Oppenheimer & Co. Inc. boosted its position in shares of O-I Glass, Inc. (NYSE:OI – Free Report) by 52.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,826 shares of the industrial products company’s stock after purchasing an additional 14,786 shares during the period. Oppenheimer & Co. Inc.’s holdings in O-I Glass were worth $973,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. MAI Capital Management bought a new position in O-I Glass in the 1st quarter worth about $240,000. Bessemer Group Inc. bought a new position in O-I Glass in the 1st quarter worth about $86,000. Spire Wealth Management grew its stake in O-I Glass by 14.0% in the 1st quarter. Spire Wealth Management now owns 6,899 shares of the industrial products company’s stock worth $157,000 after acquiring an additional 849 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in O-I Glass by 850.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 5,055 shares of the industrial products company’s stock worth $115,000 after acquiring an additional 4,523 shares in the last quarter. Finally, Convergence Investment Partners LLC bought a new position in O-I Glass in the 1st quarter worth about $234,000. 92.28% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
OI has been the topic of a number of recent research reports. Citigroup dropped their price objective on shares of O-I Glass from $28.00 to $27.00 in a research note on Monday, July 10th. Bank of America dropped their price objective on shares of O-I Glass from $31.00 to $28.00 in a research note on Monday, July 10th. Royal Bank of Canada dropped their price objective on shares of O-I Glass from $37.00 to $32.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. StockNews.com downgraded shares of O-I Glass from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Barclays increased their price objective on shares of O-I Glass from $18.00 to $19.00 in a research note on Monday, May 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.00.
O-I Glass Trading Up 0.7 %
NYSE:OI opened at $19.46 on Friday. O-I Glass, Inc. has a 52 week low of $12.05 and a 52 week high of $23.57. The firm has a 50 day moving average of $21.12 and a 200 day moving average of $21.58. The company has a quick ratio of 0.94, a current ratio of 1.42 and a debt-to-equity ratio of 2.23. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 5.54, a PEG ratio of 0.40 and a beta of 1.35.
O-I Glass (NYSE:OI – Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.05. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. O-I Glass had a net margin of 7.88% and a return on equity of 28.93%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company posted $0.73 earnings per share. As a group, sell-side analysts anticipate that O-I Glass, Inc. will post 3.21 earnings per share for the current fiscal year.
About O-I Glass
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.
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