Alliancebernstein L.P. Has $24.18 Million Stock Position in O-I Glass, Inc. (NYSE:OI)

Alliancebernstein L.P. cut its stake in O-I Glass, Inc. (NYSE:OI) by 12.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,230,844 shares of the industrial products company’s stock after selling 326,503 shares during the period. Alliancebernstein L.P.’s holdings in O-I Glass were worth $24,182,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OI. Edmond DE Rothschild Holding S.A. grew its holdings in O-I Glass by 6.7% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,520,015 shares of the industrial products company’s stock worth $16,477,000 after acquiring an additional 95,000 shares during the period. IPG Investment Advisors LLC grew its stake in O-I Glass by 33.5% during the fourth quarter. IPG Investment Advisors LLC now owns 1,840,668 shares of the industrial products company’s stock worth $19,953,000 after purchasing an additional 462,040 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in O-I Glass by 253.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 197,220 shares of the industrial products company’s stock worth $2,138,000 after purchasing an additional 141,474 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in O-I Glass in the fourth quarter valued at approximately $86,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of O-I Glass by 34.5% during the 4th quarter. JPMorgan Chase & Co. now owns 833,620 shares of the industrial products company’s stock worth $9,036,000 after buying an additional 213,977 shares in the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Price Performance

Shares of NYSE OI opened at $10.29 on Tuesday. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of -14.49, a PEG ratio of 0.24 and a beta of 0.98. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. O-I Glass, Inc. has a fifty-two week low of $9.78 and a fifty-two week high of $16.19. The firm’s 50-day simple moving average is $11.57 and its 200 day simple moving average is $11.78.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates 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, research analysts anticipate that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OI. Wells Fargo & Company lowered their price objective on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Citigroup decreased their price target on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Bank of America raised their target price on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $16.00 target price on shares of O-I Glass in a research report on Monday, March 17th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.38.

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.