Shell Asset Management Co. Has $321,000 Holdings in OI Glass, Inc. (NYSE:OI)


Shell Asset Management Co. trimmed its position in shares of OI Glass, Inc. (NYSE:OI – Get Rating) by 12.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,350 shares of the industrial products company’s stock after selling 3,615 shares during the period. Shell Asset Management Co.’s holdings in OI Glass were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in OI Glass during the fourth quarter worth about $1,243,000. State of New Jersey Common Pension Fund D boosted its holdings in OI Glass by 34.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 248,771 shares of the industrial products company’s stock valued at $2,993,000 after acquiring an additional 64,140 shares during the last quarter. Yousif Capital Management LLC bought a new stake in OI Glass in the fourth quarter valued at approximately $1,808,000. Dupont Capital Management Corp bought a new stake in OI Glass in the fourth quarter valued at approximately $147,000. Finally, Assenagon Asset Management SA bought a new stake in OI Glass in the fourth quarter valued at approximately $2,234,000. 91.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on OI. Royal Bank of Canada upped their target price on OI Glass from $14.00 to $16.00 in a report on Wednesday, June 8th. StockNews.com upgraded OI Glass from a “hold” rating to a “buy” rating in a report on Friday, May 6th. Bank of America upgraded OI Glass from a “neutral” rating to a “buy” rating and increased their price target for the stock from $15.00 to $19.00 in a report on Friday, May 27th. Barclays cut OI 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 report on Monday, July 11th. Finally, Citigroup cut their price target on OI Glass from $16.00 to $14.00 in a report on Friday, April 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given 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 $15.70.

OI Glass Price Performance

Shares of OI opened at $13.38 on Friday. OI Glass, Inc. has a 12-month low of $10.64 and a 12-month high of $17.94. The business’s fifty day moving average is $14.56 and its 200 day moving average is $13.73. The company has a quick ratio of 0.94, a current ratio of 1.47 and a debt-to-equity ratio of 3.52. The stock has a market cap of $2.09 billion, a P/E ratio of 4.55, a P/E/G ratio of 1.17 and a beta of 1.42.

OI Glass (NYSE:OI – Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. OI Glass had a return on equity of 37.89% and a net margin of 7.02%. During the same period last year, the company posted $0.54 earnings per share. Sell-side analysts anticipate that OI Glass, Inc. will post 2.11 earnings per share for the current fiscal year.

About OI Glass

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OI 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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Institutional Ownership by Quarter for OI Glass (NYSE:OI)



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