O-I Glass, Inc. (NYSE:OI) Shares Sold by Access Investment Management LLC

Access Investment Management LLC lowered its stake in O-I Glass, Inc. (NYSE:OI - Free Report) by 26.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 250,000 shares of the industrial products company's stock after selling 90,000 shares during the quarter. Access Investment Management LLC owned 0.16% of O-I Glass worth $3,280,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp increased its position in shares of O-I Glass by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 135,154 shares of the industrial products company's stock worth $2,242,000 after purchasing an additional 1,465 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of O-I Glass by 4.9% in the first quarter. Illinois Municipal Retirement Fund now owns 92,685 shares of the industrial products company's stock worth $1,538,000 after buying an additional 4,363 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in O-I Glass during the first quarter worth about $1,021,000. Sei Investments Co. grew its stake in O-I Glass by 125.3% during the 1st quarter. Sei Investments Co. now owns 66,948 shares of the industrial products company's stock valued at $1,111,000 after acquiring an additional 37,227 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in O-I Glass in the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 97.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Truist Financial restated a "buy" rating and issued a $16.00 price target (down from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. Barclays dropped their target price on O-I Glass from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Thursday, October 31st. Wells Fargo & Company reduced their price target 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. Robert W. Baird dropped their price objective on shares of O-I Glass from $22.00 to $18.00 and set an "outperform" rating for the company in a report on Thursday, August 1st. Finally, Citigroup lifted their target price 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $16.25.

O-I Glass Trading Up 4.5 %

Shares of OI traded up $0.57 during trading on Monday, reaching $13.37. 1,503,766 shares of the company traded hands, compared to its average volume of 1,701,118. The stock has a 50-day simple moving average of $12.63 and a 200-day simple moving average of $12.30. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. O-I Glass, Inc. has a twelve month low of $10.08 and a twelve month high of $17.58. The stock has a market cap of $2.07 billion, a PE ratio of -4.84 and a beta of 1.20.

O-I Glass (NYSE:OI - Get Free Report) last announced its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.08). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The firm had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.76 billion. During the same period in the previous year, the firm earned $0.80 EPS. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. On average, analysts anticipate that O-I Glass, Inc. will post 0.75 earnings per share for the current 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.