O-I Glass (NYSE:OI) Sets New 52-Week High at $23.60

O-I Glass, Inc. (NYSE:OI – Get Rating)’s share price hit a new 52-week high on Monday . The stock traded as high as $23.60 and last traded at $23.60, with a volume of 171 shares trading hands. The stock had previously closed at $23.44.

Wall Street Analysts Forecast Growth

OI has been the topic of a number of research analyst reports. Truist Financial lifted their target price on O-I Glass from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, February 2nd. Wells Fargo & Company lifted their price objective on shares of O-I Glass from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. Robert W. Baird increased their target price on shares of O-I Glass from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, February 2nd. Citigroup lifted their price target on shares of O-I Glass from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. Finally, Barclays increased their price objective on O-I Glass from $13.00 to $18.00 and gave the company an “underweight” rating in a research report on Monday, February 6th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

O-I Glass Stock Up 0.2 %

The firm has a 50-day moving average of $20.26 and a two-hundred day moving average of $16.97. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 6.18, a price-to-earnings-growth ratio of 1.32 and a beta of 1.36. The company has a quick ratio of 0.74, a current ratio of 1.10 and a debt-to-equity ratio of 2.86.

O-I Glass (NYSE:OI – Get Rating) last issued its earnings results on Tuesday, January 31st. The industrial products company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.59 billion. O-I Glass had a return on equity of 27.42% and a net margin of 8.52%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS. As a group, sell-side analysts anticipate that O-I Glass, Inc. will post 2.5 earnings per share for the current year.

Insider Buying and Selling at O-I Glass

In related news, SVP Arnaud Aujouannet sold 2,510 shares of the stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $22.33, for a total transaction of $56,048.30. Following the completion of the sale, the senior vice president now directly owns 55,368 shares in the company, valued at $1,236,367.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Arnaud Aujouannet sold 2,510 shares of the stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $22.33, for a total value of $56,048.30. Following the transaction, the senior vice president now owns 55,368 shares in the company, valued at $1,236,367.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Vitaliano Torno sold 17,299 shares of the firm’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $22.22, for a total transaction of $384,383.78. Following the transaction, the insider now directly owns 158,010 shares in the company, valued at approximately $3,510,982.20. The disclosure for this sale can be found here. Company insiders own 1.34% of the company’s stock.

Institutional Trading of O-I Glass

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of O-I Glass by 1.5% in the third quarter. Vanguard Group Inc. now owns 19,597,610 shares of the industrial products company’s stock valued at $253,789,000 after purchasing an additional 291,640 shares during the period. State Street Corp lifted its position in O-I Glass by 0.9% during the 3rd quarter. State Street Corp now owns 5,841,163 shares of the industrial products company’s stock worth $75,643,000 after acquiring an additional 54,511 shares during the last quarter. Great West Life Assurance Co. Can bought a new stake in O-I Glass during the third quarter valued at about $70,013,000. Dimensional Fund Advisors LP grew its position in shares of O-I Glass by 13.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,854,673 shares of the industrial products company’s stock valued at $63,873,000 after purchasing an additional 465,410 shares during the last quarter. Finally, Levin Capital Strategies L.P. increased its stake in shares of O-I Glass by 91.9% in the third quarter. Levin Capital Strategies L.P. now owns 3,376,203 shares of the industrial products company’s stock worth $43,722,000 after purchasing an additional 1,616,942 shares during the period. Institutional investors own 93.60% of the company’s stock.

O-I Glass Company Profile

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O-I Glass, Inc engages in manufacturing of glass products. It offers products to the food and beverage sectors. The firm operates through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded in 1929 and is headquartered in Perrysburg, OH.