Stifel Financial Corp Reduces Stake in O-I Glass, Inc. (NYSE:OI)

Stifel Financial Corp reduced its stake in O-I Glass, Inc. (NYSE:OI - Free Report) by 14.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 213,719 shares of the industrial products company's stock after selling 37,005 shares during the quarter. Stifel Financial Corp owned approximately 0.14% of O-I Glass worth $2,317,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OI. R Squared Ltd bought a new stake in shares of O-I Glass during the 4th quarter valued at about $45,000. Sterling Capital Management LLC raised its position in shares of O-I Glass by 807.2% in the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock worth $53,000 after acquiring an additional 4,343 shares in the last quarter. KBC Group NV increased its position in O-I Glass by 42.5% during the 4th quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock valued at $84,000 after buying an additional 2,309 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of O-I Glass during the fourth quarter valued at approximately $86,000. Finally, Jones Financial Companies Lllp boosted its position in shares of O-I Glass by 277.1% during the fourth quarter. Jones Financial Companies Lllp now owns 14,982 shares of the industrial products company's stock valued at $162,000 after buying an additional 11,009 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company's stock.

Analyst Upgrades and Downgrades

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

O-I Glass Stock Performance

Shares of NYSE OI traded up $0.34 during midday trading on Friday, reaching $13.43. The company had a trading volume of 1,145,586 shares, compared to its average volume of 1,577,939. The business's 50-day simple moving average is $11.62 and its 200 day simple moving average is $11.55. The stock has a market cap of $2.08 billion, a P/E ratio of -18.92, 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 $14.15. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78.

O-I Glass (NYSE:OI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) 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 business posted $0.45 EPS. The business's revenue was up .4% compared to the same quarter last year. On average, analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

O-I Glass Company 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.