Access Investment Management LLC Acquires Shares of 250,000 O-I Glass, Inc. (NYSE:OI)

Access Investment Management LLC purchased a new position in O-I Glass, Inc. (NYSE:OI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 250,000 shares of the industrial products company's stock, valued at approximately $4,095,000. O-I Glass makes up 1.5% of Access Investment Management LLC's holdings, making the stock its 22nd largest holding. Access Investment Management LLC owned 0.16% of O-I Glass as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd increased its holdings in O-I Glass by 259.7% in the 3rd quarter. Covestor Ltd now owns 1,669 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 1,205 shares during the last quarter. Signaturefd LLC purchased a new position in O-I Glass during the 3rd quarter valued at approximately $62,000. International Assets Investment Management LLC increased its stake in O-I Glass by 1,538.0% in the 4th quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company's stock worth $67,000 after acquiring an additional 3,845 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 acquiring an additional 2,365 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. bought a new position in shares of O-I Glass during the 4th quarter valued at approximately $186,000. 97.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OI has been the topic of several research reports. TheStreet cut shares of O-I Glass from a "b-" rating to a "c-" rating in a research report on Tuesday, February 6th. Truist Financial restated a "buy" rating and issued a $17.00 target price (down from $20.00) on shares of O-I Glass in a report on Thursday, May 2nd. Royal Bank of Canada lowered their price target on shares of O-I Glass from $25.00 to $21.00 and set an "outperform" rating for the company in a report on Thursday, May 2nd. Barclays reduced their price objective on O-I Glass from $18.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Monday, May 6th. Finally, Bank of America restated a "neutral" rating and set a $16.00 price objective (down from $21.00) on shares of O-I Glass in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, O-I Glass presently has an average rating of "Hold" and a consensus price target of $19.56.

O-I Glass Trading Up 0.2 %

NYSE OI traded up $0.03 during trading on Friday, hitting $13.48. The stock had a trading volume of 924,059 shares, compared to its average volume of 1,861,298. O-I Glass, Inc. has a one year low of $12.40 and a one year high of $23.57. The stock has a 50 day simple moving average of $15.35 and a 200 day simple moving average of $15.48. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -8.48, a P/E/G ratio of 1.37 and a beta of 1.36. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.56 and a current ratio of 1.02.

O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.09. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.69 billion. O-I Glass had a positive return on equity of 18.25% and a negative net margin of 3.45%. O-I Glass's quarterly revenue was down 13.0% compared to the same quarter last year. During the same period last year, the company earned $1.29 EPS. Sell-side analysts predict that O-I Glass, Inc. will post 1.6 earnings per share for the current year.

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.