Versor Investments LP Sells 8,300 Shares of O-I Glass, Inc. (NYSE:OI)

Posted by Defense World Staff on Apr 15th, 2023

Versor Investments LP decreased its stake in shares of O-I Glass, Inc. (NYSE:OI – Get Rating) by 24.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 25,300 shares of the industrial products company’s stock after selling 8,300 shares during the period. Versor Investments LP’s holdings in O-I Glass were worth $419,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. New York State Teachers Retirement System boosted its holdings in shares of O-I Glass by 6.4% during the 4th quarter. New York State Teachers Retirement System now owns 270,347 shares of the industrial products company’s stock worth $4,480,000 after buying an additional 16,194 shares during the period. Natixis Advisors L.P. boosted its holdings in O-I Glass by 38.6% in the 4th quarter. Natixis Advisors L.P. now owns 41,298 shares of the industrial products company’s stock valued at $684,000 after purchasing an additional 11,503 shares during the period. Alpha DNA Investment Management LLC bought a new stake in O-I Glass in the 4th quarter valued at about $1,045,000. Dupont Capital Management Corp bought a new stake in O-I Glass in the 4th quarter valued at about $146,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in O-I Glass by 1,283.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 119,333 shares of the industrial products company’s stock valued at $1,977,000 after purchasing an additional 110,708 shares during the period. Institutional investors own 93.60% of the company’s stock.

O-I Glass Price Performance

OI stock opened at $22.48 on Friday. The company has a 50 day simple moving average of $22.07 and a 200 day simple moving average of $18.64. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 6.13, a P/E/G ratio of 1.23 and a beta of 1.36. O-I Glass, Inc. has a 1 year low of $11.60 and a 1 year high of $23.52. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.10 and a quick ratio of 0.74.

O-I Glass (NYSE:OI – Get Rating) last released its quarterly earnings data on Tuesday, January 31st. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.59 billion. O-I Glass had a net margin of 8.52% and a return on equity of 27.42%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 EPS. Research analysts anticipate that O-I Glass, Inc. will post 2.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Arnaud Aujouannet sold 2,510 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $22.33, for a total transaction of $56,048.30. Following the completion of the transaction, the senior vice president now directly owns 55,368 shares in the company, valued at approximately $1,236,367.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 shares were sold at an average price of $22.22, for a total value of $384,383.78. Following the completion of the transaction, the insider now directly owns 158,010 shares in the company, valued at approximately $3,510,982.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Arnaud Aujouannet sold 2,510 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $22.33, for a total transaction of $56,048.30. Following the completion of the transaction, the senior vice president now 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OI. Barclays boosted their price objective on shares of O-I Glass from $13.00 to $18.00 and gave the company an “underweight” rating in a report on Monday, February 6th. Royal Bank of Canada raised shares of O-I Glass from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $20.00 to $34.00 in a report on Thursday, February 2nd. Wells Fargo & Company boosted their price objective on shares of O-I Glass from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, April 5th. Truist Financial boosted their price objective on shares of O-I Glass from $23.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. Finally, Robert W. Baird boosted their target price on shares of O-I Glass from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.50.

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.