CANADA LIFE ASSURANCE Co Trims Holdings in O-I Glass, Inc. (NYSE:OI)

CANADA LIFE ASSURANCE Co lowered its stake in shares of O-I Glass, Inc. (NYSE:OI) by 0.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,802,957 shares of the industrial products company’s stock after selling 4,850 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 1.80% of O-I Glass worth $46,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC purchased a new position in O-I Glass during the first quarter valued at approximately $33,000. TFO Wealth Partners LLC grew its holdings in O-I Glass by 24,311.1% in the fourth quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 2,188 shares during the period. FinTrust Capital Advisors LLC acquired a new stake in O-I Glass in the first quarter valued at approximately $38,000. Headlands Technologies LLC acquired a new stake in O-I Glass in the first quarter valued at approximately $39,000. Finally, International Assets Investment Management LLC grew its holdings in O-I Glass by 1,538.0% in the fourth quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 3,845 shares during the period. Institutional investors own 97.24% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on OI shares. Wells Fargo & Company dropped their price objective on O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. UBS Group reduced their target price on O-I Glass from $26.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Robert W. Baird reduced their target price on O-I Glass from $28.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. StockNews.com downgraded O-I Glass from a “hold” rating to a “sell” rating in a report on Tuesday, July 9th. Finally, Barclays cut their price objective on O-I Glass from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, O-I Glass has an average rating of “Hold” and a consensus target price of $17.89.

O-I Glass Stock Performance

OI traded up $0.11 on Thursday, hitting $11.36. 965,753 shares of the company traded hands, compared to its average volume of 1,743,664. The company has a 50 day moving average of $11.68 and a 200-day moving average of $14.15. The company has a quick ratio of 0.56, a current ratio of 1.02 and a debt-to-equity ratio of 2.26. The stock has a market capitalization of $1.77 billion, a PE ratio of -7.17, a PEG ratio of 1.09 and a beta of 1.24. O-I Glass, Inc. has a 12-month low of $10.08 and a 12-month high of $23.49.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.09. O-I Glass had a positive return on equity of 18.25% and a negative net margin of 3.45%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the business posted $1.29 EPS. O-I Glass’s quarterly revenue was down 13.0% on a year-over-year basis. Sell-side analysts anticipate that O-I Glass, Inc. will post 1.71 earnings per share for the current year.

About O-I Glass

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.