tru Independence LLC Increases Holdings 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 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 353,823 shares of the industrial products company's stock after buying an additional 30,125 shares during the quarter. tru Independence LLC owned 0.23% of O-I Glass worth $4,058,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Sei Investments Co. raised its position in shares of O-I Glass by 112.8% during the 4th quarter. Sei Investments Co. now owns 93,174 shares of the industrial products company's stock valued at $1,010,000 after buying an additional 49,383 shares in the last quarter. SG Americas Securities LLC raised its position in shares of O-I Glass by 117.7% during the 1st quarter. SG Americas Securities LLC now owns 45,766 shares of the industrial products company's stock valued at $525,000 after buying an additional 24,743 shares in the last quarter. Victory Capital Management Inc. raised its position in O-I Glass by 57.1% in the 4th quarter. Victory Capital Management Inc. now owns 139,302 shares of the industrial products company's stock worth $1,510,000 after purchasing an additional 50,641 shares during the period. Northern Trust Corp raised its position in O-I Glass by 8.5% in the 4th quarter. Northern Trust Corp now owns 1,738,277 shares of the industrial products company's stock worth $18,843,000 after purchasing an additional 135,989 shares during the period. Finally, Amundi raised its position in O-I Glass by 212.9% in the 4th quarter. Amundi now owns 95,302 shares of the industrial products company's stock worth $996,000 after purchasing an additional 64,844 shares during the period. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

O-I Glass Price Performance

Shares of OI opened at $15.57 on Thursday. The company has a market cap of $2.41 billion, a price-to-earnings ratio of -12.36, a price-to-earnings-growth ratio of 0.32 and a beta of 0.97. O-I Glass, Inc. has a twelve month low of $9.23 and a twelve month 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. The company has a 50 day moving average of $13.89 and a two-hundred day moving average of $12.12.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial reissued a "buy" rating and issued a $16.00 price objective (up from $13.00) on shares of O-I Glass in a research report on Thursday, May 1st. UBS Group reissued a "buy" rating and issued a $19.00 price objective (up from $17.00) on shares of O-I Glass in a research report on Wednesday. Wall Street Zen raised shares of O-I Glass from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. BNP Paribas set a $18.00 price objective on shares of O-I Glass in a research report on Wednesday, June 25th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $16.00 price objective on shares of O-I Glass in a research report on Monday, March 17th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $16.80.

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.

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