Baker Ellis Asset Management LLC Sells 6,800 Shares of O-I Glass, Inc. (NYSE:OI)

Baker Ellis Asset Management LLC reduced its stake in O-I Glass, Inc. (NYSE:OIFree Report) by 36.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,000 shares of the industrial products company’s stock after selling 6,800 shares during the period. Baker Ellis Asset Management LLC’s holdings in O-I Glass were worth $197,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in OI. Citigroup Inc. boosted its position 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 purchasing an additional 8,576 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of O-I Glass by 4.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 74,856 shares of the industrial products company’s stock worth $986,000 after purchasing an additional 3,197 shares during the last quarter. Natixis Advisors L.P. boosted its position in shares of O-I Glass by 28.0% in the 1st quarter. Natixis Advisors L.P. now owns 23,746 shares of the industrial products company’s stock worth $313,000 after purchasing an additional 5,200 shares during the last quarter. MetLife Investment Management LLC boosted its position 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 purchasing an additional 26,893 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of O-I Glass by 2.8% in the 1st quarter. Rhumbline Advisers now owns 413,166 shares of the industrial products company’s stock worth $5,446,000 after purchasing an additional 11,382 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors.

O-I Glass Stock Up 1.9 %

Shares of OI stock traded up $0.32 on Wednesday, reaching $17.29. 44,750 shares of the company were exchanged, compared to its average volume of 1,679,167. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.23 and a quick ratio of 0.77. O-I Glass, Inc. has a one year low of $13.56 and a one year high of $23.57. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -22.63, a PEG ratio of 1.15 and a beta of 1.35. The company has a 50-day moving average of $16.03 and a 200-day moving average of $15.77.

O-I Glass (NYSE:OIGet Free Report) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.03 by $0.09. O-I Glass had a negative net margin of 1.45% and a positive return on equity of 24.90%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the firm earned $0.38 EPS. O-I Glass’s revenue for the quarter was down 3.1% on a year-over-year basis. Analysts anticipate that O-I Glass, Inc. will post 2.38 earnings per share for the current year.

Wall Street Analyst Weigh In

OI has been the topic of several recent research reports. Truist Financial restated a “buy” rating and issued a $20.00 price target on shares of O-I Glass in a research report on Monday, March 25th. Barclays raised their price objective on O-I Glass from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 13th. Citigroup downgraded O-I Glass from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $17.00 to $18.00 in a research note on Wednesday, January 3rd. StockNews.com downgraded O-I Glass from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, UBS Group began coverage on O-I Glass in a research note on Tuesday, January 16th. They issued a “buy” rating and a $26.00 price target on the stock. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.00.

Check Out Our Latest Report on OI

O-I Glass Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for O-I Glass (NYSE:OI)

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