Bank of New York Mellon Corp Has $11.69 Million Stake in O-I Glass, Inc. (NYSE:OI)

Bank of New York Mellon Corp decreased its holdings in O-I Glass, Inc. (NYSE:OI - Free Report) by 4.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,019,565 shares of the industrial products company's stock after selling 52,533 shares during the period. Bank of New York Mellon Corp owned about 0.66% of O-I Glass worth $11,694,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Principal Financial Group Inc. grew its position in shares of O-I Glass by 2.3% in the first quarter. Principal Financial Group Inc. now owns 767,260 shares of the industrial products company's stock valued at $8,800,000 after purchasing an additional 17,254 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of O-I Glass in the first quarter valued at approximately $259,000. Allspring Global Investments Holdings LLC grew its position in shares of O-I Glass by 53.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 40,037 shares of the industrial products company's stock valued at $466,000 after purchasing an additional 13,983 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of O-I Glass by 44.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,444 shares of the industrial products company's stock valued at $189,000 after purchasing an additional 5,053 shares during the last quarter. Finally, SummerHaven Investment Management LLC grew its position in shares of O-I Glass by 1.6% in the first quarter. SummerHaven Investment Management LLC now owns 75,226 shares of the industrial products company's stock valued at $863,000 after purchasing an additional 1,204 shares during the last quarter. Institutional investors own 97.24% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on OI shares. Truist Financial set a $21.00 target price on O-I Glass and gave the company a "buy" rating in a research report on Friday, July 11th. BNP Paribas set a $18.00 price target on O-I Glass in a research report on Wednesday, June 25th. BNP Paribas Exane began coverage on O-I Glass in a research report on Wednesday, June 25th. They set an "outperform" rating and a $18.00 price target on the stock. Bank of America reissued a "neutral" rating and set a $17.00 price target (up previously from $15.00) on shares of O-I Glass in a research report on Wednesday, July 9th. Finally, Citigroup increased their price target on O-I Glass from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, O-I Glass currently has an average rating of "Moderate Buy" and an average price target of $17.20.

O-I Glass Price Performance

Shares of OI stock traded down $0.30 during trading hours on Thursday, reaching $14.65. The company's stock had a trading volume of 1,103,926 shares, compared to its average volume of 1,523,987. The firm's 50 day simple moving average is $14.21 and its 200-day simple moving average is $12.45. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of -11.62, a PEG ratio of 0.30 and a beta of 0.97. O-I Glass, Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $16.04. The company has a quick ratio of 0.73, a current ratio of 1.24 and a debt-to-equity ratio of 3.83.

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 for the quarter, beating analysts' consensus estimates of $0.18 by $0.22. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.55 billion. O-I Glass had a positive return on equity of 8.48% and a negative net margin of 2.98%. The company's revenue was up .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 EPS. Sell-side analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

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.