Wedge Capital Management L L P NC Buys 12,871 Shares of O-I Glass, Inc. (NYSE:OI)

Wedge Capital Management L L P NC grew its holdings in O-I Glass, Inc. (NYSE:OI) by 40.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,064 shares of the industrial products company’s stock after acquiring an additional 12,871 shares during the quarter. Wedge Capital Management L L P NC’s holdings in O-I Glass were worth $738,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of OI. Covestor Ltd boosted its position in shares of O-I Glass by 259.7% in the third quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 1,205 shares during the period. Signaturefd LLC acquired a new position in O-I Glass in the third quarter valued at about $62,000. International Assets Investment Management LLC raised its stake in O-I Glass by 1,538.0% in the fourth quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 3,845 shares in the last quarter. National Bank of Canada FI raised its stake in O-I Glass by 23.8% in the third quarter. National Bank of Canada FI now owns 10,405 shares of the industrial products company’s stock valued at $171,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of O-I Glass by 29.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 10,289 shares of the industrial products company’s stock worth $172,000 after purchasing an additional 2,365 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Price Performance

O-I Glass stock opened at $14.85 on Friday. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.77 and a current ratio of 1.23. O-I Glass, Inc. has a 52-week low of $13.56 and a 52-week high of $23.57. The stock’s 50 day moving average price is $16.06 and its two-hundred day moving average price is $15.62.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. O-I Glass’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, equities analysts forecast that O-I Glass, Inc. will post 2.33 EPS for the current year.

Analysts Set New Price Targets

OI has been the topic of several research reports. Barclays boosted their price target on O-I Glass from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 13th. Truist Financial restated a “buy” rating and set a $20.00 price target on shares of O-I Glass in a report on Monday, March 25th. TheStreet cut O-I Glass from a “b-” rating to a “c-” rating in a report on Tuesday, February 6th. StockNews.com cut O-I Glass from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Finally, Citigroup cut O-I Glass from a “buy” rating to a “neutral” rating and upped their target price for the company from $17.00 to $18.00 in a report on Wednesday, January 3rd. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, O-I Glass has an average rating of “Hold” and a consensus price target of $22.67.

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.