O-I Glass, Inc. (NYSE:OI) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 456,211 shares of the industrial products company's stock after selling 29,521 shares during the quarter. Rhumbline Advisers owned about 0.29% of O-I Glass worth $5,233,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hourglass Capital LLC boosted its stake in shares of O-I Glass by 105.6% in the fourth quarter. Hourglass Capital LLC now owns 167,450 shares of the industrial products company's stock worth $1,815,000 after buying an additional 86,015 shares during the last quarter. Principal Financial Group Inc. boosted its position in O-I Glass by 2.2% in the 4th quarter. Principal Financial Group Inc. now owns 750,006 shares of the industrial products company's stock worth $8,130,000 after purchasing an additional 15,964 shares in the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of O-I Glass by 3.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 89,224 shares of the industrial products company's stock worth $967,000 after purchasing an additional 3,207 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of O-I Glass by 277.1% during the 4th quarter. Jones Financial Companies Lllp now owns 14,982 shares of the industrial products company's stock valued at $162,000 after purchasing an additional 11,009 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of O-I Glass by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,848,857 shares of the industrial products company's stock valued at $20,042,000 after purchasing an additional 25,719 shares during the period. Institutional investors and hedge funds own 97.24% of the company's stock.

O-I Glass Trading Down 1.3%

Shares of NYSE OI traded down $0.18 during trading on Friday, hitting $13.57. 1,248,056 shares of the company were exchanged, compared to its average volume of 1,549,929. The company has a fifty day moving average price of $12.47 and a 200-day moving average price of $11.72. 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 firm has a market capitalization of $2.10 billion, a PE ratio of -19.11, a P/E/G ratio of 0.24 and a beta of 0.96. O-I Glass, Inc. has a 12-month low of $9.23 and a 12-month high of $14.34.

O-I Glass (NYSE:OI - Get Free Report) last posted its 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 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%. O-I Glass's revenue was up .4% on a year-over-year basis. During the same period in the previous year, the business posted $0.45 EPS. As a group, equities research analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current year.

Analysts Set New Price Targets

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

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.