Russell Investments Group Ltd. lowered its position in O-I Glass, Inc. (NYSE:OI – Free Report) by 15.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,538 shares of the industrial products company’s stock after selling 22,527 shares during the quarter. Russell Investments Group Ltd. owned about 0.08% of O-I Glass worth $1,983,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC grew its holdings in shares of O-I Glass by 10.4% in the fourth quarter. SG Americas Securities LLC now owns 94,055 shares of the industrial products company’s stock worth $1,541,000 after purchasing an additional 8,870 shares during the last quarter. Camelot Portfolios LLC bought a new position in shares of O-I Glass in the fourth quarter worth about $213,000. Total Clarity Wealth Management Inc. bought a new position in shares of O-I Glass in the fourth quarter worth about $186,000. International Assets Investment Management LLC grew its holdings in O-I Glass by 1,538.0% during the 4th quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 3,845 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in O-I Glass by 3.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,946 shares of the industrial products company’s stock worth $1,146,000 after acquiring an additional 2,289 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.
O-I Glass Stock Performance
Shares of O-I Glass stock opened at $11.56 on Friday. The firm has a market capitalization of $1.80 billion, a P/E ratio of -7.27, a PEG ratio of 1.07 and a beta of 1.24. The company has a quick ratio of 0.56, a current ratio of 1.02 and a debt-to-equity ratio of 2.26. The company has a 50 day moving average price of $11.63 and a 200 day moving average price of $14.13. O-I Glass, Inc. has a 52 week low of $10.08 and a 52 week high of $23.49.
O-I Glass (NYSE:OI – Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.36 by $0.09. O-I Glass had a negative net margin of 3.45% and a positive return on equity of 18.25%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period last year, the firm posted $1.29 EPS. O-I Glass’s revenue was down 13.0% on a year-over-year basis. Sell-side analysts expect that O-I Glass, Inc. will post 1.71 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on OI shares. Barclays dropped their target price on shares of O-I Glass from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, May 6th. Robert W. Baird dropped their target price on shares of O-I Glass from $28.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. Citigroup dropped their target price on shares of O-I Glass from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, July 8th. UBS Group dropped their target price on shares of O-I Glass from $26.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, Bank of America reissued a “neutral” rating and set a $16.00 price target (down from $21.00) on shares of O-I Glass in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, O-I Glass has a consensus rating of “Hold” and an average price target of $17.89.
Check Out Our Latest Research Report on OI
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.
See Also
Receive News & Ratings for O-I Glass Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for O-I Glass and related companies with MarketBeat.com’s FREE daily email newsletter.
