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Versor Investments LP Trims Stake in O-I Glass, Inc. (NYSE:OI)

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Versor Investments LP decreased its position in shares of O-I Glass, Inc. (NYSE:OIGet Rating) by 29.1% during the first quarter, Holdings Channel reports. The fund owned 13,253 shares of the industrial products company’s stock after selling 5,447 shares during the period. Versor Investments LP’s holdings in O-I Glass were worth $175,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in OI. First Quadrant LLC CA purchased a new position in shares of O-I Glass during the 1st quarter worth approximately $40,000. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of O-I Glass by 35.7% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,700 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 1,500 shares during the period. National Bank of Canada FI purchased a new position in shares of O-I Glass during the 4th quarter worth approximately $119,000. Acadian Asset Management LLC grew its holdings in shares of O-I Glass by 103.2% during the 4th quarter. Acadian Asset Management LLC now owns 9,974 shares of the industrial products company’s stock worth $119,000 after acquiring an additional 5,065 shares during the period. Finally, Dupont Capital Management Corp purchased a new position in shares of O-I Glass during the 4th quarter worth approximately $147,000. Hedge funds and other institutional investors own 91.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on OI shares. TheStreet upgraded O-I Glass from a “c-” rating to a “b-” rating in a research note on Monday, April 25th. Credit Suisse Group upped their price target on O-I Glass from $18.00 to $21.00 and gave the stock an “outperform” rating in a research note on Thursday, June 9th. Barclays downgraded O-I Glass from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $15.00 to $13.00 in a research note on Monday, July 11th. Deutsche Bank Aktiengesellschaft cut their price target on O-I Glass from $16.00 to $13.00 in a research note on Tuesday, July 19th. Finally, Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and upped their price target for the stock from $15.00 to $19.00 in a research note on Friday, May 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.09.

O-I Glass Stock Performance

Shares of OI opened at $14.71 on Monday. The business’s fifty day simple moving average is $14.69 and its two-hundred day simple moving average is $13.73. The company has a current ratio of 1.42, a quick ratio of 0.94 and a debt-to-equity ratio of 4.19. O-I Glass, Inc. has a 12 month low of $10.64 and a 12 month high of $17.94. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 7.07, a P/E/G ratio of 1.16 and a beta of 1.46.

O-I Glass Company Profile

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O-I Glass, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in the Americas, Europe, and the Asia Pacific. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. It is also involved in the production of glass packaging for various food items, soft drinks, tea, juices, and pharmaceuticals.

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