UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $4.53 Million Stock Position in O-I Glass, Inc. $OI

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

Other large investors have also made changes to their positions in the company. Hsbc Holdings PLC lifted its position in shares of O-I Glass by 30.7% in the 2nd quarter. Hsbc Holdings PLC now owns 19,507 shares of the industrial products company’s stock valued at $188,000 after acquiring an additional 4,587 shares in the last quarter. Wellington Management Group LLP grew its position in O-I Glass by 8.0% during the 2nd quarter. Wellington Management Group LLP now owns 2,131,797 shares of the industrial products company’s stock worth $20,529,000 after purchasing an additional 157,472 shares in the last quarter. Empowered Funds LLC purchased a new position in O-I Glass during the 2nd quarter worth approximately $5,554,000. Corient Private Wealth LP acquired a new stake in O-I Glass during the 2nd quarter valued at $254,000. Finally, Bank of America Corp DE acquired a new stake in O-I Glass during the 2nd quarter valued at $33,436,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Stock Down 1.4%

OI opened at $6.65 on Thursday. O-I Glass, Inc. has a fifty-two week low of $6.29 and a fifty-two week high of $16.91. The business has a 50-day moving average of $7.93 and a 200-day moving average of $9.35. The company has a debt-to-equity ratio of 8.89, a current ratio of 1.26 and a quick ratio of 0.77. The company has a market capitalization of $1.02 billion, a PE ratio of -0.88, a price-to-earnings-growth ratio of 2.40 and a beta of 0.66.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.15). The firm 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%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Equities research analysts forecast that O-I Glass, Inc. will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Weiss Ratings upgraded O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 14th. Bank of America reissued an “underperform” rating and set a $11.00 price target on shares of O-I Glass in a research report on Tuesday, July 14th. Citigroup raised O-I Glass from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $8.00 to $9.00 in a research note on Friday, August 21st. Zacks Research upgraded O-I Glass from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Royal Bank Of Canada lowered O-I Glass from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $10.00 to $8.00 in a research report on Thursday, August 13th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, O-I Glass presently has a consensus 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.