Boston Partners Increases Holdings in O-I Glass, Inc. (NYSE:OI)

Posted by Defense World Staff on Feb 15th, 2023

Boston Partners raised its holdings in O-I Glass, Inc. (NYSE:OI – Get Rating) by 38.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,428 shares of the industrial products company’s stock after purchasing an additional 9,350 shares during the quarter. Boston Partners’ holdings in O-I Glass were worth $433,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OI. Citigroup Inc. raised its position in O-I Glass by 6.8% in the first quarter. Citigroup Inc. now owns 135,235 shares of the industrial products company’s stock valued at $1,783,000 after purchasing an additional 8,576 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of O-I Glass by 4.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 74,856 shares of the industrial products company’s stock valued at $986,000 after buying an additional 3,197 shares during the period. Natixis Advisors L.P. raised its holdings in shares of O-I Glass by 28.0% in the 1st quarter. Natixis Advisors L.P. now owns 23,746 shares of the industrial products company’s stock valued at $313,000 after buying an additional 5,200 shares during the period. MetLife Investment Management LLC raised its holdings in shares of O-I Glass by 52.5% in the 1st quarter. MetLife Investment Management LLC now owns 78,076 shares of the industrial products company’s stock valued at $1,029,000 after buying an additional 26,893 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of O-I Glass by 2.8% in the 1st quarter. Rhumbline Advisers now owns 413,166 shares of the industrial products company’s stock valued at $5,446,000 after buying an additional 11,382 shares during the period. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on O-I Glass from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, February 2nd. Royal Bank of Canada raised O-I Glass from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $20.00 to $34.00 in a research note on Thursday, February 2nd. Truist Financial boosted their target price on O-I Glass from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, February 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on O-I Glass from $18.00 to $24.00 and gave the stock a “hold” rating in a research note on Thursday, February 2nd. Finally, KeyCorp boosted their target price on O-I Glass from $12.00 to $15.00 and gave the stock an “underweight” rating in a research note on Thursday, February 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, O-I Glass currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

Insider Buying and Selling at O-I Glass

In other O-I Glass news, insider Vitaliano Torno sold 17,299 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $22.22, for a total transaction of $384,383.78. Following the completion of the sale, the insider now directly owns 158,010 shares of the company’s stock, valued at approximately $3,510,982.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Vitaliano Torno sold 17,299 shares of the stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $22.22, for a total transaction of $384,383.78. Following the completion of the transaction, the insider now directly owns 158,010 shares of the company’s stock, valued at approximately $3,510,982.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Arnaud Aujouannet sold 2,510 shares of the stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $22.33, for a total value of $56,048.30. Following the transaction, the senior vice president now directly owns 55,368 shares of the company’s stock, valued at $1,236,367.44. The disclosure for this sale can be found here. 1.34% of the stock is owned by company insiders.

O-I Glass Stock Up 0.2 %

O-I Glass stock opened at $21.91 on Wednesday. The stock has a 50-day simple moving average of $18.64 and a 200-day simple moving average of $16.17. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.74 and a current ratio of 1.10. The company has a market capitalization of $3.38 billion, a P/E ratio of 5.97, a PEG ratio of 1.18 and a beta of 1.40. O-I Glass, Inc. has a fifty-two week low of $11.51 and a fifty-two week high of $23.52.

O-I Glass (NYSE:OI – Get Rating) last posted its quarterly earnings data on Tuesday, January 31st. The industrial products company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.32 by $0.06. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.59 billion. O-I Glass had a return on equity of 27.42% and a net margin of 8.52%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 EPS. Equities research analysts expect that O-I Glass, Inc. will post 2.59 earnings per share for the current year.

O-I Glass Profile

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O-I Glass, Inc engages in manufacturing of glass products. It offers products to the food and beverage sectors. The firm operates through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded in 1929 and is headquartered in Perrysburg, OH.