O-I Glass, Inc. (NYSE:OI) Shares Sold by LSV Asset Management

LSV Asset Management lessened its holdings in O-I Glass, Inc. (NYSE:OI) by 3.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,860,432 shares of the industrial products company’s stock after selling 102,800 shares during the period. LSV Asset Management’s holdings in O-I Glass were worth $31,837,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in O-I Glass by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 19,362,262 shares of the industrial products company’s stock worth $321,220,000 after acquiring an additional 221,823 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in O-I Glass by 12.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,615,054 shares of the industrial products company’s stock worth $108,358,000 after purchasing an additional 728,493 shares during the period. Levin Capital Strategies L.P. increased its holdings in O-I Glass by 66.0% during the 1st quarter. Levin Capital Strategies L.P. now owns 2,808,105 shares of the industrial products company’s stock worth $46,586,000 after purchasing an additional 1,116,340 shares during the period. Assenagon Asset Management S.A. increased its holdings in O-I Glass by 32.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,644,360 shares of the industrial products company’s stock worth $43,870,000 after purchasing an additional 641,493 shares during the period. Finally, Private Management Group Inc. increased its holdings in O-I Glass by 0.7% during the 1st quarter. Private Management Group Inc. now owns 2,065,441 shares of the industrial products company’s stock worth $34,266,000 after purchasing an additional 13,555 shares during the period. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Stock Down 2.3 %

Shares of NYSE OI opened at $12.18 on Tuesday. The stock has a market cap of $1.89 billion, a PE ratio of -7.66, a price-to-earnings-growth ratio of 1.80 and a beta of 1.17. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 2.85. O-I Glass, Inc. has a 52-week low of $10.08 and a 52-week high of $19.04. The business has a 50-day moving average price of $11.75 and a 200 day moving average price of $13.34.

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The business’s revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. Equities research analysts forecast that O-I Glass, Inc. will post 1.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on OI. StockNews.com upgraded O-I Glass from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Truist Financial restated a “buy” rating and set a $16.00 price target (down previously from $17.00) on shares of O-I Glass in a report on Thursday, August 1st. Royal Bank of Canada cut their price target on O-I Glass from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Citigroup cut their price target on O-I Glass from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, July 8th. Finally, Wells Fargo & Company dropped their price objective on O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.89.

Insiders Place Their Bets

In related news, Director John Humphrey acquired 15,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was bought at an average cost of $11.30 per share, with a total value of $169,500.00. Following the transaction, the director now owns 84,227 shares of the company’s stock, valued at $951,765.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.49% of the stock is owned by insiders.

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.