O-I Glass, Inc. (NYSE:OI)

Edmond DE Rothschild Holding S.A. increased its stake in O-I Glass, Inc. (NYSE:OI) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,520,015 shares of the industrial products company’s stock after buying an additional 95,000 shares during the quarter. Edmond DE Rothschild Holding S.A. owned approximately 0.98% of O-I Glass worth $16,477,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in OI. R Squared Ltd acquired a new stake in O-I Glass in the fourth quarter valued at $45,000. KBC Group NV grew its holdings in O-I Glass by 42.5% during the fourth quarter. KBC Group NV now owns 7,740 shares of the industrial products company’s stock worth $84,000 after purchasing an additional 2,309 shares during the period. New Age Alpha Advisors LLC acquired a new position in O-I Glass during the fourth quarter worth approximately $86,000. XTX Topco Ltd bought a new stake in O-I Glass in the third quarter valued at approximately $148,000. Finally, Jones Financial Companies Lllp lifted its position in shares of O-I Glass by 277.1% in the fourth quarter. Jones Financial Companies Lllp now owns 14,982 shares of the industrial products company’s stock valued at $162,000 after buying an additional 11,009 shares during the last quarter. 97.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OI. Wells Fargo & Company decreased their target price 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. Citigroup decreased their price objective on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $16.00 price objective on shares of O-I Glass in a research report on Monday, March 17th. Finally, Bank of America lifted their target price on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, O-I Glass presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.38.

O-I Glass Price Performance

NYSE:OI opened at $11.54 on Monday. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -16.25, a P/E/G 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. The firm’s 50-day simple moving average is $11.55 and its 200 day simple moving average is $11.85.

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, topping the consensus estimate 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%. As a group, sell-side analysts predict that O-I Glass, Inc. will post 1.33 earnings per share 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.