IPG Investment Advisors LLC Increases Position in O-I Glass, Inc. (NYSE:OI)

Key Points

• IPG Investment Advisors LLC increased its stake in O-I Glass by 11.4%, making it the fund's second largest position at 5.3% of its portfolio.
• This quarter, several other investors also boosted their positions in O-I Glass, with GAMMA Investing LLC increasing its stake by 79.3% and Sterling Capital Management LLC by 807.2%.
• O-I Glass reported earnings per share of $0.53 for the quarter, exceeding expectations and showing a 1.3% decline in revenue year-over-year.

IPG Investment Advisors LLC lifted its holdings in O-I Glass, Inc. (NYSE:OI - Free Report) by 11.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,050,708 shares of the industrial products company's stock after acquiring an additional 210,040 shares during the period. O-I Glass makes up approximately 5.3% of IPG Investment Advisors LLC's investment portfolio, making the stock its 2nd largest position. IPG Investment Advisors LLC owned about 1.33% of O-I Glass worth $23,522,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Sei Investments Co. lifted its holdings in shares of O-I Glass by 112.8% during the 4th quarter. Sei Investments Co. now owns 93,174 shares of the industrial products company's stock worth $1,010,000 after acquiring an additional 49,383 shares during the period. Principal Financial Group Inc. lifted its stake in O-I Glass by 2.3% during the first quarter. Principal Financial Group Inc. now owns 767,260 shares of the industrial products company's stock worth $8,800,000 after purchasing an additional 17,254 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of O-I Glass by 117.7% in the 1st quarter. SG Americas Securities LLC now owns 45,766 shares of the industrial products company's stock valued at $525,000 after purchasing an additional 24,743 shares in the last quarter. Northern Trust Corp increased its stake in shares of O-I Glass by 8.5% in the 4th quarter. Northern Trust Corp now owns 1,738,277 shares of the industrial products company's stock valued at $18,843,000 after purchasing an additional 135,989 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of O-I Glass by 79.3% in the 1st 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 during the last quarter. 97.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. BNP Paribas set a $18.00 price objective on O-I Glass in a research note on Wednesday, June 25th. BNP Paribas Exane initiated coverage on shares of O-I Glass in a research note on Wednesday, June 25th. They issued an "outperform" rating and a $18.00 price target on the stock. UBS Group reiterated a "buy" rating and set a $19.00 price objective (up from $17.00) on shares of O-I Glass in a research report on Wednesday, July 9th. 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. Finally, Bank of America reiterated a "neutral" rating and issued a $17.00 price target (up from $15.00) on shares of O-I Glass in a research note on Wednesday, July 9th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, O-I Glass has an average rating of "Moderate Buy" and a consensus price target of $17.00.

O-I Glass Trading Up 3.0%

NYSE OI traded up $0.39 on Thursday, reaching $13.37. The company had a trading volume of 704,948 shares, compared to its average volume of 1,568,394. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -8.11, a P/E/G ratio of 0.25 and a beta of 0.92. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.24 and a quick ratio of 0.77. O-I Glass, Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $16.04. The business has a 50 day moving average of $14.23 and a two-hundred day moving average of $12.64.

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

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.