O-I Glass, Inc. (NYSE:OI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 84.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,054 shares of the industrial products company's stock after selling 146,511 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in O-I Glass were worth $280,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new position in shares of O-I Glass during the third quarter worth $27,000. R Squared Ltd purchased a new position in shares of O-I Glass during the fourth quarter worth $45,000. Nisa Investment Advisors LLC boosted its position in shares of O-I Glass by 28.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company's stock worth $67,000 after buying an additional 1,136 shares during the period. KBC Group NV boosted its position in shares of O-I Glass by 38.9% during the third quarter. KBC Group NV now owns 5,431 shares of the industrial products company's stock worth $71,000 after buying an additional 1,521 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of O-I Glass during the third quarter worth $77,000. Institutional investors and hedge funds own 97.24% of the company's stock.

O-I Glass Stock Up 1.2 %

NYSE OI traded up $0.14 during trading on Friday, reaching $11.46. 1,694,421 shares of the company's stock were exchanged, compared to its average volume of 1,417,557. The stock has a market cap of $1.76 billion, a P/E ratio of -16.13, a price-to-earnings-growth ratio of 0.24 and a beta of 1.22. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. The company has a 50 day moving average price of $11.05 and a two-hundred day moving average price of $11.95. O-I Glass, Inc. has a 1 year low of $9.85 and a 1 year high of $17.58.

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O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.02. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. On average, equities research analysts anticipate that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on OI shares. Citigroup lowered their price target on O-I Glass from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. StockNews.com upgraded O-I Glass from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Bank of America lifted their target price on O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a report on Monday, January 6th. Wells Fargo & Company decreased their target price on O-I Glass from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Finally, Royal Bank of Canada decreased their target price on O-I Glass from $18.00 to $16.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, O-I Glass currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.38.

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.