Teacher Retirement System of Texas Acquires 148,418 Shares of O-I Glass, Inc. (NYSE:OI)

Teacher Retirement System of Texas increased its holdings in O-I Glass, Inc. (NYSE:OIFree Report) by 143.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 251,581 shares of the industrial products company’s stock after buying an additional 148,418 shares during the period. Teacher Retirement System of Texas owned about 0.16% of O-I Glass worth $4,121,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of OI. Covestor Ltd boosted its stake in O-I Glass by 259.7% in the third quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 1,205 shares in the last quarter. Signaturefd LLC acquired a new stake in shares of O-I Glass in the 3rd quarter worth $62,000. International Assets Investment Management LLC grew its stake 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 buying an additional 3,845 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in O-I Glass by 29.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,289 shares of the industrial products company’s stock worth $172,000 after buying an additional 2,365 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. acquired a new position in O-I Glass during the 4th quarter valued at about $186,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Price Performance

Shares of OI opened at $13.94 on Wednesday. The business’s 50-day moving average is $15.23 and its two-hundred day moving average is $15.47. O-I Glass, Inc. has a fifty-two week low of $12.40 and a fifty-two week high of $23.57. The company has a quick ratio of 0.56, a current ratio of 1.02 and a debt-to-equity ratio of 2.26.

O-I Glass (NYSE:OIGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.09. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.69 billion. O-I Glass had a positive return on equity of 18.25% and a negative net margin of 3.45%. O-I Glass’s quarterly revenue was down 13.0% on a year-over-year basis. During the same period last year, the business earned $1.29 earnings per share. On average, sell-side analysts forecast that O-I Glass, Inc. will post 1.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OI. Bank of America restated a “neutral” rating and set a $16.00 price target (down previously from $21.00) on shares of O-I Glass in a research note on Friday, April 19th. 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 research report on Monday, May 6th. Robert W. Baird decreased their price target on shares of O-I Glass from $28.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. StockNews.com lowered shares of O-I Glass from a “hold” rating to a “sell” rating in a report on Thursday, May 2nd. Finally, TheStreet downgraded O-I Glass from a “b-” rating to a “c-” rating in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $19.56.

View Our Latest Research Report on O-I Glass

About O-I Glass

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for O-I Glass (NYSE:OI)

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