Illinois Municipal Retirement Fund Sells 12,745 Shares of O-I Glass, Inc. (NYSE:OI)

Illinois Municipal Retirement Fund trimmed its position in O-I Glass, Inc. (NYSE:OI) by 14.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,479 shares of the industrial products company’s stock after selling 12,745 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in O-I Glass were worth $877,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its stake in O-I Glass by 277.1% in the fourth quarter. Jones Financial Companies Lllp now owns 14,982 shares of the industrial products company’s stock valued at $162,000 after buying an additional 11,009 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of O-I Glass by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,848,857 shares of the industrial products company’s stock valued at $20,042,000 after purchasing an additional 25,719 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of O-I Glass by 57.1% in the 4th quarter. Victory Capital Management Inc. now owns 139,302 shares of the industrial products company’s stock valued at $1,510,000 after purchasing an additional 50,641 shares in the last quarter. Amundi grew its holdings in shares of O-I Glass by 212.9% during the 4th quarter. Amundi now owns 95,302 shares of the industrial products company’s stock valued at $996,000 after purchasing an additional 64,844 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its position in O-I Glass by 21.9% during the 4th quarter. Johnson Investment Counsel Inc. now owns 26,976 shares of the industrial products company’s stock worth $292,000 after purchasing an additional 4,849 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OI has been the topic of several recent research reports. Wall Street Zen raised O-I Glass from a “hold” rating to a “buy” rating in a report on Sunday. Citigroup lifted their price target 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. Truist Financial restated a “buy” rating and set a $16.00 price target (up from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. BNP Paribas set a $18.00 price objective on shares of O-I Glass in a report on Wednesday, June 25th. Finally, Barclays lifted their target price on shares of 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. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.30.

O-I Glass Price Performance

O-I Glass stock opened at $15.57 on Thursday. The stock’s 50 day moving average is $13.54 and its 200 day moving average is $11.94. O-I Glass, Inc. has a one year low of $9.23 and a one year high of $15.59. The firm has a market cap of $2.41 billion, a P/E ratio of -12.36, a P/E/G ratio of 0.31 and a beta of 0.97. The company has a debt-to-equity ratio of 3.83, a current ratio of 1.24 and a quick ratio of 0.73.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.22. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.55 billion. O-I Glass had a negative net margin of 2.98% and a positive return on equity of 8.48%. The company’s revenue was up .4% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 EPS. As a group, research analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current year.

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.