O-I Glass, Inc. $OI Stock Position Reduced by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its position in O-I Glass, Inc. (NYSE:OI) by 7.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,416 shares of the industrial products company’s stock after selling 3,921 shares during the quarter. PNC Financial Services Group Inc.’s holdings in O-I Glass were worth $714,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. American Century Companies Inc. lifted its position in shares of O-I Glass by 11.0% in the 1st quarter. American Century Companies Inc. now owns 326,153 shares of the industrial products company’s stock worth $3,741,000 after buying an additional 32,339 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in O-I Glass during the first quarter worth about $658,000. Charles Schwab Investment Management Inc. raised its stake in O-I Glass by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,992,887 shares of the industrial products company’s stock worth $22,858,000 after acquiring an additional 144,030 shares during the period. Nuveen LLC bought a new position in O-I Glass in the first quarter worth about $10,738,000. Finally, Knights of Columbus Asset Advisors LLC acquired a new position in O-I Glass in the second quarter valued at approximately $1,329,000. 97.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on OI. Truist Financial dropped their price target on O-I Glass from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Weiss Ratings restated a “sell (d-)” rating on shares of O-I Glass in a research note on Wednesday, October 8th. Zacks Research cut O-I Glass from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Wells Fargo & Company boosted their price target on shares of O-I Glass from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. Finally, Wall Street Zen raised shares of O-I Glass from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.67.

O-I Glass Trading Up 3.8%

Shares of OI stock opened at $13.20 on Friday. O-I Glass, Inc. has a 1 year low of $9.23 and a 1 year high of $16.04. The firm has a market capitalization of $2.03 billion, a PE ratio of -8.00, a price-to-earnings-growth ratio of 0.22 and a beta of 0.89. The stock has a fifty day moving average of $12.54 and a two-hundred day moving average of $13.33. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.77 and a current ratio of 1.24.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Wednesday, March 1st. The industrial products company reported $0.36 earnings per share for the quarter. The business had revenue of $1.59 billion for the quarter. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. As a group, research analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current 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.