Schonfeld Strategic Advisors LLC Sells 605,405 Shares of O-I Glass, Inc. (NYSE:OI)

Schonfeld Strategic Advisors LLC trimmed its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 90.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,596 shares of the industrial products company's stock after selling 605,405 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in O-I Glass were worth $711,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of O-I Glass by 2.2% during 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 acquiring an additional 916 shares during the period. Corient Private Wealth LLC lifted its position 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 buying an additional 1,954 shares during the period. Guggenheim Capital LLC increased its holdings in O-I Glass by 9.9% in the 4th quarter. Guggenheim Capital LLC now owns 22,777 shares of the industrial products company's stock valued at $247,000 after purchasing an additional 2,044 shares in the last quarter. KBC Group NV lifted its position in shares of O-I Glass by 42.5% in the 4th 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 last quarter. Finally, Illinois Municipal Retirement Fund raised its holdings in O-I Glass by 3.7% during the fourth quarter. Illinois Municipal Retirement Fund now owns 89,224 shares of the industrial products company's stock worth $967,000 after purchasing an additional 3,207 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company's stock.

O-I Glass Price Performance

O-I Glass stock traded down $0.08 during trading hours on Thursday, hitting $13.66. 210,603 shares of the company traded hands, compared to its average volume of 1,569,127. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. The firm has a market cap of $2.11 billion, a P/E ratio of -19.23, a P/E/G ratio of 0.24 and a beta of 0.93. O-I Glass, Inc. has a 1-year low of $9.23 and a 1-year high of $14.34. The firm's 50-day simple moving average is $11.74 and its two-hundred day simple moving average is $11.59.

O-I Glass (NYSE:OI - Get Free Report) last released its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.22. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.55 billion. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. The firm's quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 earnings per share. As a group, analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OI. Truist Financial restated a "buy" rating and set a $16.00 price objective (up previously from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. Citigroup raised their price target on O-I Glass from $11.00 to $14.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Barclays increased their price objective on shares of O-I Glass from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $16.00 target price on shares of O-I Glass in a research report on Monday, March 17th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.