O-I Glass, Inc. (NYSE:OI) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 21.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 175,923 shares of the industrial products company's stock after buying an additional 31,158 shares during the quarter. Wells Fargo & Company MN owned approximately 0.11% of O-I Glass worth $1,907,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in shares of O-I Glass by 18.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company's stock worth $8,130,000 after acquiring an additional 94,671 shares in the last quarter. Sei Investments Co. boosted its holdings in O-I Glass by 112.8% in the fourth quarter. Sei Investments Co. now owns 93,174 shares of the industrial products company's stock valued at $1,010,000 after purchasing an additional 49,383 shares in the last quarter. Victory Capital Management Inc. increased its stake in O-I Glass by 57.1% in the fourth quarter. Victory Capital Management Inc. now owns 139,302 shares of the industrial products company's stock valued at $1,510,000 after purchasing an additional 50,641 shares during the last quarter. Barclays PLC raised its holdings in O-I Glass by 349.3% during the third quarter. Barclays PLC now owns 261,161 shares of the industrial products company's stock worth $3,427,000 after purchasing an additional 203,037 shares in the last quarter. Finally, Amundi raised its holdings in O-I Glass by 212.9% during the fourth quarter. Amundi now owns 95,302 shares of the industrial products company's stock worth $996,000 after purchasing an additional 64,844 shares in the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OI has been the topic of several research analyst reports. Wells Fargo & Company cut their price target on shares of O-I Glass from $18.00 to $16.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada reiterated an "outperform" rating and set a $16.00 target price on shares of O-I Glass in a research report on Monday, March 17th. Bank of America upped their target price on O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Citigroup cut their price target on O-I Glass from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Finally, Truist Financial decreased their price objective on O-I Glass from $15.00 to $13.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

O-I Glass Stock Performance

O-I Glass stock traded up $0.17 during mid-day trading on Tuesday, reaching $12.14. 1,853,502 shares of the company were exchanged, compared to its average volume of 1,609,446. The firm's 50-day simple moving average is $11.32 and its two-hundred day simple moving average is $11.53. O-I Glass, Inc. has a twelve month low of $9.23 and a twelve month high of $15.72. The firm has a market cap of $1.88 billion, a PE ratio of -17.10, a price-to-earnings-growth ratio of 0.24 and a beta of 0.98. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15.

O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.22. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. Equities analysts predict that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

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.