First Trust Advisors LP Sells 95,028 Shares of O-I Glass, Inc. (NYSE:OI)

First Trust Advisors LP lessened its position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 46.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 110,365 shares of the industrial products company's stock after selling 95,028 shares during the quarter. First Trust Advisors LP owned 0.07% of O-I Glass worth $1,196,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp lifted its stake in O-I Glass by 2.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 42,900 shares of the industrial products company's stock valued at $465,000 after purchasing an additional 916 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of O-I Glass by 13.4% during the fourth quarter. Corient Private Wealth LLC now owns 16,544 shares of the industrial products company's stock worth $179,000 after buying an additional 1,954 shares during the period. Guggenheim Capital LLC increased its position in shares of O-I Glass by 9.9% during the fourth quarter. Guggenheim Capital LLC now owns 22,777 shares of the industrial products company's stock worth $247,000 after buying an additional 2,044 shares during the period. KBC Group NV increased its position in shares of O-I Glass by 42.5% during the fourth quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock worth $84,000 after buying an additional 2,309 shares during the period. Finally, Illinois Municipal Retirement Fund grew its position in shares of O-I Glass by 3.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 89,224 shares of the industrial products company's stock worth $967,000 after buying an additional 3,207 shares during the period. Hedge funds and other institutional investors own 97.24% of the company's stock.

O-I Glass Stock Performance

Shares of OI traded up $0.11 during mid-day trading on Tuesday, hitting $13.90. 146,972 shares of the company traded hands, compared to its average volume of 1,574,624. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. The stock has a 50-day moving average price of $11.66 and a two-hundred day moving average price of $11.56. O-I Glass, Inc. has a 1 year low of $9.23 and a 1 year high of $14.34. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of -19.58, a P/E/G ratio of 0.24 and a beta of 0.93.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $1.55 billion. During the same period in the previous year, the company earned $0.45 earnings per share. The firm's quarterly revenue was up .4% on a year-over-year basis. Equities analysts anticipate that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on OI shares. Truist Financial restated a "buy" rating and set a $16.00 price objective (up from $13.00) on shares of O-I Glass in a research note on Thursday, May 1st. Royal Bank of Canada reissued an "outperform" rating and issued a $16.00 price target on shares of O-I Glass in a research report on Monday, March 17th. Barclays boosted their price target on shares of O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Finally, Citigroup upped their target price on shares of O-I Glass from $11.00 to $14.00 and gave the stock a "neutral" rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.88.

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.