Thrivent Financial for Lutherans Trims Stock Holdings in O-I Glass, Inc. (NYSE:OI)

Thrivent Financial for Lutherans reduced its stake in O-I Glass, Inc. (NYSE:OI) by 9.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 183,587 shares of the industrial products company’s stock after selling 18,487 shares during the period. Thrivent Financial for Lutherans’ holdings in O-I Glass were worth $2,409,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. purchased a new stake in O-I Glass during the third quarter worth about $27,000. Newbridge Financial Services Group Inc. increased its stake in O-I Glass by 1,337.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 2,675 shares during the period. GAMMA Investing LLC increased its stake in O-I Glass by 371.0% during the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 1,892 shares during the period. Nisa Investment Advisors LLC increased its stake in O-I Glass by 28.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,136 shares during the period. Finally, KBC Group NV increased its stake in O-I Glass by 38.9% during the third quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 1,521 shares during the period. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on OI shares. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Royal Bank of Canada cut their target price on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Robert W. Baird cut their target price on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Citigroup upped their target price on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Barclays cut their target price on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.25.

O-I Glass Stock Performance

Shares of OI opened at $12.69 on Thursday. The stock has a 50 day moving average price of $12.71 and a 200 day moving average price of $12.22. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of -4.57 and a beta of 1.20. O-I Glass, Inc. has a 52-week low of $10.08 and a 52-week high of $17.58.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the company earned $0.80 earnings per share. Research analysts predict that O-I Glass, Inc. will post 0.76 EPS for the current fiscal year.

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.