tru Independence LLC Grows Position in O-I Glass, Inc. (NYSE:OI)

tru Independence LLC grew its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 9.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 353,823 shares of the industrial products company's stock after purchasing an additional 30,125 shares during the period. tru Independence LLC owned about 0.23% of O-I Glass worth $4,058,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of OI. Jones Financial Companies Lllp increased its stake in shares of O-I Glass by 277.1% during the fourth quarter. Jones Financial Companies Lllp now owns 14,982 shares of the industrial products company's stock worth $162,000 after buying an additional 11,009 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of O-I Glass by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,848,857 shares of the industrial products company's stock worth $20,042,000 after buying an additional 25,719 shares during the period. Victory Capital Management Inc. increased its stake in shares of O-I Glass by 57.1% during the fourth quarter. Victory Capital Management Inc. now owns 139,302 shares of the industrial products company's stock worth $1,510,000 after buying an additional 50,641 shares during the period. Amundi increased its stake in shares of O-I Glass by 212.9% during the fourth quarter. Amundi now owns 95,302 shares of the industrial products company's stock worth $996,000 after buying an additional 64,844 shares during the period. Finally, Johnson Investment Counsel Inc. increased its stake in shares of O-I Glass by 21.9% during the fourth quarter. Johnson Investment Counsel Inc. now owns 26,976 shares of the industrial products company's stock worth $292,000 after buying an additional 4,849 shares during the period. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup increased their price target on shares of O-I Glass from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Truist Financial increased their price target on shares of O-I Glass from $16.00 to $21.00 and gave the company a "buy" rating in a research note on Friday. 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. Royal Bank Of Canada reiterated an "outperform" rating and issued a $16.00 price target on shares of O-I Glass in a research note on Monday, March 17th. Finally, BNP Paribas Exane started 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. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, O-I Glass has an average rating of "Moderate Buy" and an average target price of $17.30.

O-I Glass Stock Performance

Shares of NYSE OI traded down $0.10 during mid-day trading on Friday, hitting $15.43. 1,214,524 shares of the company were exchanged, compared to its average volume of 1,523,504. The company has a quick ratio of 0.73, a current ratio of 1.24 and a debt-to-equity ratio of 3.83. The stock has a 50 day simple moving average of $13.99 and a 200-day simple moving average of $12.20. O-I Glass, Inc. has a 1-year low of $9.23 and a 1-year high of $16.04. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of -12.25, a price-to-earnings-growth ratio of 0.32 and a beta of 0.97.

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

About O-I Glass

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.