Lee Danner & Bass Inc. Trims Stock Position in O-I Glass, Inc. (NYSE:OI)

Lee Danner & Bass Inc. lessened its stake in O-I Glass, Inc. (NYSE:OIFree Report) by 14.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 107,530 shares of the industrial products company’s stock after selling 18,145 shares during the period. Lee Danner & Bass Inc.’s holdings in O-I Glass were worth $1,761,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of OI. Covestor Ltd grew its position in O-I Glass by 259.7% during the third quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock valued at $28,000 after buying an additional 1,205 shares during the period. Carolina Wealth Advisors LLC boosted its stake in shares of O-I Glass by 6.7% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 26,501 shares of the industrial products company’s stock worth $443,000 after acquiring an additional 1,659 shares in the last quarter. Diversified Trust Co boosted its stake in shares of O-I Glass by 4.9% during the 4th quarter. Diversified Trust Co now owns 39,752 shares of the industrial products company’s stock worth $651,000 after acquiring an additional 1,846 shares in the last quarter. National Bank of Canada FI grew its position in shares of O-I Glass by 23.8% during the 3rd quarter. National Bank of Canada FI now owns 10,405 shares of the industrial products company’s stock valued at $171,000 after acquiring an additional 2,000 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of O-I Glass by 3.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,946 shares of the industrial products company’s stock valued at $1,146,000 after purchasing an additional 2,289 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Performance

Shares of OI stock opened at $14.81 on Tuesday. O-I Glass, Inc. has a fifty-two week low of $13.56 and a fifty-two week high of $23.57. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.77 and a current ratio of 1.23. The stock’s fifty day moving average is $16.16 and its two-hundred day moving average is $15.64.

O-I Glass (NYSE:OIGet Free Report) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. O-I Glass had a negative net margin of 1.45% and a positive return on equity of 24.90%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 earnings per share. As a group, research analysts forecast that O-I Glass, Inc. will post 2.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com downgraded O-I Glass from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Citigroup lowered O-I Glass from a “buy” rating to a “neutral” rating and increased their target price for the company from $17.00 to $18.00 in a research report on Wednesday, January 3rd. Truist Financial reissued a “buy” rating and issued a $20.00 price target on shares of O-I Glass in a research note on Monday, March 25th. Bank of America restated a “neutral” rating and set a $16.00 price objective (down from $21.00) on shares of O-I Glass in a research report on Friday. Finally, TheStreet downgraded shares of O-I Glass from a “b-” rating to a “c-” rating in a report on Tuesday, February 6th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.67.

Get Our Latest Research Report on O-I Glass

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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