O-I Glass, Inc. (NYSE:OI) Holdings Lowered by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its stake in shares of O-I Glass, Inc. (NYSE:OI) by 76.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 323,187 shares of the industrial products company’s stock after selling 1,078,213 shares during the period. Assenagon Asset Management S.A. owned about 0.21% of O-I Glass worth $3,707,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of OI. Rhumbline Advisers lifted its holdings in shares of O-I Glass by 0.8% during the fourth quarter. Rhumbline Advisers now owns 485,732 shares of the industrial products company’s stock valued at $5,265,000 after purchasing an additional 3,980 shares during the last quarter. Hourglass Capital LLC lifted its holdings in shares of O-I Glass by 105.6% during the fourth quarter. Hourglass Capital LLC now owns 167,450 shares of the industrial products company’s stock valued at $1,815,000 after purchasing an additional 86,015 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of O-I Glass by 2.2% during the fourth quarter. Principal Financial Group Inc. now owns 750,006 shares of the industrial products company’s stock valued at $8,130,000 after purchasing an additional 15,964 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of O-I Glass by 3.7% during the fourth quarter. Illinois Municipal Retirement Fund now owns 89,224 shares of the industrial products company’s stock valued at $967,000 after purchasing an additional 3,207 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of O-I Glass by 277.1% during the fourth quarter. Jones Financial Companies Lllp now owns 14,982 shares of the industrial products company’s stock valued at $162,000 after purchasing an additional 11,009 shares during the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on OI. Royal Bank of Canada reissued an “outperform” rating and set a $16.00 price target on shares of O-I Glass in a research report on Monday, March 17th. Wall Street Zen raised O-I Glass from a “hold” rating to a “buy” rating in a research report on Saturday, May 24th. Barclays upped their price target on O-I Glass from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. Citigroup upped their price target on O-I Glass from $11.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Finally, Truist Financial reissued a “buy” rating and set a $16.00 price target (up from $13.00) on shares of O-I Glass in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.88.

O-I Glass Stock Performance

Shares of OI stock opened at $13.57 on Monday. The company has a debt-to-equity ratio of 3.78, a current ratio of 1.15 and a quick ratio of 0.70. O-I Glass, Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $14.34. The stock’s 50-day moving average is $12.55 and its two-hundred day moving average is $11.71. The firm has a market cap of $2.10 billion, a P/E ratio of -19.11, a PEG ratio of 0.24 and a beta of 0.96.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the firm posted $0.45 EPS. The business’s revenue was up .4% compared to the same quarter last year. Analysts predict that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal 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.