Markel Group Inc. increased its stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 874,100 shares of the industrial products company's stock after purchasing an additional 50,000 shares during the quarter. Markel Group Inc. owned approximately 0.57% of O-I Glass worth $10,026,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OI. Cooper Creek Partners Management LLC raised its position in O-I Glass by 18.2% during the fourth quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company's stock valued at $120,132,000 after acquiring an additional 1,705,216 shares in the last quarter. Millennium Management LLC increased its stake in shares of O-I Glass by 251.7% during the 4th quarter. Millennium Management LLC now owns 1,458,102 shares of the industrial products company's stock worth $15,806,000 after purchasing an additional 1,043,570 shares during the last quarter. Mesirow Institutional Investment Management Inc. bought a new stake in O-I Glass in the fourth quarter worth $10,885,000. Boothbay Fund Management LLC raised its holdings in O-I Glass by 213.3% during the fourth quarter. Boothbay Fund Management LLC now owns 1,218,593 shares of the industrial products company's stock valued at $13,210,000 after buying an additional 829,662 shares in the last quarter. Finally, Segall Bryant & Hamill LLC increased its holdings in shares of O-I Glass by 31.5% during the 4th quarter. Segall Bryant & Hamill LLC now owns 3,242,750 shares of the industrial products company's stock valued at $35,151,000 after acquiring an additional 777,036 shares during the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on OI. Wells Fargo & Company cut shares of O-I Glass from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $16.00 to $15.00 in a research note on Friday. Wall Street Zen upgraded O-I Glass from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Barclays lifted their price target on O-I Glass from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. BNP Paribas set a $18.00 price target on shares of O-I Glass in a research report on Wednesday, June 25th. Finally, BNP Paribas Exane initiated coverage on shares of O-I Glass in a report on Wednesday, June 25th. They set an "outperform" rating and a $18.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $17.20.
Read Our Latest Analysis on OI
O-I Glass Price Performance
Shares of OI stock traded up $0.03 during trading hours on Monday, hitting $14.36. 1,152,841 shares of the company's stock were exchanged, compared to its average volume of 1,516,718. The stock's 50-day moving average is $14.14 and its 200-day moving average is $12.36. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 0.29 and a beta of 0.97. The company has a debt-to-equity ratio of 3.83, a current ratio of 1.24 and a quick ratio of 0.73. O-I Glass, Inc. has a 52 week low of $9.23 and a 52 week high of $16.04.
O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.22. O-I Glass had a negative net margin of 2.98% and a positive return on equity of 8.48%. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. O-I Glass's revenue for the quarter was up .4% compared to the same quarter last year. As a group, research analysts forecast that O-I Glass, Inc. will post 1.33 EPS for the current year.
O-I Glass Company Profile
(
Free Report)
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.
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