Huber Capital Management LLC Has $9.57 Million Position in O-I Glass, Inc. $OI

Key Points

• Huber Capital Management increased its stake in O-I Glass by 53.8% in Q3 to 737,527 shares valued at approximately $9.57 million, making O-I about 1.5% of Huber's portfolio and the firm's 23rd-largest holding; institutional investors own roughly 97.24% of the stock.
• Multiple analysts have grown more positive—Bank of America, Truist and Wells Fargo among those raising ratings/targets—and the consensus rating is a Moderate Buy with a average price target of $18.11.
• O-I Glass has a market cap of about $1.65 billion, a negative P/E (-12.94) and high leverage (debt/equity 3.35); shares trade near $10.84 after a quarter where EPS of $0.20 beat estimates while revenue slightly missed.

Huber Capital Management LLC lifted its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 53.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 737,527 shares of the industrial products company's stock after acquiring an additional 257,962 shares during the period. O-I Glass makes up about 1.5% of Huber Capital Management LLC's investment portfolio, making the stock its 23rd biggest position. Huber Capital Management LLC owned 0.48% of O-I Glass worth $9,566,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Royal Bank of Canada increased its stake in shares of O-I Glass by 33.9% in the first quarter. Royal Bank of Canada now owns 112,800 shares of the industrial products company's stock valued at $1,294,000 after buying an additional 28,548 shares in the last quarter. AQR Capital Management LLC lifted its stake in O-I Glass by 154.0% in the first quarter. AQR Capital Management LLC now owns 177,117 shares of the industrial products company's stock valued at $1,993,000 after buying an additional 107,388 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of O-I Glass by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,151 shares of the industrial products company's stock valued at $1,057,000 after acquiring an additional 4,055 shares during the last quarter. United Services Automobile Association acquired a new position in O-I Glass during the first quarter valued at approximately $119,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in O-I Glass by 43.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 526,279 shares of the industrial products company's stock worth $6,036,000 after purchasing an additional 160,649 shares during the period. 97.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on OI shares. Bank of America upgraded O-I Glass from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $14.00 to $17.00 in a report on Monday, November 17th. Truist Financial upped their target price on shares of O-I Glass from $17.00 to $21.00 and gave the stock a "buy" rating in a research note on Tuesday, January 6th. Royal Bank Of Canada dropped their price target on O-I Glass from $19.00 to $18.00 and set an "outperform" rating on the stock in a research note on Thursday, February 26th. Wells Fargo & Company upgraded O-I Glass from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $15.00 to $18.00 in a report on Tuesday, January 6th. Finally, Robert W. Baird set a $20.00 price target on shares of O-I Glass in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.11.

O-I Glass Stock Performance

NYSE OI traded down $0.15 during trading on Friday, reaching $10.84. The company's stock had a trading volume of 59,835 shares, compared to its average volume of 2,031,633. O-I Glass, Inc. has a 12 month low of $9.23 and a 12 month high of $16.91. The firm has a 50 day moving average price of $14.68 and a 200 day moving average price of $13.70. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 3.35. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of -12.94, a price-to-earnings-growth ratio of 0.53 and a beta of 0.82.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings results on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The company had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.52 billion. O-I Glass had a positive return on equity of 18.07% and a negative net margin of 2.01%.The business's quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) earnings per share. As a group, equities analysts anticipate 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.

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