Assenagon Asset Management S.A. Sells 1,078,213 Shares of O-I Glass, Inc. (NYSE:OI)

Assenagon Asset Management S.A. decreased its holdings in O-I Glass, Inc. (NYSE:OI - Free Report) by 76.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 323,187 shares of the industrial products company's stock after selling 1,078,213 shares during the period. Assenagon Asset Management S.A. owned approximately 0.21% of O-I Glass worth $3,707,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in OI. GAMMA Investing LLC boosted its position in O-I Glass by 79.3% during the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock valued at $30,000 after buying an additional 1,142 shares during the period. Sterling Capital Management LLC raised its stake in shares of O-I Glass by 807.2% during the fourth quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 4,343 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of O-I Glass during the fourth quarter worth about $86,000. Point72 Asset Management L.P. bought a new stake in shares of O-I Glass in the fourth quarter worth about $89,000. Finally, Point72 Hong Kong Ltd purchased a new position in O-I Glass during the 4th quarter valued at about $106,000. Hedge funds and other institutional investors own 97.24% of the company's stock.

O-I Glass Stock Up 1.7%

OI stock traded up $0.24 on Monday, reaching $13.80. 871,767 shares of the company traded hands, compared to its average volume of 1,542,778. The firm has a fifty day simple moving average of $12.55 and a 200-day simple moving average of $11.71. The company has a market cap of $2.13 billion, a P/E ratio of -19.43, a price-to-earnings-growth ratio of 0.24 and a beta of 0.96. O-I Glass, Inc. has a one year low of $9.23 and a one year high of $14.34. The company has a debt-to-equity ratio of 3.78, a current ratio of 1.15 and a quick ratio of 0.70.

O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.22. The company had revenue of $1.57 billion during 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 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 earnings per share. Research analysts anticipate that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Truist Financial restated a "buy" rating and set a $16.00 target price (up previously from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. Barclays raised their target price on shares of 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. Wall Street Zen upgraded shares of O-I Glass from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Citigroup raised their price objective on shares of O-I Glass from $11.00 to $14.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $16.00 target price on shares of O-I Glass in a report on Monday, March 17th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.