Bank of New York Mellon Corp reduced its stake in O-I Glass, Inc. (NYSE:OI - Free Report) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,502,091 shares of the industrial products company's stock after selling 75,100 shares during the period. Bank of New York Mellon Corp owned 0.97% of O-I Glass worth $25,130,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Metropolitan Life Insurance Co NY raised its holdings in shares of O-I Glass by 5.3% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 9,577 shares of the industrial products company's stock worth $159,000 after purchasing an additional 485 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of O-I Glass by 0.8% in the 2nd quarter. IFP Advisors Inc now owns 72,414 shares of the industrial products company's stock worth $861,000 after purchasing an additional 610 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of O-I Glass by 1.4% in the 3rd quarter. Neuberger Berman Group LLC now owns 46,004 shares of the industrial products company's stock worth $596,000 after purchasing an additional 656 shares in the last quarter. State of Wyoming raised its holdings in shares of O-I Glass by 7.8% in the 2nd quarter. State of Wyoming now owns 10,126 shares of the industrial products company's stock worth $216,000 after purchasing an additional 730 shares in the last quarter. Finally, Belpointe Asset Management LLC raised its holdings in shares of O-I Glass by 109.4% in the 1st quarter. Belpointe Asset Management LLC now owns 1,518 shares of the industrial products company's stock worth $34,000 after purchasing an additional 793 shares in the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.
O-I Glass Stock Up 2.2 %
O-I Glass stock opened at $15.00 on Friday. The firm has a market cap of $2.32 billion, a PE ratio of 6.30, a P/E/G ratio of 0.91 and a beta of 1.35. The company has a debt-to-equity ratio of 2.25, a quick ratio of 0.87 and a current ratio of 1.40. The firm's 50 day moving average price is $15.50 and its two-hundred day moving average price is $17.49. O-I Glass, Inc. has a twelve month low of $13.56 and a twelve month high of $23.57.
O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.10. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.76 billion. O-I Glass had a net margin of 5.31% and a return on equity of 27.79%. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 EPS. On average, research analysts predict that O-I Glass, Inc. will post 3 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts recently commented on OI shares. Barclays dropped their target price on shares of O-I Glass from $18.00 to $16.00 and set an "equal weight" rating on the stock in a report on Thursday, November 2nd. Wells Fargo & Company cut their price target on shares of O-I Glass from $28.00 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, October 19th. Citigroup lowered shares of O-I Glass from a "buy" rating to a "neutral" rating and boosted their price target for the company from $17.00 to $18.00 in a report on Wednesday, January 3rd. Truist Financial boosted their price target on shares of O-I Glass from $21.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, January 4th. Finally, UBS Group initiated coverage on shares of O-I Glass in a report on Tuesday, January 16th. They set a "buy" rating and a $26.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, O-I Glass presently has an average rating of "Hold" and an average price target of $23.18.
Get Our Latest Analysis on O-I Glass
O-I Glass Company 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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Bank of New York Mellon Corp's stake reduction in O-I Glass, Inc.
According to the article, Bank of New York Mellon Corp reduced its stake in O-I Glass, Inc. by 4.8% in the third quarter. The bank owned 1,502,091 shares of O-I Glass, worth $25,130,000, after selling 75,100 shares during the period.
Other institutional investors' changes in positions
The article also mentions that other institutional investors made changes to their positions in O-I Glass. Metropolitan Life Insurance Co NY raised its holdings by 5.3% in the fourth quarter, owning 9,577 shares worth $159,000 IFP Advisors Inc raised its holdings by 0.8% in the second quarter, owning 72,414 shares worth $861,000 Neuberger Berman Group LLC raised its holdings by 1.4% in the third quarter, owning 46,004 shares worth $596,000 State of Wyoming raised its holdings by 7.8% in the second quarter, owning 10,126 shares worth $216,000 Belpointe Asset Management LLC raised its holdings by 109.4% in the first quarter, owning 1,518 shares worth $34,000 Overall, 91.29% of the stock is owned by institutional investors and hedge funds.
O-I Glass stock information
O-I Glass, Inc. (NYSE: OI) opened at $15.00 on Friday and has a market cap of $2.32 billion The company has a price-to-earnings (PE) ratio of 6.30 and a price/earnings-to-growth (PEG) ratio of 0.91 The beta of O-I Glass is 1.35 The company's 50-day moving average price is $15.50, and its 200-day moving average price is $17.49 O-I Glass has a debt-to-equity ratio of 2.25, a quick ratio of 0.87, and a current ratio of 1.40 The company's twelve-month low is $13.56, and its twelve-month high is $23.57.
O-I Glass quarterly earnings
In its most recent quarterly earnings report released on October 31st, O-I Glass reported earnings per share (EPS) of $0.80 for the quarter, beating the consensus estimate of $0.70 by $0.10 The company had revenue of $1.74 billion for the quarter, slightly lower than analyst estimates of $1.76 billion O-I Glass had a net margin of 5.31% and a return on equity of 27.79% The company's revenue for the quarter was up 3.0% compared to the same quarter last year, and it is expected to post 3 EPS for the current fiscal year.
Analyst ratings and price targets
Several analysts have commented on O-I Glass. Barclays dropped their target price on the stock from $18.00 to $16.00 and set an "equal weight" rating on the stock Wells Fargo & Company cut their price target on the stock from $28.00 to $22.00 and set an "overweight" rating on the stock Citigroup lowered the stock's rating from "buy" to "neutral" and increased the price target from $17.00 to $18.00 Truist Financial raised the price target on the stock from $21.00 to $22.00 and gave it a "buy" rating UBS Group initiated coverage on the stock with a "buy" rating and a $26.00 price target Overall, O-I Glass currently has an average rating of "Hold" and an average price target of $23.18.
O-I Glass company profile
O-I Glass, Inc. is a company that manufactures and sells glass containers primarily to food and beverage manufacturers 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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