Renaissance Technologies LLC Decreases Holdings in O-I Glass, Inc. (NYSE:OI)

Renaissance Technologies LLC decreased its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 19.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,000 shares of the industrial products company's stock after selling 21,900 shares during the quarter. Renaissance Technologies LLC owned approximately 0.06% of O-I Glass worth $997,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of 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 worth $465,000 after acquiring an additional 916 shares during the period. Corient Private Wealth LLC raised its holdings in 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 purchasing an additional 1,954 shares in the last quarter. KBC Group NV lifted its position in O-I Glass by 42.5% in the fourth quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock valued at $84,000 after purchasing an additional 2,309 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in O-I Glass by 3.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 89,224 shares of the industrial products company's stock valued at $967,000 after purchasing an additional 3,207 shares in the last quarter. Finally, Rhumbline Advisers increased its position in O-I Glass by 0.8% during the 4th quarter. Rhumbline Advisers now owns 485,732 shares of the industrial products company's stock worth $5,265,000 after purchasing an additional 3,980 shares during the period. 97.24% of the stock is owned by institutional investors and hedge funds.

O-I Glass Price Performance

OI stock traded down $0.11 on Tuesday, reaching $13.15. The company had a trading volume of 1,212,573 shares, compared to its average volume of 1,572,307. The company's fifty day moving average is $11.49 and its 200 day moving average is $11.54. The company has a market cap of $2.03 billion, a P/E ratio of -18.51, a PEG ratio of 0.24 and a beta of 0.93. 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, Inc. has a 1 year low of $9.23 and a 1 year high of $14.15.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.22. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the company earned $0.45 earnings per share. The business's revenue for the quarter was up .4% compared to the same quarter last year. On average, research analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

OI has been the subject of several recent analyst reports. Truist Financial reissued a "buy" rating and issued a $16.00 price target (up from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. Citigroup decreased their target price on shares of O-I Glass from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company cut their price target on shares of O-I Glass from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Royal Bank of Canada reissued an "outperform" rating and set a $16.00 price objective on shares of O-I Glass in a report on Monday, March 17th. Finally, Barclays increased their target price on shares of O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Friday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $15.50.

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.