Invesco Ltd. Increases Stake in O-I Glass, Inc. (NYSE:OI)

Invesco Ltd. grew its stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 21.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,260,478 shares of the industrial products company's stock after buying an additional 221,368 shares during the period. Invesco Ltd. owned 0.82% of O-I Glass worth $13,664,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC lifted its position in shares of O-I Glass by 349.3% in the third quarter. Barclays PLC now owns 261,161 shares of the industrial products company's stock worth $3,427,000 after buying an additional 203,037 shares in the last quarter. Geode Capital Management LLC increased its stake in O-I Glass by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company's stock worth $46,827,000 after acquiring an additional 37,238 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of O-I Glass during the 3rd quarter worth approximately $263,000. JPMorgan Chase & Co. boosted its position in shares of O-I Glass by 18.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company's stock valued at $8,130,000 after acquiring an additional 94,671 shares during the last quarter. Finally, Diversified Trust Co grew its holdings in shares of O-I Glass by 10.0% in the fourth quarter. Diversified Trust Co now owns 54,551 shares of the industrial products company's stock valued at $591,000 after purchasing an additional 4,955 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors.

O-I Glass Price Performance

Shares of O-I Glass stock remained flat at $11.93 during mid-day trading on Friday. 1,412,030 shares of the stock traded hands, compared to its average volume of 1,608,817. The firm's 50-day simple moving average is $11.30 and its 200-day simple moving average is $11.56. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -16.80, a P/E/G ratio of 0.24 and a beta of 0.98. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78. O-I Glass, Inc. has a twelve month low of $9.23 and a twelve month high of $15.72.

O-I Glass (NYSE:OI - Get Free Report) last posted its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. Sell-side analysts expect that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on OI. Bank of America increased their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Truist Financial lowered their price target on O-I Glass from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Tuesday. 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. Wells Fargo & Company cut their target price on O-I Glass from $18.00 to $16.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. Finally, Citigroup decreased their price objective on shares of O-I Glass from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, O-I Glass presently has an average rating of "Moderate Buy" and an average target price of $15.00.

O-I Glass Company 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.