O-I Glass, Inc. (NYSE:OI) Shares Sold by LSV Asset Management

Key Points

• LSV Asset Management has reduced its stake in O-I Glass, Inc. by 2.5%, selling 57,400 shares, and now owns approximately 1.42% of the company valued at $25.2 million.
• O-I Glass reported a quarterly earnings beat, with earnings per share (EPS) of $0.53, exceeding analysts' expectations, despite a 1.3% decline in revenue year-over-year.
• Analysts remain optimistic about O-I Glass, with an average rating of "Moderate Buy" and a consensus price target of $17.11.

LSV Asset Management decreased its position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 2.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,198,613 shares of the industrial products company's stock after selling 57,400 shares during the period. LSV Asset Management owned approximately 1.42% of O-I Glass worth $25,218,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in O-I Glass by 79.3% during the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock valued at $30,000 after buying an additional 1,142 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in shares of O-I Glass by 807.2% in the fourth quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 4,343 shares during the period. Point72 Asset Management L.P. bought a new position in O-I Glass in the fourth quarter worth approximately $89,000. CWM LLC grew its stake in O-I Glass by 623.9% in the first quarter. CWM LLC now owns 8,390 shares of the industrial products company's stock worth $96,000 after purchasing an additional 7,231 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in O-I Glass during the 4th quarter worth $106,000. Hedge funds and other institutional investors own 97.24% of the company's stock.

O-I Glass Stock Performance

Shares of O-I Glass stock traded up $0.39 on Thursday, reaching $13.37. 704,948 shares of the stock were exchanged, compared to its average volume of 1,568,394. The business has a 50 day moving average price of $14.23 and a two-hundred day moving average price of $12.64. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -8.11, a PEG ratio of 0.25 and a beta of 0.92. O-I Glass, Inc. has a twelve month low of $9.23 and a twelve month high of $16.04. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 3.58.

O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.41 by $0.12. The business had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.70 billion. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. The business's quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 EPS. Analysts anticipate that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OI has been the topic of a number of recent research reports. BNP Paribas set a $18.00 price target on O-I Glass in a research report on Wednesday, June 25th. UBS Group reiterated a "buy" rating and set a $19.00 target price (up from $17.00) on shares of O-I Glass in a report on Wednesday, July 9th. Citigroup raised their target price on shares of O-I Glass from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. Wells Fargo & Company reaffirmed a "mixed" rating on shares of O-I Glass in a research report on Monday. Finally, Barclays lifted their target price on O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $17.00.

O-I Glass Company 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.