O-I Glass, Inc. (NYSE:OI) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its holdings in O-I Glass, Inc. (NYSE:OI) by 59.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 242,151 shares of the industrial products company’s stock after selling 351,232 shares during the period. Federated Hermes Inc. owned about 0.16% of O-I Glass worth $3,966,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on OI shares. Truist Financial reaffirmed a “buy” rating and set a $20.00 price target on shares of O-I Glass in a report on Monday, March 25th. Barclays boosted their target price on O-I Glass from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 13th. Bank of America reissued a “neutral” rating and set a $16.00 price objective (down previously from $21.00) on shares of O-I Glass in a report on Friday, April 19th. TheStreet downgraded shares of O-I Glass from a “b-” rating to a “c-” rating in a research report on Tuesday, February 6th. Finally, Citigroup downgraded shares of O-I Glass from a “buy” rating to a “neutral” rating and increased their target price for the company from $17.00 to $18.00 in a research report on Wednesday, January 3rd. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $22.67.

O-I Glass Stock Performance

Shares of O-I Glass stock opened at $15.07 on Friday. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -20.09, a PEG ratio of 1.04 and a beta of 1.35. The firm’s fifty day simple moving average is $16.02 and its 200-day simple moving average is $15.61. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.23 and a quick ratio of 0.77. O-I Glass, Inc. has a 12 month low of $13.56 and a 12 month high of $23.57.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the business posted $0.38 earnings per share. O-I Glass’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, equities analysts forecast that O-I Glass, Inc. will post 2.33 earnings per share for the current year.

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.