Principal Financial Group Inc. grew its holdings in O-I Glass, Inc. (NYSE:OI - Free Report) by 2.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 767,260 shares of the industrial products company's stock after acquiring an additional 17,254 shares during the period. Principal Financial Group Inc. owned about 0.50% of O-I Glass worth $8,800,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Cooper Creek Partners Management LLC boosted its stake in O-I Glass by 18.2% during the 4th 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 purchasing an additional 1,705,216 shares during the period. Millennium Management LLC boosted its stake in 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 valued at $15,806,000 after purchasing an additional 1,043,570 shares during the period. Mesirow Institutional Investment Management Inc. acquired a new position in O-I Glass during the 4th quarter valued at about $10,885,000. Boothbay Fund Management LLC raised its position in shares of O-I Glass by 213.3% during the 4th quarter. Boothbay Fund Management LLC now owns 1,218,593 shares of the industrial products company's stock worth $13,210,000 after buying an additional 829,662 shares in the last quarter. Finally, Segall Bryant & Hamill LLC raised its position 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 worth $35,151,000 after buying an additional 777,036 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company's stock.
O-I Glass Trading Down 1.0%
O-I Glass stock traded down $0.15 during trading hours on Friday, reaching $14.37. 536,546 shares of the company's stock traded hands, compared to its average volume of 1,515,374. The firm's 50 day moving average is $14.12 and its 200-day moving average is $12.32. O-I Glass, Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $16.04. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of -11.38, a PEG ratio of 0.29 and a beta of 0.97. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.73 and a current ratio of 1.24.
O-I Glass (NYSE:OI - Get Free Report) last issued its 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 for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the company earned $0.45 earnings per share. The firm's revenue for the quarter was up .4% on a year-over-year basis. On average, analysts predict that O-I Glass, Inc. will post 1.33 earnings per share for the current year.
Analyst Ratings Changes
A number of brokerages recently commented on OI. Wall Street Zen raised shares of O-I Glass from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Truist Financial set a $21.00 price target on shares of O-I Glass and gave the company a "buy" rating in a report on Friday, July 11th. Citigroup boosted their price target on shares of O-I Glass from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Bank of America reaffirmed a "neutral" rating and issued a $17.00 target price (up previously from $15.00) on shares of O-I Glass in a report on Wednesday, July 9th. Finally, UBS Group reaffirmed a "buy" rating and issued a $19.00 target price (up previously from $17.00) on shares of O-I Glass in a report on Wednesday, July 9th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $17.20.
Get Our Latest Analysis on O-I Glass
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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