O-I Glass, Inc. (NYSE:OI) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its stake in shares of O-I Glass, Inc. (NYSE:OI) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,177,155 shares of the industrial products company’s stock after selling 9,832 shares during the quarter. Ameriprise Financial Inc.’s holdings in O-I Glass were worth $12,760,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of O-I Glass in the 4th quarter valued at $45,000. Sterling Capital Management LLC raised its stake in O-I Glass by 807.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 4,343 shares in the last quarter. KBC Group NV lifted its position in O-I Glass by 42.5% in the fourth 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 during the last quarter. New Age Alpha Advisors LLC acquired a new position in O-I Glass in the fourth quarter valued at $86,000. Finally, Freestone Grove Partners LP acquired a new position in O-I Glass in the fourth quarter valued at $129,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Stock Down 2.7%

OI opened at $13.29 on Monday. O-I Glass, Inc. has a 52 week low of $9.23 and a 52 week high of $14.34. The business has a 50 day moving average price of $11.82 and a two-hundred day moving average price of $11.61. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. The company has a market cap of $2.06 billion, a PE ratio of -18.72, a P/E/G ratio of 0.24 and a beta of 0.93.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.22. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, research analysts anticipate that O-I Glass, Inc. will post 1.33 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on OI. Royal Bank of Canada reiterated an “outperform” rating and set a $16.00 target price on shares of O-I Glass in a research report on Monday, March 17th. Barclays lifted their price target on O-I Glass from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Friday, May 2nd. Citigroup boosted their price objective on O-I Glass from $11.00 to $14.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Finally, Truist Financial restated a “buy” rating and set a $16.00 target price (up from $13.00) on shares of O-I Glass in a research report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.88.

About O-I Glass

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.