Illinois Municipal Retirement Fund Raises Holdings in O-I Glass, Inc. (NYSE:OI)

Illinois Municipal Retirement Fund lifted its holdings in shares of O-I Glass, Inc. (NYSE:OI) by 4.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,685 shares of the industrial products company’s stock after buying an additional 4,363 shares during the period. Illinois Municipal Retirement Fund owned about 0.06% of O-I Glass worth $1,538,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of OI. Fidelis Capital Partners LLC purchased a new position in shares of O-I Glass during the 1st quarter worth approximately $33,000. TFO Wealth Partners LLC increased its stake in O-I Glass by 24,311.1% in the 4th 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. FinTrust Capital Advisors LLC purchased a new position in O-I Glass in the 1st quarter valued at approximately $38,000. International Assets Investment Management LLC increased its stake in O-I Glass by 1,538.0% in the 4th 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. Finally, Quadrant Capital Group LLC increased its stake in O-I Glass by 37.3% in the 4th quarter. Quadrant Capital Group LLC now owns 5,168 shares of the industrial products company’s stock valued at $85,000 after purchasing an additional 1,404 shares in the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on OI shares. StockNews.com downgraded O-I Glass from a “hold” rating to a “sell” rating in a research note on Tuesday, July 9th. Bank of America reaffirmed a “neutral” rating and issued a $16.00 price objective (down from $21.00) on shares of O-I Glass in a research note on Friday, April 19th. Barclays dropped their price objective on O-I Glass from $18.00 to $15.00 and set an “equal weight” rating for the company in a research note on Monday, May 6th. Truist Financial reiterated a “buy” rating and set a $17.00 target price (down previously from $20.00) on shares of O-I Glass in a report on Thursday, May 2nd. Finally, Royal Bank of Canada lowered their target price on O-I Glass from $25.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $18.89.

O-I Glass Price Performance

Shares of NYSE:OI opened at $11.36 on Monday. The company has a market cap of $1.77 billion, a P/E ratio of -7.14, a P/E/G ratio of 1.08 and a beta of 1.25. The company has a quick ratio of 0.56, a current ratio of 1.02 and a debt-to-equity ratio of 2.26. O-I Glass, Inc. has a 52 week low of $10.08 and a 52 week high of $23.57. The business has a fifty day simple moving average of $12.01 and a 200-day simple moving average of $14.39.

O-I Glass (NYSE:OI) last announced its quarterly earnings data 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. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.69 billion. O-I Glass had a positive return on equity of 18.25% and a negative net margin of 3.45%. The business’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 earnings per share. Equities research analysts forecast that O-I Glass, Inc. will post 1.71 EPS for the current 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.