Bridgeway Capital Management LLC Decreases Stock Holdings in O-I Glass, Inc. (NYSE:OI)

Bridgeway Capital Management LLC lessened its stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 34.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 149,900 shares of the industrial products company's stock after selling 80,000 shares during the period. Bridgeway Capital Management LLC owned about 0.10% of O-I Glass worth $1,625,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in O-I Glass in the 4th quarter worth approximately $45,000. Sterling Capital Management LLC raised its stake in shares of O-I Glass by 807.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 4,343 shares during the period. KBC Group NV lifted its holdings in O-I Glass by 42.5% during the 4th quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock worth $84,000 after purchasing an additional 2,309 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in O-I Glass in the 4th quarter worth about $86,000. Finally, Freestone Grove Partners LP bought a new position in O-I Glass in the 4th quarter worth about $129,000. Hedge funds and other institutional investors own 97.24% of the company's stock.

O-I Glass Price Performance

Shares of O-I Glass stock traded down $0.10 during trading on Thursday, hitting $13.64. 252,699 shares of the stock traded hands, compared to its average volume of 1,569,282. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -19.22, a PEG ratio of 0.24 and a beta of 0.93. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. O-I Glass, Inc. has a 52 week low of $9.23 and a 52 week high of $14.34. The firm's fifty day moving average is $11.74 and its 200-day moving average is $11.59.

O-I Glass (NYSE:OI - Get Free Report) last released its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.18 by $0.22. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.55 billion. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. The firm's quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 EPS. Research analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on OI shares. Citigroup upped their price target on O-I Glass from $11.00 to $14.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Truist Financial reiterated a "buy" rating and issued a $16.00 target price (up from $13.00) on shares of O-I Glass in a research note on Thursday, May 1st. Royal Bank of Canada restated an "outperform" rating and set a $16.00 price target on shares of O-I Glass in a research report on Monday, March 17th. Finally, Barclays increased their price objective on O-I Glass from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, O-I Glass currently has an average rating of "Moderate Buy" and a consensus price target of $15.88.

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.