State Board of Administration of Florida Retirement System Lowers Stock Holdings in O-I Glass, Inc. (NYSE:OI)

State Board of Administration of Florida Retirement System trimmed its position in O-I Glass, Inc. (NYSE:OI – Get Rating) by 28.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,449 shares of the industrial products company’s stock after selling 23,340 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in O-I Glass were worth $952,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of OI. IFP Advisors Inc boosted its holdings in O-I Glass by 104.9% in the fourth quarter. IFP Advisors Inc now owns 912 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 467 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in shares of O-I Glass during the 4th quarter valued at about $28,000. Quadrant Capital Group LLC grew its stake in shares of O-I Glass by 251.2% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,346 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,678 shares during the period. US Bancorp DE grew its stake in shares of O-I Glass by 120.9% during the 3rd quarter. US Bancorp DE now owns 2,494 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 1,365 shares during the period. Finally, Lazard Asset Management LLC bought a new position in shares of O-I Glass during the 1st quarter valued at approximately $34,000. 93.60% of the stock is owned by hedge funds and other institutional investors.

O-I Glass Stock Down 1.0 %

O-I Glass stock opened at $20.92 on Wednesday. O-I Glass, Inc. has a twelve month low of $11.60 and a twelve month high of $23.52. The stock has a 50 day moving average of $21.82 and a two-hundred day moving average of $19.71. The company has a current ratio of 1.22, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 4.74, a PEG ratio of 0.48 and a beta of 1.36.

O-I Glass (NYSE:OI – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.46. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.78 billion. O-I Glass had a return on equity of 31.48% and a net margin of 10.04%. O-I Glass’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 earnings per share. As a group, research analysts expect that O-I Glass, Inc. will post 3.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

OI has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on O-I Glass from $18.00 to $24.00 and gave the stock a “hold” rating in a report on Thursday, February 2nd. Royal Bank of Canada upped their price objective on O-I Glass from $34.00 to $37.00 in a research report on Thursday, April 27th. KeyCorp raised their price target on O-I Glass from $12.00 to $15.00 and gave the company an “underweight” rating in a research note on Thursday, February 2nd. Barclays raised their price target on O-I Glass from $18.00 to $19.00 in a research note on Monday, May 1st. Finally, StockNews.com upgraded O-I Glass from a “hold” rating to a “buy” rating in a research note on Friday, May 5th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.70.

O-I Glass Company Profile

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O-I Glass, Inc engages in manufacturing of glass products. It offers products to the food and beverage sectors. The firm operates through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded in 1929 and is headquartered in Perrysburg, OH.