JPMorgan Chase & Co. Lowers Stake in O-I Glass, Inc. $OI

JPMorgan Chase & Co. lessened its stake in O-I Glass, Inc. (NYSE:OI) by 6.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,072,321 shares of the industrial products company’s stock after selling 73,659 shares during the period. JPMorgan Chase & Co. owned 0.70% of O-I Glass worth $13,908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas grew its stake in O-I Glass by 3.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 23,495 shares of the industrial products company’s stock worth $346,000 after acquiring an additional 879 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of O-I Glass by 64.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 918 shares during the period. Amundi grew its stake in O-I Glass by 1.4% in the second quarter. Amundi now owns 75,483 shares of the industrial products company’s stock worth $1,175,000 after purchasing an additional 1,031 shares in the last quarter. Police & Firemen s Retirement System of New Jersey increased its holdings in O-I Glass by 3.2% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 35,267 shares of the industrial products company’s stock worth $520,000 after purchasing an additional 1,093 shares during the period. Finally, tru Independence LLC raised its position in O-I Glass by 0.4% during the 3rd quarter. tru Independence LLC now owns 353,443 shares of the industrial products company’s stock valued at $4,584,000 after purchasing an additional 1,245 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Down 1.0%

Shares of O-I Glass stock opened at $12.42 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 3.35. The company has a market cap of $1.89 billion, a P/E ratio of -14.79, a PEG ratio of 0.58 and a beta of 0.82. The firm’s 50 day moving average price is $15.09 and its 200-day moving average price is $13.77. O-I Glass, Inc. has a 52-week low of $9.23 and a 52-week high of $16.91.

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.52 billion. O-I Glass had a negative net margin of 2.01% and a positive return on equity of 18.07%. O-I Glass’s revenue was down 1.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) earnings per share. On average, sell-side analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

OI has been the topic of a number of recent research reports. Wells Fargo & Company raised O-I Glass from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $15.00 to $18.00 in a research report on Tuesday, January 6th. Zacks Research downgraded shares of O-I Glass from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Truist Financial boosted their price target on shares of O-I Glass from $17.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Bank of America upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.00 to $17.00 in a research note on Monday, November 17th. Finally, UBS Group reissued a “buy” rating and issued a $21.00 price objective on shares of O-I Glass in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.11.

About O-I Glass

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.