O-I Glass, Inc. $OI Holdings Cut by LSV Asset Management

LSV Asset Management reduced its stake in O-I Glass, Inc. (NYSE:OI) by 21.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,720,464 shares of the industrial products company’s stock after selling 478,149 shares during the period. LSV Asset Management owned 1.12% of O-I Glass worth $25,360,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC raised its holdings in shares of O-I Glass by 10.8% during the second quarter. SG Americas Securities LLC now owns 50,725 shares of the industrial products company’s stock valued at $748,000 after buying an additional 4,959 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in O-I Glass by 7.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,713 shares of the industrial products company’s stock valued at $585,000 after acquiring an additional 2,843 shares during the period. Police & Firemen s Retirement System of New Jersey raised its stake in O-I Glass by 3.2% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 35,267 shares of the industrial products company’s stock valued at $520,000 after acquiring an additional 1,093 shares in the last quarter. Corton Capital Inc. acquired a new position in O-I Glass during the 2nd quarter worth $178,000. Finally, Versor Investments LP acquired a new position in O-I Glass during the 2nd quarter worth $1,128,000. 97.24% of the stock is currently owned by institutional investors and hedge funds.

O-I Glass Stock Performance

Shares of OI opened at $12.84 on Wednesday. The company has a 50-day moving average of $12.55 and a two-hundred day moving average of $13.33. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -7.78, a PEG ratio of 0.22 and a beta of 0.89. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.24 and a quick ratio of 0.77. O-I Glass, Inc. has a one year low of $9.23 and a one year high of $16.04.

O-I Glass (NYSE:OI) last issued its earnings results on Wednesday, March 1st. The industrial products company reported $0.36 EPS for the quarter. O-I Glass had a positive return on equity of 13.70% and a negative net margin of 3.95%.The business had revenue of $1.59 billion during the quarter. On average, equities research analysts expect that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on OI shares. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $17.00 in a report on Monday. Wells Fargo & Company boosted their price target on shares of O-I Glass from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of O-I Glass in a report on Wednesday, October 8th. Zacks Research lowered shares of O-I Glass from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Finally, Wall Street Zen upgraded O-I Glass from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.67.

O-I Glass Profile

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.