Teacher Retirement System of Texas Makes New Investment in O-I Glass, Inc. (NYSE:OI)

Teacher Retirement System of Texas bought a new stake in O-I Glass, Inc. (NYSE:OI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,616 shares of the industrial products company's stock, valued at approximately $259,000.

Several other institutional investors have also added to or reduced their stakes in the business. Cooper Creek Partners Management LLC increased its stake in shares of O-I Glass by 18.2% during the fourth quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company's stock valued at $120,132,000 after purchasing an additional 1,705,216 shares in the last quarter. Millennium Management LLC grew its position in O-I Glass by 251.7% in the 4th quarter. Millennium Management LLC now owns 1,458,102 shares of the industrial products company's stock worth $15,806,000 after purchasing an additional 1,043,570 shares during the period. Mesirow Institutional Investment Management Inc. bought a new stake in O-I Glass in the 4th quarter worth approximately $10,885,000. Boothbay Fund Management LLC grew its position in O-I Glass by 213.3% in the 4th quarter. Boothbay Fund Management LLC now owns 1,218,593 shares of the industrial products company's stock worth $13,210,000 after purchasing an additional 829,662 shares during the period. Finally, Segall Bryant & Hamill LLC grew its position in shares of O-I Glass by 31.5% during the 4th quarter. Segall Bryant & Hamill LLC now owns 3,242,750 shares of the industrial products company's stock valued at $35,151,000 after acquiring an additional 777,036 shares during the period. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OI has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of O-I Glass from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. BNP Paribas Exane assumed coverage on shares of O-I Glass in a research note on Wednesday, June 25th. They issued an "outperform" rating and a $18.00 price target on the stock. Truist Financial set a $21.00 price target on shares of O-I Glass and gave the stock a "buy" rating in a research note on Friday, July 11th. BNP Paribas set a $18.00 target price on shares of O-I Glass in a research report on Wednesday, June 25th. Finally, Citigroup upped their target price on shares of O-I Glass from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $17.20.

O-I Glass Stock Down 1.4%

NYSE:OI traded down $0.20 during midday trading on Friday, hitting $14.32. 1,135,667 shares of the company were exchanged, compared to its average volume of 1,518,180. 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 current ratio of 1.24, a quick ratio of 0.73 and a debt-to-equity ratio of 3.83. The company has a market capitalization of $2.22 billion, a PE ratio of -11.37, a price-to-earnings-growth ratio of 0.29 and a beta of 0.97. The company has a fifty day simple moving average of $14.14 and a 200 day simple moving average of $12.35.

O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.18 by $0.22. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.55 billion. O-I Glass had a negative net margin of 2.98% and a positive return on equity of 8.48%. O-I Glass's revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 earnings per share. As a group, equities analysts anticipate that O-I Glass, Inc. will post 1.33 earnings per share 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.