Federated Hermes Inc. Has $3.97 Million Holdings in O-I Glass, Inc. (NYSE:OI)

Federated Hermes Inc. trimmed its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 59.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,151 shares of the industrial products company's stock after selling 351,232 shares during the period. Federated Hermes Inc. owned approximately 0.16% of O-I Glass worth $3,966,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of OI. Covestor Ltd raised its holdings in O-I Glass by 259.7% during the 3rd quarter. Covestor Ltd now owns 1,669 shares of the industrial products company's stock worth $28,000 after buying an additional 1,205 shares during the period. Signaturefd LLC acquired a new stake in O-I Glass during the 3rd quarter worth approximately $62,000. International Assets Investment Management LLC raised its holdings in O-I Glass by 1,538.0% during the 4th quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company's stock worth $67,000 after buying an additional 3,845 shares during the period. National Bank of Canada FI raised its holdings in O-I Glass by 23.8% during the 3rd quarter. National Bank of Canada FI now owns 10,405 shares of the industrial products company's stock worth $171,000 after buying an additional 2,000 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in O-I Glass by 29.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,289 shares of the industrial products company's stock worth $172,000 after buying an additional 2,365 shares during the period. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OI has been the topic of several research analyst reports. TheStreet downgraded shares of O-I Glass from a "b-" rating to a "c-" rating in a report on Tuesday, February 6th. StockNews.com lowered shares of O-I Glass from a "buy" rating to a "hold" rating in a research report on Thursday, February 15th. Truist Financial reissued a "buy" rating and issued a $20.00 price objective on shares of O-I Glass in a research report on Monday, March 25th. Citigroup lowered shares of O-I Glass from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $17.00 to $18.00 in a research report on Wednesday, January 3rd. Finally, Bank of America reissued a "neutral" rating and issued a $16.00 price objective (down previously from $21.00) on shares of O-I Glass in a research report on Friday, April 19th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, O-I Glass presently has a consensus rating of "Hold" and an average target price of $22.67.

O-I Glass Stock Up 1.5 %

OI traded up $0.22 during trading on Friday, reaching $15.07. 1,097,285 shares of the stock were exchanged, compared to its average volume of 1,444,410. The stock has a market cap of $2.35 billion, a P/E ratio of -20.09, a price-to-earnings-growth ratio of 1.04 and a beta of 1.35. O-I Glass, Inc. has a twelve month low of $13.56 and a twelve month high of $23.57. The stock's 50 day moving average price is $16.00 and its two-hundred day moving average price is $15.61. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.77 and a current ratio of 1.23.

O-I Glass (NYSE:OI - Get Free Report) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.09. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. O-I Glass had a negative net margin of 1.45% and a positive return on equity of 24.90%. The firm's revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 earnings per share. Equities analysts expect that O-I Glass, Inc. will post 2.33 EPS for the current year.

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.