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

Wealthedge Investment Advisors LLC acquired a new position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 22,230 shares of the industrial products company's stock, valued at approximately $241,000.

Several other hedge funds also recently added to or reduced their stakes in OI. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of O-I Glass by 2.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 42,900 shares of the industrial products company's stock valued at $465,000 after buying an additional 916 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of O-I Glass by 9.6% in the 4th quarter. Baird Financial Group Inc. now owns 16,152 shares of the industrial products company's stock valued at $175,000 after buying an additional 1,410 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of O-I Glass by 13.4% in the 4th quarter. Corient Private Wealth LLC now owns 16,544 shares of the industrial products company's stock valued at $179,000 after buying an additional 1,954 shares during the period. Guggenheim Capital LLC boosted its holdings in shares of O-I Glass by 9.9% in the 4th quarter. Guggenheim Capital LLC now owns 22,777 shares of the industrial products company's stock valued at $247,000 after buying an additional 2,044 shares during the period. Finally, KBC Group NV boosted its holdings in shares of O-I Glass by 42.5% in the 4th quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock valued at $84,000 after buying an additional 2,309 shares during the period. 97.24% of the stock is owned by institutional investors and hedge funds.

O-I Glass Price Performance

Shares of OI stock traded down $0.27 during midday trading on Monday, reaching $12.84. 1,516,017 shares of the company were exchanged, compared to its average volume of 1,554,177. O-I Glass, Inc. has a 12 month low of $9.23 and a 12 month high of $14.34. The company has a market cap of $1.99 billion, a P/E ratio of -18.08, a PEG ratio of 0.24 and a beta of 0.93. The company's 50 day moving average price is $12.12 and its two-hundred day moving average price is $11.66. 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 (NYSE:OI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.40 EPS for the quarter, topping 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 previous year, the firm earned $0.45 EPS. O-I Glass's revenue was up .4% on a year-over-year basis. On average, sell-side analysts expect that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on OI shares. Citigroup lifted their price target 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. Truist Financial reiterated 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. Barclays lifted their price objective on shares of O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a research report 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. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $16.00 price objective on shares of O-I Glass in a research report on Monday, March 17th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.