Federated Hermes Inc. Has $1.06 Million Stock Position in O-I Glass, Inc. (NYSE:OI)

Federated Hermes Inc. lessened its stake in shares of O-I Glass, Inc. (NYSE:OI) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,511 shares of the industrial products company’s stock after selling 3,060 shares during the quarter. Federated Hermes Inc. owned about 0.06% of O-I Glass worth $1,057,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in OI. R Squared Ltd acquired a new position in shares of O-I Glass during the fourth quarter valued at about $45,000. KBC Group NV lifted its position in 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 valued at $84,000 after acquiring an additional 2,309 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in O-I Glass during the 4th quarter valued at about $86,000. XTX Topco Ltd bought a new stake in O-I Glass during the 3rd quarter worth approximately $148,000. Finally, Jones Financial Companies Lllp increased its holdings in O-I Glass by 277.1% during the 4th quarter. Jones Financial Companies Lllp now owns 14,982 shares of the industrial products company’s stock worth $162,000 after purchasing an additional 11,009 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on OI. Bank of America raised their target price on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and set a $16.00 price objective on shares of O-I Glass in a research note on Monday, March 17th. Wells Fargo & Company reduced their target price on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, Citigroup dropped their price target on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $15.38.

O-I Glass Price Performance

Shares of NYSE:OI opened at $10.81 on Wednesday. The company has a market capitalization of $1.67 billion, a P/E ratio of -15.22, a price-to-earnings-growth ratio of 0.24 and a beta of 0.98. The company’s 50-day moving average is $11.37 and its 200 day moving average is $11.66. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. O-I Glass, Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $15.72.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. On average, equities research analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share for the current 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.