Teacher Retirement System of Texas bought a new position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 22,616 shares of the industrial products company's stock, valued at approximately $259,000.
A number of other large investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of O-I Glass by 79.3% in the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 1,142 shares in the last quarter. Sterling Capital Management LLC increased its holdings in O-I Glass by 807.2% in the fourth quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock valued at $53,000 after buying an additional 4,343 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in O-I Glass in the fourth quarter valued at $86,000. Point72 Asset Management L.P. purchased a new position in O-I Glass in the fourth quarter valued at $89,000. Finally, Point72 Hong Kong Ltd purchased a new position in O-I Glass in the fourth quarter valued at $106,000. 97.24% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
OI has been the topic of several research reports. BNP Paribas set a $18.00 price objective on O-I Glass in a report on Wednesday, June 25th. Truist Financial set a $21.00 price target on O-I Glass and gave the company a "buy" rating in a report on Friday, July 11th. BNP Paribas Exane assumed coverage on O-I Glass in a report on Wednesday, June 25th. They issued an "outperform" rating and a $18.00 price target for the company. Barclays boosted their price target on O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Finally, Citigroup boosted their price target on O-I Glass from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, O-I Glass has a consensus rating of "Moderate Buy" and a consensus price target of $17.20.
Get Our Latest Research Report on OI
O-I Glass Stock Up 1.3%
Shares of O-I Glass stock traded up $0.19 during midday trading on Wednesday, reaching $14.92. 1,122,571 shares of the company's stock traded hands, compared to its average volume of 1,518,701. The company has a market cap of $2.31 billion, a price-to-earnings ratio of -11.84, a price-to-earnings-growth ratio of 0.30 and a beta of 0.97. O-I Glass, Inc. has a 52 week low of $9.23 and a 52 week high of $16.04. The company's 50 day simple moving average is $14.17 and its 200 day simple moving average is $12.41. 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 released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.55 billion. During the same period in the prior year, the company earned $0.45 earnings per share. The business's quarterly revenue was up .4% compared to the same quarter last year. Equities analysts expect that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.
O-I Glass Company Profile
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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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