Lodge Hill Capital LLC trimmed its position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 37.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 664,000 shares of the industrial products company's stock after selling 400,000 shares during the period. O-I Glass accounts for approximately 2.0% of Lodge Hill Capital LLC's investment portfolio, making the stock its 18th biggest position. Lodge Hill Capital LLC owned approximately 0.43% of O-I Glass worth $7,198,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of O-I Glass by 2.2% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 42,900 shares of the industrial products company's stock worth $465,000 after acquiring an additional 916 shares during the last quarter. Corient Private Wealth LLC increased its holdings 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 purchasing an additional 1,954 shares during the last quarter. Guggenheim Capital LLC raised its position in shares of O-I Glass by 9.9% in the fourth quarter. Guggenheim Capital LLC now owns 22,777 shares of the industrial products company's stock valued at $247,000 after purchasing an additional 2,044 shares during the period. KBC Group NV lifted its stake in shares of O-I Glass by 42.5% during the 4th quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock worth $84,000 after buying an additional 2,309 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its stake in shares of O-I Glass by 3.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 89,224 shares of the industrial products company's stock worth $967,000 after buying an additional 3,207 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
OI has been the topic of several research analyst reports. Bank of America increased their price target on shares of O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a report on Monday, January 6th. Citigroup reduced their price target on O-I Glass from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Royal Bank of Canada reiterated an "outperform" rating and set a $16.00 price objective on shares of O-I Glass in a research report on Monday, March 17th. Finally, Wells Fargo & Company reduced their target price 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. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $15.38.
Read Our Latest Stock Report on OI
O-I Glass Price Performance
Shares of NYSE:OI traded up $0.11 during trading on Friday, reaching $10.93. 876,741 shares of the company traded hands, compared to its average volume of 1,605,331. The firm has a market capitalization of $1.69 billion, a PE ratio of -15.40, a PEG ratio of 0.24 and a beta of 0.98. O-I Glass, Inc. has a 52 week low of $9.23 and a 52 week high of $15.72. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. The company's 50 day moving average is $11.32 and its two-hundred day moving average is $11.61.
O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. As a group, sell-side analysts predict that O-I Glass, Inc. will post 1.33 earnings per share for the current year.
O-I Glass Profile
(
Free Report)
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.
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