O-I Glass, Inc. (NYSE:OI) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its stake in shares of O-I Glass, Inc. (NYSE:OI) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,150 shares of the industrial products company’s stock after selling 1,673 shares during the quarter. Amalgamated Bank’s holdings in O-I Glass were worth $506,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp grew its position in O-I Glass by 277.1% during the 4th quarter. Jones Financial Companies Lllp now owns 14,982 shares of the industrial products company’s stock worth $162,000 after purchasing an additional 11,009 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in O-I Glass by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,848,857 shares of the industrial products company’s stock worth $20,042,000 after purchasing an additional 25,719 shares during the last quarter. Victory Capital Management Inc. grew its position in O-I Glass by 57.1% during the 4th quarter. Victory Capital Management Inc. now owns 139,302 shares of the industrial products company’s stock worth $1,510,000 after purchasing an additional 50,641 shares during the last quarter. Amundi grew its position in O-I Glass by 212.9% during the 4th quarter. Amundi now owns 95,302 shares of the industrial products company’s stock worth $996,000 after purchasing an additional 64,844 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its position in O-I Glass by 21.9% during the 4th quarter. Johnson Investment Counsel Inc. now owns 26,976 shares of the industrial products company’s stock worth $292,000 after purchasing an additional 4,849 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on OI. Bank of America reissued a “neutral” rating and set a $17.00 price objective (up from $15.00) on shares of O-I Glass in a research report on Wednesday. Truist Financial reaffirmed a “buy” rating and issued a $16.00 target price (up previously from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. BNP Paribas Exane initiated coverage on shares of O-I Glass in a report on Wednesday, June 25th. They set an “outperform” rating and a $18.00 price target for the company. UBS Group reaffirmed a “buy” rating and issued a $19.00 price objective (up previously from $17.00) on shares of O-I Glass in a report on Wednesday. Finally, Citigroup lifted their price objective on O-I Glass from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, July 3rd. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, O-I Glass presently has an average rating of “Moderate Buy” and a consensus target price of $16.80.

O-I Glass Stock 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 P/E/G ratio of 0.32 and a beta of 0.97. O-I Glass, Inc. has a 52 week low of $9.23 and a 52 week high of $16.04. The company’s 50-day moving average price is $13.95 and its 200 day moving average price is $12.16. The company has a current ratio of 1.24, a quick ratio of 0.73 and a debt-to-equity ratio of 3.83.

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