O-I Glass, Inc. (NYSE:OI) Shares Acquired by Private Management Group Inc.

Private Management Group Inc. increased its holdings in shares of O-I Glass, Inc. (NYSE:OI) by 20.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,025,731 shares of the industrial products company’s stock after acquiring an additional 520,452 shares during the period. O-I Glass makes up about 1.4% of Private Management Group Inc.’s portfolio, making the stock its 14th largest holding. Private Management Group Inc. owned 1.94% of O-I Glass worth $39,698,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of OI. Fidelis Capital Partners LLC acquired a new position in O-I Glass during the first quarter worth $33,000. FinTrust Capital Advisors LLC acquired a new position in shares of O-I Glass during the 1st quarter worth about $38,000. Headlands Technologies LLC purchased a new position in O-I Glass in the 1st quarter valued at about $39,000. GAMMA Investing LLC boosted its holdings in O-I Glass by 371.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock worth $32,000 after buying an additional 1,892 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its holdings in O-I Glass by 1,337.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock worth $32,000 after buying an additional 2,675 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OI. Royal Bank of Canada decreased their target price on O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday. Wells Fargo & Company decreased their price objective on O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.00 to $16.00 in a report on Thursday, October 17th. UBS Group reduced their target price on shares of O-I Glass from $26.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, Barclays lowered their price target on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, O-I Glass currently has a consensus rating of “Moderate Buy” and an average target price of $16.25.

Insider Buying and Selling at O-I Glass

In other news, Director John Humphrey purchased 15,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $11.30 per share, for a total transaction of $169,500.00. Following the completion of the purchase, the director now directly owns 84,227 shares of the company’s stock, valued at approximately $951,765.10. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.49% of the company’s stock.

O-I Glass Trading Up 1.2 %

Shares of O-I Glass stock traded up $0.13 during mid-day trading on Friday, hitting $11.24. The stock had a trading volume of 1,546,093 shares, compared to its average volume of 1,690,838. The firm has a 50-day moving average of $12.67 and a two-hundred day moving average of $12.44. The firm has a market cap of $1.75 billion, a P/E ratio of -4.07 and a beta of 1.17. The company has a quick ratio of 0.75, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. O-I Glass, Inc. has a 12-month low of $10.08 and a 12-month high of $17.58.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. O-I Glass’s revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business earned $0.80 EPS. Sell-side analysts forecast that O-I Glass, Inc. will post 0.75 earnings per share 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.