JPMorgan Chase & Co. Purchases 213,977 Shares of O-I Glass, Inc. (NYSE:OI)

JPMorgan Chase & Co. raised its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 34.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 833,620 shares of the industrial products company's stock after acquiring an additional 213,977 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.54% of O-I Glass worth $9,036,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in OI. R Squared Ltd acquired a new stake in O-I Glass during the fourth quarter worth approximately $45,000. KBC Group NV grew its holdings in O-I Glass by 42.5% in the 4th quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock valued at $84,000 after buying an additional 2,309 shares in the last quarter. XTX Topco Ltd bought a new position in O-I Glass during the 3rd quarter worth $148,000. Jones Financial Companies Lllp lifted its holdings in shares of O-I Glass by 277.1% during the fourth quarter. Jones Financial Companies Lllp now owns 14,982 shares of the industrial products company's stock worth $162,000 after buying an additional 11,009 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its position in shares of O-I Glass by 13.4% in the fourth quarter. Corient Private Wealth LLC now owns 16,544 shares of the industrial products company's stock valued at $179,000 after acquiring an additional 1,954 shares during the period. Institutional investors and hedge funds own 97.24% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Citigroup dropped their price objective 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. Wells Fargo & Company lowered their price objective on shares of O-I Glass from $18.00 to $16.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $16.00 target price on shares of O-I Glass in a research note on Monday, March 17th. Finally, Bank of America raised their price objective on O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a report on Monday, January 6th. 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, the stock has an average rating of "Moderate Buy" and a consensus target price of $15.38.

O-I Glass Trading Up 1.0 %

Shares of OI stock traded up $0.11 on Friday, hitting $10.93. The company had a trading volume of 876,741 shares, compared to its average volume of 1,605,331. O-I Glass, Inc. has a twelve month low of $9.23 and a twelve month high of $15.72. 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 firm has a market cap of $1.69 billion, a P/E ratio of -15.40, a P/E/G ratio of 0.24 and a beta of 0.98. The stock's 50-day moving average is $11.32 and its two-hundred day moving average is $11.60.

O-I Glass (NYSE:OI - Get Free Report) last announced its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, beating the consensus estimate 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 earnings per share for the current fiscal year.

O-I Glass Profile

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.