Dimensional Fund Advisors LP Grows Position in O-I Glass, Inc. (NYSE:OI)

Dimensional Fund Advisors LP increased its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 9.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,449,472 shares of the industrial products company's stock after purchasing an additional 617,460 shares during the quarter. Dimensional Fund Advisors LP owned 4.82% of O-I Glass worth $80,749,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of OI. Barclays PLC grew its stake in shares of O-I Glass by 349.3% in the third quarter. Barclays PLC now owns 261,161 shares of the industrial products company's stock valued at $3,427,000 after buying an additional 203,037 shares in the last quarter. JPMorgan Chase & Co. grew its position in O-I Glass by 18.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company's stock valued at $8,130,000 after acquiring an additional 94,671 shares in the last quarter. Diversified Trust Co increased its stake in O-I Glass by 10.0% during the fourth quarter. Diversified Trust Co now owns 54,551 shares of the industrial products company's stock worth $591,000 after purchasing an additional 4,955 shares during the period. Moody National Bank Trust Division lifted its position in shares of O-I Glass by 35.6% during the fourth quarter. Moody National Bank Trust Division now owns 103,343 shares of the industrial products company's stock worth $1,120,000 after purchasing an additional 27,159 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of O-I Glass by 111.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,401,400 shares of the industrial products company's stock valued at $15,191,000 after purchasing an additional 737,123 shares during the period. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

O-I Glass Price Performance

OI stock opened at $12.14 on Wednesday. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -17.10, a PEG ratio of 0.24 and a beta of 0.98. O-I Glass, Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $15.62. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. The business has a 50 day moving average price of $11.32 and a 200 day moving average price of $11.54.

O-I Glass (NYSE:OI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.22. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. The business had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.55 billion. During the same quarter in the prior year, the business posted $0.45 EPS. The company's revenue for the quarter was up .4% on a year-over-year basis. Equities research analysts anticipate that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on OI. Wells Fargo & Company reduced their target price on shares of O-I Glass from $18.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Royal Bank of Canada reiterated an "outperform" rating and issued a $16.00 price objective on shares of O-I Glass in a research note on Monday, March 17th. Citigroup decreased their target price on O-I Glass from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Truist Financial cut their price target on O-I Glass from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Bank of America lifted their price objective on O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Three 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.com, the company has an average rating of "Moderate Buy" and an average price target of $15.00.

O-I Glass Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.