IPG Investment Advisors LLC Acquires 210,040 Shares of 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 raised its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 11.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,050,708 shares of the industrial products company's stock after acquiring an additional 210,040 shares during the quarter. O-I Glass comprises approximately 5.3% of IPG Investment Advisors LLC's portfolio, making the stock its 2nd biggest holding. IPG Investment Advisors LLC owned approximately 1.33% of O-I Glass worth $23,522,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of OI. 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 last quarter. Principal Financial Group Inc. increased its position in shares of O-I Glass by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 767,260 shares of the industrial products company's stock valued at $8,800,000 after purchasing an additional 17,254 shares during the last quarter. SG Americas Securities LLC increased its position in shares of O-I Glass by 117.7% during 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 during the last quarter. Northern Trust Corp increased its position in shares of O-I Glass by 8.5% during 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 position in shares of 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 purchasing an additional 1,142 shares during the last quarter. Institutional investors own 97.24% of the company's stock.

O-I Glass Stock Up 0.5%

OI traded up $0.06 during trading on Tuesday, hitting $13.00. The stock had a trading volume of 1,327,444 shares, compared to its average volume of 1,963,344. The company has a market capitalization of $2.00 billion, a PE ratio of -7.88, a PEG ratio of 0.25 and a beta of 0.92. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.77 and a current ratio of 1.24. The stock has a 50 day simple moving average of $14.23 and a two-hundred day simple moving average of $12.63. O-I Glass, Inc. has a twelve month low of $9.23 and a twelve month high of $16.04.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings results 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. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the company earned $0.44 earnings per share. The firm's revenue was down 1.3% on a year-over-year basis. On average, research analysts predict that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

Analysts Set New Price Targets

OI has been the subject of several analyst reports. Citigroup upped their price target 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 lowered their price target on O-I Glass from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Monday. Wall Street Zen upgraded shares of O-I Glass from a "hold" rating to a "buy" rating in a report on Sunday, June 29th. UBS Group reissued a "buy" rating and issued a $19.00 price target (up from $17.00) on shares of O-I Glass in a research note on Wednesday, July 9th. Finally, Bank of America reissued 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. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.00.

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.