Markel Group Inc. Increases Stock Holdings in O-I Glass, Inc. (NYSE:OI)

Markel Group Inc. increased its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 6.1% in the first quarter, according to its most recent disclosure 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 period. Markel Group Inc. owned 0.57% of O-I Glass worth $10,026,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its position in O-I Glass by 79.3% during the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 1,142 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of O-I Glass by 807.2% during 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. New Age Alpha Advisors LLC acquired a new stake in shares of O-I Glass in the 4th quarter worth about $86,000. Point72 Asset Management L.P. acquired a new stake in shares of O-I Glass in the 4th quarter worth about $89,000. Finally, CWM LLC increased its stake in O-I Glass by 623.9% in the 1st quarter. CWM LLC now owns 8,390 shares of the industrial products company's stock valued at $96,000 after buying an additional 7,231 shares during the last quarter. Institutional investors own 97.24% of the company's stock.

O-I Glass Stock Down 1.4%

Shares of NYSE:OI traded down $0.20 during trading hours on Friday, hitting $14.32. The company's stock had a trading volume of 1,135,667 shares, compared to its average volume of 1,518,393. O-I Glass, Inc. has a 52 week low of $9.23 and a 52 week high of $16.04. The company has a debt-to-equity ratio of 3.83, a current ratio of 1.24 and a quick ratio of 0.73. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -11.37, a P/E/G ratio of 0.29 and a beta of 0.97. The firm's fifty day moving average price is $14.14 and its 200 day moving average price is $12.34.

O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.22. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.55 billion. O-I Glass had a negative net margin of 2.98% and a positive return on equity of 8.48%. The company's quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 EPS. As a group, research analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Citigroup raised their price objective on shares of O-I Glass from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Wall Street Zen upgraded shares of O-I Glass from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. UBS Group reissued a "buy" rating and issued a $19.00 price target (up previously from $17.00) on shares of O-I Glass in a report on Wednesday, July 9th. Wells Fargo & Company downgraded shares of O-I Glass from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $16.00 to $15.00 in a research report on Friday. Finally, Bank of America reaffirmed a "neutral" rating and set a $17.00 target price (up previously from $15.00) on shares of O-I Glass in a research note on Wednesday, July 9th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, O-I Glass has a consensus rating of "Moderate Buy" and an average target price of $17.20.

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.