Russell Investments Group Ltd. Sells 28,954 Shares of O-I Glass, Inc. (NYSE:OI)

Posted by on May 18th, 2023

Russell Investments Group Ltd. trimmed its holdings in shares of O-I Glass, Inc. (NYSE:OI – Get Rating) by 11.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 226,804 shares of the industrial products company’s stock after selling 28,954 shares during the period. Russell Investments Group Ltd. owned about 0.15% of O-I Glass worth $3,759,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in O-I Glass by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 19,597,610 shares of the industrial products company’s stock worth $253,789,000 after acquiring an additional 291,640 shares during the last quarter. State Street Corp boosted its position in shares of O-I Glass by 0.9% during the 3rd quarter. State Street Corp now owns 5,841,163 shares of the industrial products company’s stock valued at $75,643,000 after acquiring an additional 54,511 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in O-I Glass by 19.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,389,263 shares of the industrial products company’s stock worth $43,892,000 after buying an additional 545,899 shares during the last quarter. Levin Capital Strategies L.P. lifted its position in O-I Glass by 91.9% in the 3rd quarter. Levin Capital Strategies L.P. now owns 3,376,203 shares of the industrial products company’s stock worth $43,722,000 after buying an additional 1,616,942 shares during the last quarter. Finally, Private Management Group Inc. lifted its position in O-I Glass by 1.6% in the 3rd quarter. Private Management Group Inc. now owns 2,919,083 shares of the industrial products company’s stock worth $37,802,000 after buying an additional 45,769 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OI has been the subject of several recent research reports. Barclays boosted their price objective on O-I Glass from $18.00 to $19.00 in a research report on Monday, May 1st. Truist Financial increased their price objective on O-I Glass from $27.00 to $31.00 in a report on Thursday, April 27th. Citigroup raised their price target on O-I Glass from $22.00 to $25.00 and gave the company a “buy” rating in a report on Friday, February 3rd. StockNews.com began coverage on O-I Glass in a report on Thursday. They set a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on O-I Glass from $18.00 to $24.00 and gave the company a “hold” rating in a research report on Thursday, February 2nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.70.

O-I Glass Stock Up 2.7 %

OI stock opened at $21.48 on Thursday. O-I Glass, Inc. has a twelve month low of $11.60 and a twelve month high of $23.52. The company has a quick ratio of 0.77, a current ratio of 1.22 and a debt-to-equity ratio of 2.34. The stock has a market cap of $3.34 billion, a P/E ratio of 4.87, a PEG ratio of 0.48 and a beta of 1.36. The business’s 50-day moving average price is $21.79 and its 200-day moving average price is $19.73.

O-I Glass (NYSE:OI – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.46. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.78 billion. O-I Glass had a return on equity of 31.48% and a net margin of 10.04%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.56 EPS. On average, equities research analysts forecast that O-I Glass, Inc. will post 3.16 EPS for the current year.

O-I Glass Company Profile

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O-I Glass, Inc engages in manufacturing of glass products. It offers products to the food and beverage sectors. The firm operates through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded in 1929 and is headquartered in Perrysburg, OH.

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

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