O-I Glass, Inc. $OI Shares Sold by LSV Asset Management

LSV Asset Management cut its stake in shares of O-I Glass, Inc. (NYSE:OI) by 6.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,602,478 shares of the industrial products company’s stock after selling 117,986 shares during the period. LSV Asset Management owned approximately 1.04% of O-I Glass worth $20,784,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of OI. Teacher Retirement System of Texas raised its stake in shares of O-I Glass by 3.9% during the second quarter. Teacher Retirement System of Texas now owns 23,495 shares of the industrial products company’s stock worth $346,000 after purchasing an additional 879 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in O-I Glass by 64.1% in the 2nd 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 period. KLP Kapitalforvaltning AS raised its position in O-I Glass by 3.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 33,600 shares of the industrial products company’s stock worth $495,000 after buying an additional 1,000 shares during the last quarter. Amundi lifted its stake in shares of O-I Glass by 1.4% in the 2nd quarter. Amundi now owns 75,483 shares of the industrial products company’s stock worth $1,175,000 after acquiring an additional 1,031 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of O-I Glass by 3.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 35,267 shares of the industrial products company’s stock valued at $520,000 after acquiring an additional 1,093 shares in the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on OI shares. Zacks Research cut shares of O-I Glass from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Wall Street Zen cut O-I Glass from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Truist Financial raised their price target on O-I Glass from $17.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. UBS Group restated a “buy” rating and issued a $21.00 price target on shares of O-I Glass in a research note on Thursday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $19.00 price objective on shares of O-I Glass in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, O-I Glass presently has an average rating of “Moderate Buy” and a consensus target price of $18.22.

O-I Glass Price Performance

OI stock opened at $14.76 on Friday. The firm has a 50 day moving average of $15.31 and a 200-day moving average of $13.69. The company has a market cap of $2.27 billion, a price-to-earnings ratio of -17.57, a PEG ratio of 0.19 and a beta of 0.78. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 3.35. O-I Glass, Inc. has a 12-month low of $9.23 and a 12-month high of $16.91.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share 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 the consensus estimate of $1.52 billion. O-I Glass had a positive return on equity of 18.07% and a negative net margin of 2.01%.O-I Glass’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the business posted ($0.05) EPS. As a group, equities analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

O-I Glass Company Profile

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.