Allspring Global Investments Holdings LLC Reduces Stake in O-I Glass, Inc. (NYSE:OI)

Allspring Global Investments Holdings LLC lessened its holdings in O-I Glass, Inc. (NYSE:OI) by 84.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 26,054 shares of the industrial products company’s stock after selling 146,511 shares during the period. Allspring Global Investments Holdings LLC’s holdings in O-I Glass were worth $280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of O-I Glass by 18.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company’s stock valued at $8,130,000 after buying an additional 94,671 shares in the last quarter. Highland Peak Capital LLC purchased a new stake in O-I Glass in the third quarter valued at about $27,132,000. Barclays PLC boosted its stake in O-I Glass by 349.3% in the 3rd 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. Maverick Capital Ltd. purchased a new stake in shares of O-I Glass during the third quarter valued at $1,264,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of O-I Glass during the third quarter valued at $32,350,000. Institutional investors own 97.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on OI shares. StockNews.com upgraded O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Barclays dropped their target price on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Royal Bank of Canada lowered their target price on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Bank of America boosted their target price 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. Finally, Wells Fargo & Company decreased their target price on 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. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, O-I Glass currently has an average rating of “Moderate Buy” and an average price target of $15.38.

O-I Glass Stock Up 0.8 %

OI stock opened at $11.44 on Wednesday. The company’s 50 day moving average price is $10.98 and its 200 day moving average price is $11.96. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -16.11, a PEG ratio of 0.24 and a beta of 1.22. O-I Glass, Inc. has a fifty-two week low of $9.85 and a fifty-two week high of $17.58. 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) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates 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%. On average, equities research analysts anticipate that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

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.