O-I Glass, Inc. $OI Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management increased its O-I Glass stake by 57% in the second quarter, acquiring 170,764 additional shares and bringing its holdings to 470,229 shares worth approximately $4.5 million. Institutional investors and hedge funds own 97.24% of the company.
• O-I Glass shares opened at $6.65, near the company’s 52-week low, after falling 1.4%. The company reported quarterly EPS of $0.09, missing estimates of $0.24, while revenue declined 2.2% year over year to $1.67 billion.
• Analyst sentiment is mixed, with the stock carrying a consensus rating of “Hold” and an average price target of $10.31; several firms recently cut their price targets or downgraded the shares.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 57.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 470,229 shares of the industrial products company's stock after purchasing an additional 170,764 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.31% of O-I Glass worth $4,528,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. boosted its holdings in shares of O-I Glass by 1.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 37,828 shares of the industrial products company's stock valued at $558,000 after purchasing an additional 701 shares during the last quarter. Barclays PLC boosted its holdings in O-I Glass by 0.3% in the 4th quarter. Barclays PLC now owns 246,766 shares of the industrial products company's stock worth $3,642,000 after acquiring an additional 755 shares during the period. ProShare Advisors LLC boosted its stake in shares of O-I Glass by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 29,887 shares of the industrial products company's stock valued at $441,000 after purchasing an additional 911 shares during the period. Smartleaf Asset Management LLC boosted its position in O-I Glass by 64.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company's stock valued at $35,000 after buying an additional 918 shares during the last quarter. Finally, Amundi boosted its holdings in O-I Glass by 1.4% in the second quarter. Amundi now owns 75,483 shares of the industrial products company's stock valued at $1,175,000 after purchasing an additional 1,031 shares during the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.

O-I Glass Trading Down 1.4%

Shares of NYSE:OI opened at $6.65 on Thursday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -0.88, a PEG ratio of 2.40 and a beta of 0.66. O-I Glass, Inc. has a 1-year low of $6.29 and a 1-year high of $16.91. The company has a 50 day moving average price of $7.93 and a 200 day moving average price of $9.35. The company has a debt-to-equity ratio of 8.89, a quick ratio of 0.77 and a current ratio of 1.26.

O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.15). The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.68 billion. O-I Glass had a negative net margin of 18.13% and a positive return on equity of 10.40%. O-I Glass's revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company posted $0.53 EPS. On average, research analysts anticipate that O-I Glass, Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Weiss Ratings upgraded shares of O-I Glass from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, August 14th. Royal Bank Of Canada downgraded shares of O-I Glass from an "outperform" rating to a "sector perform" rating and lowered their price objective for the company from $10.00 to $8.00 in a research report on Thursday, August 13th. Truist Financial lowered their price objective on O-I Glass from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. UBS Group dropped their price target on shares of O-I Glass from $15.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Finally, BNP Paribas Exane lowered O-I Glass from an "outperform" rating to a "neutral" rating and set a $8.50 price target on the stock. in a report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $10.31.

About O-I Glass

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.

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