Lee Danner & Bass Inc. Sells 18,145 Shares of O-I Glass, Inc. (NYSE:OI)

Lee Danner & Bass Inc. decreased its stake in shares of O-I Glass, Inc. (NYSE:OI) by 14.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 107,530 shares of the industrial products company’s stock after selling 18,145 shares during the quarter. Lee Danner & Bass Inc. owned about 0.07% of O-I Glass worth $1,761,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI grew its holdings in shares of O-I Glass by 23.8% during the third quarter. National Bank of Canada FI now owns 10,405 shares of the industrial products company’s stock valued at $171,000 after buying an additional 2,000 shares during the last quarter. SG Americas Securities LLC acquired a new position in O-I Glass during the 3rd quarter valued at about $1,425,000. Carolina Wealth Advisors LLC boosted its stake in O-I Glass by 6.7% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 26,501 shares of the industrial products company’s stock valued at $443,000 after purchasing an additional 1,659 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in O-I Glass during the 3rd quarter worth approximately $250,000. Finally, Bfsg LLC purchased a new stake in shares of O-I Glass in the third quarter worth approximately $237,000. 97.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Truist Financial reaffirmed a “buy” rating and set a $20.00 target price on shares of O-I Glass in a research report on Monday, March 25th. Citigroup lowered shares of O-I Glass from a “buy” rating to a “neutral” rating and upped their target price for the stock from $17.00 to $18.00 in a research note on Wednesday, January 3rd. Bank of America reiterated a “neutral” rating and issued a $16.00 target price (down previously from $21.00) on shares of O-I Glass in a report on Friday. Barclays boosted their price target on shares of O-I Glass from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 13th. Finally, UBS Group began coverage on shares of O-I Glass in a research report on Tuesday, January 16th. They issued a “buy” rating and a $26.00 price objective for the company. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, O-I Glass currently has an average rating of “Hold” and a consensus target price of $22.67.

O-I Glass Stock Performance

OI opened at $14.81 on Tuesday. O-I Glass, Inc. has a fifty-two week low of $13.56 and a fifty-two week high of $23.57. The firm has a 50-day moving average of $16.16 and a 200 day moving average of $15.64. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.77 and a current ratio of 1.23.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, February 6th. The industrial products company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. O-I Glass had a negative net margin of 1.45% and a positive return on equity of 24.90%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the company earned $0.38 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, sell-side analysts forecast that O-I Glass, Inc. will post 2.33 EPS for the current fiscal year.

About O-I Glass

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.