O-I Glass, Inc. (NYSE:OI) Shares Bought by Robeco Institutional Asset Management B.V.

Posted by on Oct 14th, 2023

Robeco Institutional Asset Management B.V. boosted its holdings in shares of O-I Glass, Inc. (NYSE:OI – Free Report) by 455.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,414 shares of the industrial products company’s stock after purchasing an additional 44,615 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in O-I Glass were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY raised its position in shares of O-I Glass by 5.3% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,577 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 485 shares during the last quarter. Metropolitan Life Insurance Co NY raised its position in shares of O-I Glass by 5.3% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 9,577 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 485 shares during the last quarter. Ziegler Capital Management LLC raised its position in shares of O-I Glass by 1.0% during the 1st quarter. Ziegler Capital Management LLC now owns 52,669 shares of the industrial products company’s stock worth $1,196,000 after purchasing an additional 496 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of O-I Glass by 1.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 46,004 shares of the industrial products company’s stock worth $596,000 after purchasing an additional 656 shares during the last quarter. Finally, Belpointe Asset Management LLC raised its position in shares of O-I Glass by 109.4% during the 1st quarter. Belpointe Asset Management LLC now owns 1,518 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 793 shares during the last quarter. 91.29% of the stock is currently owned by institutional investors and hedge funds.

O-I Glass Stock Performance

O-I Glass stock opened at $15.47 on Friday. The firm has a 50 day simple moving average of $18.38 and a 200-day simple moving average of $20.61. O-I Glass, Inc. has a 1-year low of $14.55 and a 1-year high of $23.57. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.42 and a quick ratio of 0.94. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 4.41, a price-to-earnings-growth ratio of 0.33 and a beta of 1.40.

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 for the quarter, beating the consensus estimate 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 revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.73 EPS. On average, analysts expect that O-I Glass, Inc. will post 3.21 EPS for the current year.

Analysts Set New Price Targets

OI has been the subject of several research analyst reports. StockNews.com downgraded shares of O-I Glass from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. 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 for the company in a research note on Thursday, August 3rd. 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. Barclays raised shares of O-I Glass from an “underweight” rating to an “equal weight” rating and dropped their price objective for the company from $19.00 to $18.00 in a research note on Wednesday. Finally, Citigroup dropped their price objective on shares of O-I Glass from $23.00 to $19.00 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $24.70.

Read Our Latest Stock Analysis on OI

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.

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

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