22,230 Shares in O-I Glass, Inc. (NYSE:OI) Acquired by Wealthedge Investment Advisors LLC

Wealthedge Investment Advisors LLC purchased a new stake in O-I Glass, Inc. (NYSE:OI - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 22,230 shares of the industrial products company's stock, valued at approximately $241,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Cooper Creek Partners Management LLC raised its position in shares of O-I Glass by 18.2% during the 4th quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company's stock worth $120,132,000 after buying an additional 1,705,216 shares in the last quarter. FMR LLC increased its position in shares of O-I Glass by 6.9% in the fourth quarter. FMR LLC now owns 10,054,398 shares of the industrial products company's stock worth $108,990,000 after acquiring an additional 647,237 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of O-I Glass by 9.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,449,472 shares of the industrial products company's stock worth $80,749,000 after acquiring an additional 617,460 shares in the last quarter. Highland Peak Capital LLC grew its position in O-I Glass by 87.5% during the fourth quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company's stock valued at $42,029,000 after purchasing an additional 1,809,237 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in O-I Glass by 31.5% during the fourth quarter. Segall Bryant & Hamill LLC now owns 3,242,750 shares of the industrial products company's stock valued at $35,151,000 after purchasing an additional 777,036 shares in the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.

O-I Glass Trading Down 0.3%

O-I Glass stock traded down $0.04 during trading hours on Friday, reaching $13.13. 1,302,537 shares of the company's stock traded hands, compared to its average volume of 1,552,964. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. O-I Glass, Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $14.34. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of -18.49, a PEG ratio of 0.24 and a beta of 0.93. The firm's 50 day moving average is $12.11 and its 200-day moving average is $11.68.

O-I Glass (NYSE:OI - Get Free Report) last released its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.22. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the company posted $0.45 EPS. The company's revenue was up .4% compared to the same quarter last year. On average, analysts predict that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Citigroup boosted their price objective on shares of O-I Glass from $11.00 to $14.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Barclays boosted their price objective on shares of O-I Glass from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Truist Financial reiterated a "buy" rating and set a $16.00 target price (up from $13.00) on shares of O-I Glass in a research note on Thursday, May 1st. Wall Street Zen upgraded shares of O-I Glass from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $16.00 price objective on shares of O-I Glass in a research note on Monday, March 17th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.