O-I Glass, Inc. (NYSE:OI) Position Cut by Arizona State Retirement System

Arizona State Retirement System lowered its holdings in shares of O-I Glass, Inc. (NYSE:OI) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,347 shares of the industrial products company’s stock after selling 864 shares during the period. Arizona State Retirement System’s holdings in O-I Glass were worth $710,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Citigroup Inc. lifted its stake in shares of O-I Glass by 6.8% in the 1st quarter. Citigroup Inc. now owns 135,235 shares of the industrial products company’s stock worth $1,783,000 after acquiring an additional 8,576 shares during the period. PNC Financial Services Group Inc. boosted its stake in O-I Glass by 4.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 74,856 shares of the industrial products company’s stock valued at $986,000 after purchasing an additional 3,197 shares in the last quarter. Natixis Advisors L.P. increased its position in shares of O-I Glass by 28.0% during the 1st quarter. Natixis Advisors L.P. now owns 23,746 shares of the industrial products company’s stock valued at $313,000 after purchasing an additional 5,200 shares during the period. MetLife Investment Management LLC raised its stake in shares of O-I Glass by 52.5% in the 1st quarter. MetLife Investment Management LLC now owns 78,076 shares of the industrial products company’s stock worth $1,029,000 after buying an additional 26,893 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of O-I Glass by 2.8% in the first quarter. Rhumbline Advisers now owns 413,166 shares of the industrial products company’s stock valued at $5,446,000 after buying an additional 11,382 shares during the period. Institutional investors and hedge funds own 97.24% of the company’s stock.

Analyst Upgrades and Downgrades

OI has been the topic of several research reports. Barclays boosted their price target on shares of O-I Glass from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 13th. TheStreet lowered shares of O-I Glass from a “b-” rating to a “c-” rating in a research note on Tuesday, February 6th. UBS Group assumed coverage on O-I Glass in a report on Tuesday, January 16th. They issued a “buy” rating and a $26.00 price target on the stock. StockNews.com downgraded O-I Glass from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, Truist Financial restated a “buy” rating and issued a $20.00 target price on shares of O-I Glass in a report on Monday, March 25th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, O-I Glass currently has an average rating of “Moderate Buy” and an average target price of $24.00.

O-I Glass Stock Performance

Shares of O-I Glass stock opened at $15.42 on Friday. O-I Glass, Inc. has a 12 month low of $13.56 and a 12 month high of $23.57. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 2.69. The stock has a market cap of $2.40 billion, a PE ratio of -20.56, a price-to-earnings-growth ratio of 1.04 and a beta of 1.35. The business has a fifty day simple moving average of $16.18 and a 200-day simple moving average of $15.66.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company posted $0.38 EPS. On average, sell-side analysts anticipate that O-I Glass, Inc. will post 2.37 EPS for the current fiscal year.

About O-I Glass

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.