Vanguard Group Inc. Sells 447,720 Shares of O-I Glass, Inc. (NYSE:OI)

Vanguard Group Inc. trimmed its position in shares of O-I Glass, Inc. (NYSE:OI) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,255,394 shares of the industrial products company’s stock after selling 447,720 shares during the period. Vanguard Group Inc. owned about 12.44% of O-I Glass worth $322,143,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Alberta Investment Management Corp grew its stake in O-I Glass by 152.3% in the 2nd quarter. Alberta Investment Management Corp now owns 159,814 shares of the industrial products company’s stock worth $3,409,000 after acquiring an additional 96,480 shares in the last quarter. Van ECK Associates Corp grew its stake in O-I Glass by 414.2% in the 3rd quarter. Van ECK Associates Corp now owns 129,826 shares of the industrial products company’s stock worth $2,172,000 after acquiring an additional 104,576 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new position in O-I Glass in the 3rd quarter worth about $1,757,000. New York State Common Retirement Fund grew its stake in O-I Glass by 14.4% in the 3rd quarter. New York State Common Retirement Fund now owns 523,860 shares of the industrial products company’s stock worth $8,764,000 after acquiring an additional 65,835 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in O-I Glass by 7.8% in the 3rd quarter. American Century Companies Inc. now owns 1,672,400 shares of the industrial products company’s stock worth $27,979,000 after acquiring an additional 121,495 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on OI shares. TheStreet downgraded shares of O-I Glass from a “b-” rating to a “c-” rating in a research note on Tuesday, February 6th. Citigroup downgraded shares of O-I Glass from a “buy” rating to a “neutral” rating and increased their price objective for the company from $17.00 to $18.00 in a research note on Wednesday, January 3rd. Truist Financial reiterated a “buy” rating and set a $20.00 price objective on shares of O-I Glass in a research note on Monday. Barclays increased their price objective on shares of O-I Glass from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 13th. Finally, StockNews.com downgraded shares of O-I Glass from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

O-I Glass Trading Up 3.7 %

NYSE:OI opened at $16.19 on Thursday. O-I Glass, Inc. has a 52 week low of $13.56 and a 52 week high of $23.57. The firm has a 50 day moving average of $15.88 and a 200 day moving average of $15.84. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 2.69. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of -21.59, a PEG ratio of 1.06 and a beta of 1.35.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. O-I Glass had a negative net margin of 1.45% and a positive return on equity of 24.90%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company posted $0.38 earnings per share. As a group, sell-side analysts anticipate that O-I Glass, Inc. will post 2.38 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.