Texas Permanent School Fund Corp Increases Stock Position in O-I Glass, Inc. (NYSE:OI)

Posted by on Jul 27th, 2023

Texas Permanent School Fund Corp grew its stake in shares of O-I Glass, Inc. (NYSE:OI – Free Report) by 32.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 138,429 shares of the industrial products company’s stock after buying an additional 34,284 shares during the period. Texas Permanent School Fund Corp owned 0.09% of O-I Glass worth $3,144,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Quadrant Capital Group LLC lifted its holdings in shares of O-I Glass by 67.3% during the 4th quarter. Quadrant Capital Group LLC now owns 3,926 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 1,580 shares in the last quarter. Seven Eight Capital LP acquired a new stake in shares of O-I Glass in the 4th quarter valued at about $500,000. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in shares of O-I Glass by 2.6% during the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 623,573 shares of the industrial products company’s stock valued at $10,333,000 after buying an additional 15,600 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of O-I Glass by 6.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 20,798 shares of the industrial products company’s stock valued at $345,000 after buying an additional 1,259 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of O-I Glass by 13.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,854,673 shares of the industrial products company’s stock valued at $63,873,000 after buying an additional 465,410 shares during the last quarter. 92.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of O-I Glass from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 5th. Royal Bank of Canada upped their target price on shares of O-I Glass from $34.00 to $37.00 in a research report on Thursday, April 27th. StockNews.com upgraded shares of O-I Glass from a “hold” rating to a “buy” rating in a research report on Wednesday. Robert W. Baird upped their target price on shares of O-I Glass from $26.00 to $30.00 in a research report on Thursday, April 27th. Finally, Truist Financial increased their price objective on shares of O-I Glass from $27.00 to $31.00 in a report on Thursday, April 27th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.56.

O-I Glass Stock Performance

NYSE OI opened at $22.95 on Thursday. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.22 and a quick ratio of 0.77. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 5.20, a P/E/G ratio of 0.52 and a beta of 1.35. The company’s fifty day moving average is $21.60 and its two-hundred day moving average is $21.47. O-I Glass, Inc. has a 52-week low of $12.05 and a 52-week high of $23.57.

O-I Glass (NYSE:OI – Get Free Report) last issued its earnings results on Tuesday, April 25th. The industrial products company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.46. O-I Glass had a net margin of 10.04% and a return on equity of 31.48%. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the business earned $0.56 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. Equities research analysts forecast that O-I Glass, Inc. will post 3.18 EPS for the current year.

O-I Glass Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for O-I Glass (NYSE:OI)

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