Arizona State Retirement System Has $710,000 Stake in O-I Glass, Inc. (NYSE:OI)

Arizona State Retirement System lowered its stake in O-I Glass, Inc. (NYSE:OI) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,347 shares of the industrial products company’s stock after selling 864 shares during the period. Arizona State Retirement System’s holdings in O-I Glass were worth $710,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of OI. Van ECK Associates Corp lifted its stake in shares of O-I Glass by 414.2% in the 3rd quarter. Van ECK Associates Corp now owns 129,826 shares of the industrial products company’s stock valued at $2,172,000 after purchasing an additional 104,576 shares during the period. Hussman Strategic Advisors Inc. acquired a new position in O-I Glass in the third quarter valued at about $1,757,000. New York State Common Retirement Fund boosted its holdings in O-I Glass by 14.4% during the third quarter. New York State Common Retirement Fund now owns 523,860 shares of the industrial products company’s stock worth $8,764,000 after buying an additional 65,835 shares during the last quarter. American Century Companies Inc. grew its position in shares of O-I Glass by 7.8% during the 3rd quarter. American Century Companies Inc. now owns 1,672,400 shares of the industrial products company’s stock worth $27,979,000 after buying an additional 121,495 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased its stake in shares of O-I Glass by 378.2% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 63,116 shares of the industrial products company’s stock valued at $1,056,000 after acquiring an additional 49,916 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Trading Up 2.2 %

NYSE:OI opened at $15.42 on Friday. The business has a 50 day moving average price of $16.18 and a two-hundred day moving average price of $15.66. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 2.69. The company has a market cap of $2.40 billion, a P/E ratio of -20.56, a price-to-earnings-growth ratio of 1.04 and a beta of 1.35. O-I Glass, Inc. has a twelve month low of $13.56 and a twelve month high of $23.57.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.09. O-I Glass had a negative net margin of 1.45% and a positive return on equity of 24.90%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, analysts expect that O-I Glass, Inc. will post 2.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Truist Financial restated a “buy” rating and issued a $20.00 price objective on shares of O-I Glass in a research report on Monday, March 25th. Barclays raised their price target on O-I Glass from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 13th. TheStreet lowered O-I Glass from a “b-” rating to a “c-” rating in a research report on Tuesday, February 6th. UBS Group initiated coverage on shares of O-I Glass in a report on Tuesday, January 16th. They set a “buy” rating and a $26.00 target price on the stock. Finally, StockNews.com lowered shares of O-I Glass from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, O-I Glass presently has an average rating of “Moderate Buy” and an average price target of $24.00.

O-I Glass Company 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.