Brandywine Global Investment Management LLC Sells 11,554 Shares of O-I Glass, Inc. (NYSE:OI)

Brandywine Global Investment Management LLC decreased its stake in shares of O-I Glass, Inc. (NYSE:OIGet Rating) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 501,485 shares of the industrial products company’s stock after selling 11,554 shares during the period. Brandywine Global Investment Management LLC’s holdings in O-I Glass were worth $7,021,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Mutual of America Capital Management LLC raised its holdings in O-I Glass by 4.7% in the first quarter. Mutual of America Capital Management LLC now owns 22,425 shares of the industrial products company’s stock worth $296,000 after buying an additional 999 shares during the last quarter. Victory Capital Management Inc. raised its holdings in O-I Glass by 59.7% in the first quarter. Victory Capital Management Inc. now owns 53,993 shares of the industrial products company’s stock worth $728,000 after buying an additional 20,176 shares during the last quarter. Prospera Financial Services Inc purchased a new position in O-I Glass in the first quarter worth about $33,000. Advisor Group Holdings Inc. raised its holdings in O-I Glass by 3.3% in the first quarter. Advisor Group Holdings Inc. now owns 34,345 shares of the industrial products company’s stock worth $929,000 after buying an additional 1,107 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in O-I Glass by 63.5% in the first quarter. Russell Investments Group Ltd. now owns 317,200 shares of the industrial products company’s stock worth $4,179,000 after buying an additional 123,196 shares during the last quarter. Institutional investors own 93.44% of the company’s stock.

O-I Glass Price Performance

OI stock opened at $16.73 on Thursday. O-I Glass, Inc. has a one year low of $10.64 and a one year high of $17.94. The company’s fifty day moving average price is $15.18 and its 200-day moving average price is $14.60. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.78 and a current ratio of 1.16. The company has a market capitalization of $2.60 billion, a PE ratio of 4.33, a price-to-earnings-growth ratio of 2.46 and a beta of 1.42.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OI. Wells Fargo & Company lifted their price target on shares of O-I Glass from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 12th. Bank of America reduced their price target on shares of O-I Glass from $18.00 to $17.00 in a research note on Thursday, October 13th. Barclays lifted their price target on shares of O-I Glass from $12.00 to $13.00 and gave the stock an “underweight” rating in a research note on Monday, November 14th. StockNews.com lowered shares of O-I Glass from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 5th. Finally, Citigroup boosted their target price on shares of O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, October 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $15.86.

O-I Glass Profile

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O-I Glass, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in the Americas, Europe, and the Asia Pacific. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. It is also involved in the production of glass packaging for various food items, soft drinks, tea, juices, and pharmaceuticals.

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Institutional Ownership by Quarter for O-I Glass (NYSE:OI)

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