Private Management Group Inc. Acquires 14,018 Shares of O-I Glass, Inc. (NYSE:OI)

Private Management Group Inc. increased its stake in shares of O-I Glass, Inc. (NYSE:OI) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,051,886 shares of the industrial products company’s stock after buying an additional 14,018 shares during the quarter. O-I Glass accounts for 1.3% of Private Management Group Inc.’s investment portfolio, making the stock its 22nd largest holding. Private Management Group Inc. owned 1.33% of O-I Glass worth $33,610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Covestor Ltd boosted its holdings in O-I Glass by 259.7% in the 3rd quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 1,205 shares during the period. Signaturefd LLC purchased a new position in O-I Glass during the 3rd quarter valued at about $62,000. International Assets Investment Management LLC raised its holdings in shares of O-I Glass by 1,538.0% during the fourth quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 3,845 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of O-I Glass by 29.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,289 shares of the industrial products company’s stock worth $172,000 after purchasing an additional 2,365 shares during the period. Finally, National Bank of Canada FI lifted its holdings in O-I Glass by 23.8% in the third quarter. National Bank of Canada FI now owns 10,405 shares of the industrial products company’s stock worth $171,000 after buying an additional 2,000 shares during the period. Institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Performance

Shares of OI traded up $0.04 during midday trading on Tuesday, reaching $14.85. 908,655 shares of the stock were exchanged, compared to its average volume of 1,669,807. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of -19.80, a PEG ratio of 1.02 and a beta of 1.35. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.23 and a quick ratio of 0.77. O-I Glass, Inc. has a twelve month low of $13.56 and a twelve month high of $23.57. The business’s 50-day moving average price is $16.12 and its 200 day moving average price is $15.63.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.03 by $0.09. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. O-I Glass had a negative net margin of 1.45% and a positive return on equity of 24.90%. O-I Glass’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 EPS. On average, sell-side analysts expect that O-I Glass, Inc. will post 2.33 EPS for the current fiscal year.

Analyst Ratings Changes

OI has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of O-I Glass from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 13th. Truist Financial reiterated a “buy” rating and set a $20.00 price objective on shares of O-I Glass in a research report on Monday, March 25th. UBS Group started coverage on O-I Glass in a research note on Tuesday, January 16th. They set a “buy” rating and a $26.00 price target for the company. Bank of America reissued a “neutral” rating and issued a $16.00 price objective (down from $21.00) on shares of O-I Glass in a research report on Friday. Finally, StockNews.com lowered O-I Glass from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, O-I Glass currently has a consensus rating of “Hold” and an average price target of $22.67.

O-I Glass Company 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.