Legal & General Group Plc Decreases Stock Position in O-I Glass, Inc. (NYSE:OI)

Legal & General Group Plc decreased its holdings in shares of O-I Glass, Inc. (NYSE:OI) by 3.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 447,816 shares of the industrial products company’s stock after selling 17,224 shares during the period. Legal & General Group Plc owned approximately 0.29% of O-I Glass worth $4,854,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of OI. R Squared Ltd purchased a new stake in O-I Glass during the 4th quarter valued at about $45,000. KBC Group NV increased its holdings 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 worth $84,000 after buying an additional 2,309 shares during the period. New Age Alpha Advisors LLC purchased a new position in O-I Glass during the 4th quarter worth approximately $86,000. Jones Financial Companies Lllp lifted its stake 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 valued at $162,000 after acquiring an additional 11,009 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings in shares of O-I Glass by 13.4% in the 4th quarter. Corient Private Wealth LLC now owns 16,544 shares of the industrial products company’s stock valued at $179,000 after acquiring an additional 1,954 shares during the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

O-I Glass Stock Performance

OI opened at $10.79 on Tuesday. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -15.20, a PEG ratio of 0.24 and a beta of 0.98. The firm’s fifty day simple moving average is $11.30 and its two-hundred day simple moving average is $11.58. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. O-I Glass, Inc. has a 52-week low of $9.23 and a 52-week high of $15.72.

O-I Glass (NYSE:OI) last posted 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 positive return on equity of 8.27% and a negative net margin of 1.62%. Equities analysts anticipate that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.