O-I Glass, Inc. (NYSE:OI) is Levin Capital Strategies L.P.’s 7th Largest Position

Levin Capital Strategies L.P. lowered its holdings in shares of O-I Glass, Inc. (NYSE:OI) by 25.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,750,437 shares of the industrial products company’s stock after selling 940,076 shares during the quarter. O-I Glass makes up 2.8% of Levin Capital Strategies L.P.’s portfolio, making the stock its 7th biggest holding. Levin Capital Strategies L.P. owned approximately 1.78% of O-I Glass worth $29,815,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Illinois Municipal Retirement Fund grew its position in shares of O-I Glass by 3.7% during the fourth quarter. Illinois Municipal Retirement Fund now owns 89,224 shares of the industrial products company’s stock worth $967,000 after purchasing an additional 3,207 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of O-I Glass by 2.2% during the fourth quarter. Principal Financial Group Inc. now owns 750,006 shares of the industrial products company’s stock worth $8,130,000 after purchasing an additional 15,964 shares in the last quarter. Hourglass Capital LLC grew its position in shares of O-I Glass by 105.6% during the fourth quarter. Hourglass Capital LLC now owns 167,450 shares of the industrial products company’s stock worth $1,815,000 after purchasing an additional 86,015 shares in the last quarter. Rhumbline Advisers grew its position in shares of O-I Glass by 0.8% during the fourth quarter. Rhumbline Advisers now owns 485,732 shares of the industrial products company’s stock worth $5,265,000 after purchasing an additional 3,980 shares in the last quarter. Finally, Thompson Investment Management Inc. grew its holdings in O-I Glass by 3.4% during the 4th quarter. Thompson Investment Management Inc. now owns 731,838 shares of the industrial products company’s stock valued at $7,933,000 after buying an additional 24,304 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Trading Up 1.2 %

Shares of NYSE:OI opened at $11.46 on Friday. O-I Glass, Inc. has a 12-month low of $9.85 and a 12-month high of $17.58. The business’s fifty day simple moving average is $11.05 and its 200-day simple moving average is $11.95. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78. The company has a market capitalization of $1.76 billion, a PE ratio of -16.13, a P/E/G ratio of 0.24 and a beta of 1.22.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on OI shares. StockNews.com upgraded O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Wells Fargo & Company cut their price target on O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Citigroup cut their price target on O-I Glass from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, Bank of America raised their price target on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.