UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in O-I Glass, Inc. (NYSE:OI - Free Report) by 30.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 365,630 shares of the industrial products company's stock after purchasing an additional 84,380 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.24% of O-I Glass worth $3,963,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. Sterling Capital Management LLC grew its holdings in shares of O-I Glass by 807.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock worth $53,000 after purchasing an additional 4,343 shares during the period. KBC Group NV lifted its position in O-I Glass by 42.5% during the fourth quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock valued at $84,000 after buying an additional 2,309 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in O-I Glass during the fourth quarter worth approximately $86,000. Point72 Asset Management L.P. purchased a new stake in O-I Glass during the fourth quarter worth approximately $89,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of O-I Glass in the fourth quarter worth $106,000. 97.24% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms recently weighed in on OI. Barclays lifted their target price on shares of O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Wall Street Zen raised O-I Glass from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Truist Financial restated a "buy" rating and set a $16.00 price objective (up previously from $13.00) on shares of O-I Glass in a research note on Thursday, May 1st. Citigroup upped their target price on O-I Glass from $11.00 to $14.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $16.00 target price on shares of O-I Glass in a report on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $15.88.
Check Out Our Latest Stock Report on O-I Glass
O-I Glass Stock Up 2.7%
OI stock traded up $0.36 during trading on Friday, reaching $13.61. The stock had a trading volume of 1,066,773 shares, compared to its average volume of 1,551,629. The firm has a fifty day moving average price of $12.25 and a 200 day moving average price of $11.68. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78. The company has a market capitalization of $2.11 billion, a P/E ratio of -19.17, a PEG ratio of 0.24 and a beta of 0.96. O-I Glass, Inc. has a 1-year low of $9.23 and a 1-year high of $14.34.
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 EPS for the quarter, topping the consensus estimate of $0.18 by $0.22. The business had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.55 billion. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. The company's revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, equities analysts anticipate that O-I Glass, Inc. will post 1.33 earnings per share for the current year.
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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