tru Independence LLC Has $5.68 Million Stake in O-I Glass, Inc. (NYSE:OI)

tru Independence LLC reduced its holdings in O-I Glass, Inc. (NYSE:OI) by 2.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 342,263 shares of the industrial products company’s stock after selling 7,350 shares during the period. O-I Glass makes up about 1.7% of tru Independence LLC’s investment portfolio, making the stock its 22nd biggest position. tru Independence LLC owned approximately 0.22% of O-I Glass worth $5,678,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TFO Wealth Partners LLC increased its stake in O-I Glass by 24,311.1% in the fourth quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 2,188 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of 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. Quadrant Capital Group LLC boosted its position in shares of O-I Glass by 37.3% during the fourth quarter. Quadrant Capital Group LLC now owns 5,168 shares of the industrial products company’s stock worth $85,000 after buying an additional 1,404 shares during the period. Total Clarity Wealth Management Inc. bought a new position in shares of O-I Glass during the fourth quarter worth about $186,000. Finally, Camelot Portfolios LLC acquired a new stake in O-I Glass in the 4th quarter valued at approximately $213,000. 97.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Robert W. Baird decreased their price objective on O-I Glass from $28.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Barclays lowered their price target on O-I Glass from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Monday, May 6th. Bank of America reissued a “neutral” rating and issued a $16.00 price objective (down previously from $21.00) on shares of O-I Glass in a report on Friday, April 19th. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Friday, June 14th. Finally, Royal Bank of Canada reduced their price target on O-I Glass from $25.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.56.

O-I Glass Price Performance

NYSE:OI traded up $0.03 during trading hours on Tuesday, hitting $10.75. The company’s stock had a trading volume of 260,565 shares, compared to its average volume of 1,758,326. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.56 and a current ratio of 1.02. O-I Glass, Inc. has a twelve month low of $10.67 and a twelve month high of $23.57. The stock has a fifty day simple moving average of $12.68 and a 200-day simple moving average of $14.76.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. O-I Glass had a positive return on equity of 18.25% and a negative net margin of 3.45%. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the prior year, the company earned $1.29 EPS. O-I Glass’s revenue was down 13.0% compared to the same quarter last year. As a group, equities analysts anticipate that O-I Glass, Inc. will post 1.67 EPS for the current year.

About O-I Glass

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.