O-I Glass, Inc. $OI Shares Sold by JPMorgan Chase & Co.

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

A number of other large investors have also recently bought and sold shares of OI. Headlands Technologies LLC purchased a new position in O-I Glass during the 2nd quarter worth $29,000. State of Wyoming purchased a new stake in shares of O-I Glass in the second quarter valued at about $35,000. Smartleaf Asset Management LLC raised 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 buying an additional 918 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of O-I Glass during the third quarter worth about $85,000. Finally, Osaic Holdings Inc. boosted its stake in shares of O-I Glass by 29.7% during the second quarter. Osaic Holdings Inc. now owns 6,779 shares of the industrial products company’s stock worth $100,000 after buying an additional 1,554 shares during the period. Institutional investors and hedge funds own 97.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OI. Wall Street Zen cut O-I Glass from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Robert W. Baird set a $20.00 price objective on O-I Glass in a research report on Thursday, February 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of O-I Glass in a research note on Thursday, January 22nd. Truist Financial boosted their target price on O-I Glass from $17.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Finally, Royal Bank Of Canada cut their price target on O-I Glass from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.56.

O-I Glass Stock Performance

NYSE:OI opened at $10.26 on Friday. The firm’s fifty day simple moving average is $13.56 and its 200-day simple moving average is $13.51. 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 stock has a market cap of $1.56 billion, a PE ratio of -12.21, a price-to-earnings-growth ratio of 0.69 and a beta of 0.82. O-I Glass, Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $16.91.

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

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.