Panagora Asset Management Inc. Raises Stock Holdings in O-I Glass, Inc. (NYSE:OI)

Panagora Asset Management Inc. increased its stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 32.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 530,440 shares of the industrial products company's stock after purchasing an additional 128,474 shares during the period. Panagora Asset Management Inc. owned 0.34% of O-I Glass worth $8,689,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in O-I Glass by 12.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,615,054 shares of the industrial products company's stock valued at $108,358,000 after buying an additional 728,493 shares during the period. Cooper Creek Partners Management LLC grew its position in O-I Glass by 39.6% during the 3rd quarter. Cooper Creek Partners Management LLC now owns 2,200,187 shares of the industrial products company's stock worth $36,809,000 after purchasing an additional 623,705 shares during the last quarter. Luminus Management LLC boosted its holdings in shares of O-I Glass by 69.4% in the third quarter. Luminus Management LLC now owns 2,140,678 shares of the industrial products company's stock valued at $35,814,000 after acquiring an additional 877,172 shares in the last quarter. Private Management Group Inc. boosted its holdings in shares of O-I Glass by 0.7% in the fourth quarter. Private Management Group Inc. now owns 2,051,886 shares of the industrial products company's stock valued at $33,610,000 after acquiring an additional 14,018 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in O-I Glass by 132.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,002,867 shares of the industrial products company's stock worth $32,807,000 after buying an additional 1,141,680 shares in the last quarter. Institutional investors and hedge funds own 97.24% of the company's stock.

O-I Glass Stock Performance

Shares of OI traded down $0.43 during trading hours on Friday, hitting $13.29. The company had a trading volume of 1,649,137 shares, compared to its average volume of 1,892,456. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -8.36, a PEG ratio of 1.34 and a beta of 1.36. The business has a fifty day moving average of $15.06 and a 200-day moving average of $15.43. O-I Glass, Inc. has a 12 month low of $12.40 and a 12 month high of $23.57. The company has a quick ratio of 0.56, a current ratio of 1.02 and a debt-to-equity ratio of 2.26.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.09. O-I Glass had a negative net margin of 3.45% and a positive return on equity of 18.25%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period last year, the firm earned $1.29 earnings per share. O-I Glass's revenue for the quarter was down 13.0% compared to the same quarter last year. Equities analysts anticipate that O-I Glass, Inc. will post 1.67 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on OI shares. Robert W. Baird cut their target price on shares of O-I Glass from $28.00 to $22.00 and set an "outperform" rating for the company in a research report on Thursday, May 2nd. Wells Fargo & Company decreased their price objective on shares of O-I Glass from $22.00 to $19.00 and set an "overweight" rating for the company in a research note on Thursday, May 2nd. 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 research note on Thursday, May 2nd. Barclays cut their price target on shares of O-I Glass from $18.00 to $15.00 and set an "equal weight" rating on the stock in a report on Monday, May 6th. Finally, StockNews.com cut shares of O-I Glass from a "hold" rating to a "sell" rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $19.56.

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.