Illinois Municipal Retirement Fund Decreases Stock Holdings in O-I Glass, Inc. (NYSE:OI)

Illinois Municipal Retirement Fund lowered its stake in shares of O-I Glass, Inc. (NYSE:OI) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 88,322 shares of the industrial products company’s stock after selling 3,809 shares during the period. Illinois Municipal Retirement Fund’s holdings in O-I Glass were worth $1,447,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC raised its position in O-I Glass by 40.0% during the fourth quarter. Wedge Capital Management L L P NC now owns 45,064 shares of the industrial products company’s stock worth $738,000 after acquiring an additional 12,871 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in O-I Glass by 193.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 87,798 shares of the industrial products company’s stock worth $1,438,000 after acquiring an additional 57,867 shares during the last quarter. Everence Capital Management Inc. acquired a new position in O-I Glass during the fourth quarter worth about $240,000. Louisiana State Employees Retirement System acquired a new position in O-I Glass during the fourth quarter worth about $1,271,000. Finally, Smith Graham & Co. Investment Advisors LP raised its position in O-I Glass by 5.1% during the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 341,029 shares of the industrial products company’s stock worth $5,586,000 after acquiring an additional 16,681 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Performance

NYSE:OI opened at $15.07 on Friday. The firm has a 50 day simple moving average of $16.02 and a 200-day simple moving average of $15.61. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.23 and a quick ratio of 0.77. O-I Glass, Inc. has a 1-year low of $13.56 and a 1-year high of $23.57.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.03 by $0.09. O-I Glass had a negative net margin of 1.45% and a positive return on equity of 24.90%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the business posted $0.38 earnings per share. O-I Glass’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities research analysts anticipate that O-I Glass, Inc. will post 2.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OI. Barclays lifted their target price on shares of O-I Glass from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 13th. StockNews.com cut shares of O-I Glass from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. TheStreet cut shares of O-I Glass from a “b-” rating to a “c-” rating in a research report on Tuesday, February 6th. UBS Group started coverage on shares of O-I Glass in a research report on Tuesday, January 16th. They issued a “buy” rating and a $26.00 price objective for the company. Finally, Citigroup lowered shares of O-I Glass from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $17.00 to $18.00 in a research report on Wednesday, January 3rd. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.67.

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.