tru Independence LLC Cuts Stake in O-I Glass, Inc. (NYSE:OI)

tru Independence LLC decreased its position in shares of O-I Glass, Inc. (NYSE:OI) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 323,698 shares of the industrial products company’s stock after selling 18,895 shares during the quarter. tru Independence LLC’s holdings in O-I Glass were worth $3,509,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in shares of O-I Glass by 35.3% during the 2nd quarter. American Century Companies Inc. now owns 213,392 shares of the industrial products company’s stock valued at $2,375,000 after acquiring an additional 55,701 shares during the last quarter. Sei Investments Co. boosted its holdings in O-I Glass by 18.0% in the second quarter. Sei Investments Co. now owns 78,982 shares of the industrial products company’s stock worth $879,000 after purchasing an additional 12,034 shares during the last quarter. Marshall Wace LLP purchased a new stake in O-I Glass in the second quarter worth approximately $2,551,000. Millennium Management LLC boosted its holdings in O-I Glass by 27.5% in the second quarter. Millennium Management LLC now owns 1,965,426 shares of the industrial products company’s stock worth $21,875,000 after purchasing an additional 424,102 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of O-I Glass by 4.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,898 shares of the industrial products company’s stock worth $934,000 after buying an additional 3,413 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

Wall Street Analyst Weigh In

OI has been the topic of several research reports. Citigroup dropped their target price on O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Barclays dropped their price target on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Bank of America lifted their target price on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada lowered their target price on O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $15.38.

O-I Glass Price Performance

O-I Glass stock opened at $11.82 on Monday. The company has a market cap of $1.83 billion, a price-to-earnings ratio of -4.20 and a beta of 1.21. The firm’s fifty day moving average is $11.23 and its 200 day moving average is $11.95. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. O-I Glass, Inc. has a 52-week low of $9.85 and a 52-week high of $17.58.

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the company posted $0.80 EPS. The company’s revenue was down 3.7% compared to the same quarter last year. Sell-side analysts forecast that O-I Glass, Inc. will post 0.75 EPS for the current fiscal year.

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.