O-I Glass, Inc. (NYSE:OI) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN increased its holdings in O-I Glass, Inc. (NYSE:OI - Free Report) by 21.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,923 shares of the industrial products company's stock after purchasing an additional 31,158 shares during the quarter. Wells Fargo & Company MN owned 0.11% of O-I Glass worth $1,907,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Barclays PLC grew its holdings in O-I Glass by 349.3% during the 3rd quarter. Barclays PLC now owns 261,161 shares of the industrial products company's stock worth $3,427,000 after acquiring an additional 203,037 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of O-I Glass during the 3rd quarter worth about $263,000. JPMorgan Chase & Co. raised its position in shares of O-I Glass by 18.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company's stock valued at $8,130,000 after acquiring an additional 94,671 shares during the period. Diversified Trust Co lifted its holdings in O-I Glass by 10.0% during the fourth quarter. Diversified Trust Co now owns 54,551 shares of the industrial products company's stock worth $591,000 after acquiring an additional 4,955 shares in the last quarter. Finally, Moody National Bank Trust Division raised its position in O-I Glass by 35.6% during the fourth quarter. Moody National Bank Trust Division now owns 103,343 shares of the industrial products company's stock worth $1,120,000 after acquiring an additional 27,159 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on OI shares. Royal Bank of Canada restated an "outperform" rating and issued a $16.00 price target on shares of O-I Glass in a research note on Monday, March 17th. Bank of America upped their price target on shares of O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Wells Fargo & Company cut their price objective on O-I Glass from $18.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Truist Financial dropped their price objective on shares of O-I Glass from $15.00 to $13.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Citigroup decreased their price objective on O-I Glass from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, O-I Glass presently has an average rating of "Moderate Buy" and an average target price of $15.00.

O-I Glass Stock Up 3.7 %

Shares of O-I Glass stock traded up $0.46 during midday trading on Thursday, hitting $13.12. The company had a trading volume of 233,648 shares, compared to its average volume of 1,603,888. The company has a 50 day moving average of $11.35 and a 200 day moving average of $11.54. The stock has a market capitalization of $2.03 billion, a P/E ratio of -18.49, a P/E/G ratio of 0.24 and a beta of 0.98. O-I Glass, Inc. has a 52-week low of $9.23 and a 52-week high of $14.15. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15.

O-I Glass (NYSE:OI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The business's revenue was up .4% on a year-over-year basis. On average, equities analysts predict that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

O-I Glass 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.