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

Dimensional Fund Advisors LP raised its holdings in O-I Glass, Inc. (NYSE:OI - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 about 4.82% of O-I Glass worth $80,749,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in OI. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of O-I Glass by 2.2% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 42,900 shares of the industrial products company's stock valued at $465,000 after acquiring an additional 916 shares in the last quarter. Corient Private Wealth LLC increased its position in O-I Glass by 13.4% during the 4th quarter. Corient Private Wealth LLC now owns 16,544 shares of the industrial products company's stock worth $179,000 after purchasing an additional 1,954 shares during the period. Guggenheim Capital LLC raised its stake in shares of O-I Glass by 9.9% during the 4th quarter. Guggenheim Capital LLC now owns 22,777 shares of the industrial products company's stock worth $247,000 after buying an additional 2,044 shares in the last quarter. KBC Group NV lifted its holdings in shares of O-I Glass by 42.5% in the 4th quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock valued at $84,000 after buying an additional 2,309 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its stake in shares of O-I Glass by 3.7% in the fourth quarter. Illinois Municipal Retirement Fund now owns 89,224 shares of the industrial products company's stock valued at $967,000 after buying an additional 3,207 shares in the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OI has been the subject of a number of recent analyst reports. Royal Bank of Canada reissued an "outperform" rating and issued a $16.00 target price on shares of O-I Glass in a report on Monday, March 17th. Wells Fargo & Company reduced their price target on shares of O-I Glass from $18.00 to $16.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. Bank of America upped their price target on O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Citigroup lowered their target price on O-I Glass from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Finally, Truist Financial reaffirmed a "buy" rating and set a $16.00 price target (up previously from $13.00) on shares of O-I Glass in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, O-I Glass presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.50.

O-I Glass Price Performance

OI stock traded up $0.23 during trading on Monday, hitting $13.45. The stock had a trading volume of 162,855 shares, compared to its average volume of 1,568,914. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of -18.94, a price-to-earnings-growth ratio of 0.24 and a beta of 0.93. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. The company's 50 day moving average price is $11.42 and its two-hundred day moving average price is $11.53. O-I Glass, Inc. has a 1-year low of $9.23 and a 1-year high of $14.15.

O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate 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 company's quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 earnings per share. On average, sell-side analysts forecast that O-I Glass, Inc. will post 1.33 EPS for the current fiscal 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.