Allspring Global Investments Holdings LLC Acquires 13,983 Shares of O-I Glass, Inc. (NYSE:OI)

Allspring Global Investments Holdings LLC boosted its holdings in O-I Glass, Inc. (NYSE:OI) by 53.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,037 shares of the industrial products company’s stock after buying an additional 13,983 shares during the period. Allspring Global Investments Holdings LLC’s holdings in O-I Glass were worth $466,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in shares of O-I Glass by 79.3% during the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 1,142 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of O-I Glass by 807.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 4,343 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of O-I Glass during the 4th quarter worth approximately $86,000. Point72 Asset Management L.P. acquired a new stake in shares of O-I Glass during the 4th quarter worth approximately $89,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of O-I Glass during the 4th quarter worth approximately $106,000. 97.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OI has been the topic of several recent research reports. Citigroup lifted their price objective on O-I Glass from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, July 3rd. Bank of America reaffirmed a “neutral” rating and issued a $17.00 price target (up previously from $15.00) on shares of O-I Glass in a research note on Wednesday. BNP Paribas Exane initiated coverage on O-I Glass in a research note on Wednesday, June 25th. They issued an “outperform” rating and a $18.00 price target on the stock. Barclays boosted their price target on O-I Glass from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $16.00 price target (up previously from $13.00) on shares of O-I Glass in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $16.80.

O-I Glass Trading Down 0.3%

OI stock opened at $15.56 on Friday. The company has a market cap of $2.41 billion, a P/E ratio of -12.35, a PEG ratio of 0.32 and a beta of 0.97. O-I Glass, Inc. has a twelve month low of $9.23 and a twelve month high of $16.04. The company has a quick ratio of 0.73, a current ratio of 1.24 and a debt-to-equity ratio of 3.83. The business has a fifty day moving average of $13.95 and a 200-day moving average of $12.16.

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

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.