Northern Trust Corp Increases Stock Holdings in O-I Glass, Inc. (NYSE:OI)

Northern Trust Corp lifted its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,738,277 shares of the industrial products company's stock after purchasing an additional 135,989 shares during the period. Northern Trust Corp owned about 1.12% of O-I Glass worth $18,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in OI. Highland Peak Capital LLC lifted its stake in shares of O-I Glass by 87.5% in the 4th 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 during the period. Cooper Creek Partners Management LLC raised its position in O-I Glass by 18.2% during the fourth quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company's stock worth $120,132,000 after acquiring an additional 1,705,216 shares during the period. Mesirow Institutional Investment Management Inc. acquired a new position in O-I Glass during the fourth quarter worth $10,885,000. Boothbay Fund Management LLC raised its position in O-I Glass by 213.3% during the fourth quarter. Boothbay Fund Management LLC now owns 1,218,593 shares of the industrial products company's stock worth $13,210,000 after acquiring an additional 829,662 shares during the period. Finally, Segall Bryant & Hamill LLC raised 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 worth $35,151,000 after acquiring an additional 777,036 shares during the period. 97.24% of the stock is currently owned by institutional investors and hedge funds.

O-I Glass Price Performance

Shares of O-I Glass stock traded up $0.27 during trading hours on Monday, reaching $13.54. 1,326,268 shares of the company's stock were exchanged, compared to its average volume of 1,572,321. O-I Glass, Inc. has a 1 year low of $9.23 and a 1 year high of $14.34. The company has a market capitalization of $2.09 billion, a P/E ratio of -19.07, a price-to-earnings-growth ratio of 0.24 and a beta of 0.93. The business has a fifty day moving average of $11.86 and a two-hundred day moving average of $11.62. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78.

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, 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 business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The company's revenue for the quarter was up .4% compared to the same quarter last year. As a group, research analysts predict that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Royal Bank of Canada restated an "outperform" rating and set a $16.00 price objective on shares of O-I Glass in a research report on Monday, March 17th. Truist Financial restated a "buy" rating and set a $16.00 price objective (up from $13.00) on shares of O-I Glass in a research report on Thursday, May 1st. Barclays upped 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 report on Friday, May 2nd. Finally, Citigroup upped their price objective on shares of O-I Glass from $11.00 to $14.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, O-I Glass currently has an average rating of "Moderate Buy" and a consensus target price of $15.88.

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.