Vanguard Group Inc. trimmed its stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,255,394 shares of the industrial products company's stock after selling 447,720 shares during the quarter. Vanguard Group Inc. owned 12.44% of O-I Glass worth $322,143,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in shares of O-I Glass by 7.8% in the 3rd quarter. American Century Companies Inc. now owns 1,672,400 shares of the industrial products company's stock worth $27,979,000 after purchasing an additional 121,495 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of O-I Glass in the 3rd quarter worth approximately $917,000. Comerica Bank bought a new position in shares of O-I Glass in the 3rd quarter worth approximately $1,345,000. Diversified Trust Co raised its position in shares of O-I Glass by 247.0% in the 3rd quarter. Diversified Trust Co now owns 37,906 shares of the industrial products company's stock worth $634,000 after acquiring an additional 26,983 shares in the last quarter. Finally, Tudor Investment Corp Et Al bought a new position in shares of O-I Glass in the 3rd quarter worth approximately $1,359,000. 97.24% of the stock is currently owned by institutional investors.
O-I Glass Stock Up 2.5 %
OI traded up $0.40 during trading on Thursday, hitting $16.59. 1,757,839 shares of the company's stock traded hands, compared to its average volume of 1,703,082. The company's 50 day simple moving average is $15.92 and its two-hundred day simple moving average is $15.84. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 2.69. O-I Glass, Inc. has a 12-month low of $13.56 and a 12-month high of $23.57. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -22.12, a PEG ratio of 1.07 and a beta of 1.35.
O-I Glass (NYSE:OI - Get Free Report) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.03 by $0.09. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the business posted $0.38 EPS. The company's revenue was down 3.1% compared to the same quarter last year. Analysts predict that O-I Glass, Inc. will post 2.38 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
OI has been the topic of several recent research reports. StockNews.com downgraded O-I Glass from a "buy" rating to a "hold" rating in a research note on Thursday, February 15th. TheStreet downgraded O-I Glass from a "b-" rating to a "c-" rating in a research note on Tuesday, February 6th. Citigroup downgraded O-I Glass from a "buy" rating to a "neutral" rating and upped their price target for the stock from $17.00 to $18.00 in a research note on Wednesday, January 3rd. Truist Financial restated a "buy" rating and issued a $20.00 price target on shares of O-I Glass in a research note on Monday. Finally, UBS Group initiated coverage on O-I Glass in a research note on Tuesday, January 16th. They issued a "buy" rating and a $26.00 price target on the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, O-I Glass presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.
Read Our Latest Stock Report on O-I Glass
O-I Glass Profile
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Free Report)
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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