Vanguard Group Inc. Cuts Stock Position in O-I Glass, Inc. (NYSE:OI)

Vanguard Group Inc. lessened its stake in O-I Glass, Inc. (NYSE:OI) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,140,439 shares of the industrial products company’s stock after selling 114,955 shares during the period. Vanguard Group Inc. owned 12.46% of O-I Glass worth $313,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its stake in shares of O-I Glass by 37.3% during the fourth quarter. Quadrant Capital Group LLC now owns 5,168 shares of the industrial products company’s stock worth $85,000 after acquiring an additional 1,404 shares during the last quarter. Comerica Bank grew its stake in shares of O-I Glass by 1.8% during the fourth quarter. Comerica Bank now owns 81,833 shares of the industrial products company’s stock worth $1,340,000 after acquiring an additional 1,411 shares during the last quarter. Lumbard & Kellner LLC grew its stake in shares of O-I Glass by 1.4% during the fourth quarter. Lumbard & Kellner LLC now owns 125,708 shares of the industrial products company’s stock worth $2,059,000 after acquiring an additional 1,793 shares during the last quarter. Diversified Trust Co grew its stake in shares of O-I Glass by 4.9% during the fourth quarter. Diversified Trust Co now owns 39,752 shares of the industrial products company’s stock worth $651,000 after acquiring an additional 1,846 shares during the last quarter. Finally, TFO Wealth Partners LLC grew its stake in shares of O-I Glass by 24,311.1% during the fourth quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 2,188 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Trading Up 1.3 %

Shares of NYSE:OI opened at $11.13 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.56 and a debt-to-equity ratio of 2.26. The company has a market capitalization of $1.73 billion, a PE ratio of -7.00, a PEG ratio of 1.07 and a beta of 1.27. The business has a 50 day moving average of $12.76 and a two-hundred day moving average of $14.81. O-I Glass, Inc. has a 12-month low of $10.78 and a 12-month high of $23.57.

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.09. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.69 billion. O-I Glass had a positive return on equity of 18.25% and a negative net margin of 3.45%. The business’s quarterly revenue was down 13.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.29 EPS. As a group, analysts forecast that O-I Glass, Inc. will post 1.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OI. Truist Financial restated a “buy” rating and set a $17.00 price target (down previously from $20.00) on shares of O-I Glass in a research note on Thursday, May 2nd. Royal Bank of Canada decreased their target price on O-I Glass from $25.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Robert W. Baird decreased their target price on O-I Glass from $28.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Barclays decreased their target price on O-I Glass from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Monday, May 6th. Finally, Bank of America reaffirmed a “neutral” rating and set a $16.00 target price (down previously from $21.00) on shares of O-I Glass in a report on Friday, April 19th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.56.

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.