Allspring Global Investments Holdings LLC Has $2.26 Million Stock Position in O-I Glass, Inc. (NYSE:OI)

Allspring Global Investments Holdings LLC raised its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 33.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 172,565 shares of the industrial products company's stock after buying an additional 43,724 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.11% of O-I Glass worth $2,264,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in OI. Newbridge Financial Services Group Inc. increased its holdings in shares of O-I Glass by 1,337.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company's stock worth $32,000 after buying an additional 2,675 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of O-I Glass by 371.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company's stock worth $32,000 after buying an additional 1,892 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in O-I Glass during the first quarter worth $33,000. FinTrust Capital Advisors LLC purchased a new stake in shares of O-I Glass during the 1st quarter valued at $38,000. Finally, Headlands Technologies LLC bought a new stake in shares of O-I Glass during the 1st quarter worth $39,000. 97.24% of the stock is currently owned by institutional investors and hedge funds.

O-I Glass Price Performance

OI stock traded down $0.59 during trading on Wednesday, hitting $11.85. The stock had a trading volume of 1,125,496 shares, compared to its average volume of 1,678,890. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.26 and a quick ratio of 0.75. The company's 50-day moving average price is $12.73 and its two-hundred day moving average price is $12.48. The stock has a market capitalization of $1.85 billion, a P/E ratio of -7.82 and a beta of 1.17. O-I Glass, Inc. has a twelve month low of $10.08 and a twelve month high of $17.58.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.07). The firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.76 billion. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The company's quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share. As a group, research analysts predict that O-I Glass, Inc. will post 1.11 EPS for the current fiscal year.

Insider Activity

In related news, Director John Humphrey bought 15,000 shares of the company's stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average cost of $11.30 per share, with a total value of $169,500.00. Following the transaction, the director now directly owns 84,227 shares of the company's stock, valued at approximately $951,765.10. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.49% of the company's stock.

Analyst Upgrades and Downgrades

OI has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on O-I Glass from $19.00 to $18.00 and set an "overweight" rating on the stock in a report on Wednesday, July 17th. UBS Group reduced their target price on O-I Glass from $26.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, July 17th. Bank of America raised O-I Glass from a "neutral" rating to a "buy" rating and raised their target price for the stock from $14.00 to $16.00 in a research note on Thursday, October 17th. Citigroup increased their price target on shares of O-I Glass from $14.00 to $15.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 2nd. Finally, Robert W. Baird dropped their price target on O-I Glass from $22.00 to $18.00 and set an "outperform" rating on the stock in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.63.

O-I Glass Company 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.