Thrivent Financial for Lutherans Sells 18,487 Shares of O-I Glass, Inc. (NYSE:OI)

Thrivent Financial for Lutherans reduced its position in O-I Glass, Inc. (NYSE:OI) by 9.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 183,587 shares of the industrial products company’s stock after selling 18,487 shares during the period. Thrivent Financial for Lutherans owned 0.12% of O-I Glass worth $2,409,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of OI. Price T Rowe Associates Inc. MD boosted its holdings in shares of O-I Glass by 5.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 116,440 shares of the industrial products company’s stock valued at $1,932,000 after buying an additional 5,504 shares in the last quarter. Comerica Bank boosted its holdings in shares of O-I Glass by 13.6% in the 1st quarter. Comerica Bank now owns 92,953 shares of the industrial products company’s stock valued at $1,542,000 after buying an additional 11,120 shares in the last quarter. Boston Partners bought a new stake in shares of O-I Glass in the 1st quarter valued at about $713,000. Thompson Investment Management Inc. boosted its stake in O-I Glass by 56.1% in the 2nd quarter. Thompson Investment Management Inc. now owns 614,846 shares of the industrial products company’s stock worth $6,843,000 after purchasing an additional 220,963 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in O-I Glass by 112.8% in the 2nd quarter. SG Americas Securities LLC now owns 41,623 shares of the industrial products company’s stock worth $463,000 after purchasing an additional 22,061 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OI has been the subject of a number of recent analyst reports. Truist Financial reiterated a “buy” rating and issued a $16.00 target price (down from $17.00) on shares of O-I Glass in a research note on Thursday, August 1st. Royal Bank of Canada lowered their target price on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Bank of America upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $16.00 in a research note on Thursday, October 17th. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Citigroup lifted their target price on shares of O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.25.

O-I Glass Trading Up 0.7 %

Shares of OI stock opened at $12.69 on Thursday. The company’s 50-day moving average price is $12.71 and its 200-day moving average price is $12.22. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -4.57 and a beta of 1.20. O-I Glass, Inc. has a twelve month low of $10.08 and a twelve month 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 for the quarter, missing the consensus estimate of $0.04 by ($0.08). The firm had revenue of $1.68 billion for 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 company’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 EPS. As a group, equities analysts predict that O-I Glass, Inc. will post 0.76 earnings per share for the current 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.