Huber Capital Management LLC Acquires 128,915 Shares of O-I Glass, Inc. (NYSE:OI)

Huber Capital Management LLC boosted its holdings in shares of O-I Glass, Inc. (NYSE:OI) by 200.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 193,215 shares of the industrial products company’s stock after purchasing an additional 128,915 shares during the quarter. Huber Capital Management LLC owned about 0.12% of O-I Glass worth $2,150,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC purchased a new stake in O-I Glass during the 1st quarter valued at approximately $33,000. TFO Wealth Partners LLC grew its stake in O-I Glass by 24,311.1% during the fourth quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 2,188 shares in the last quarter. FinTrust Capital Advisors LLC bought a new stake in O-I Glass in the 1st quarter valued at $38,000. Headlands Technologies LLC purchased a new stake in O-I Glass in the 1st quarter worth $39,000. Finally, Bessemer Group Inc. boosted its holdings in shares of O-I Glass by 40.2% during the 1st quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company’s stock valued at $76,000 after purchasing an additional 1,318 shares during the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada lowered their target price on O-I Glass from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Barclays reduced their price target on shares of O-I Glass from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Truist Financial reiterated a “buy” rating and set a $16.00 price objective (down previously from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. Finally, Robert W. Baird reduced their target price on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.25.

Insider Activity at O-I Glass

In other O-I Glass news, Director John Humphrey bought 15,000 shares of O-I Glass stock in a transaction on Tuesday, August 6th. The shares were acquired at an average price of $11.30 per share, for a total transaction of $169,500.00. Following the completion of the purchase, the director now directly owns 84,227 shares in the company, valued at approximately $951,765.10. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.49% of the stock is owned by company insiders.

O-I Glass Trading Down 3.2 %

Shares of OI opened at $12.99 on Friday. The company’s fifty day simple moving average is $12.11 and its 200-day simple moving average is $13.12. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.26 and a quick ratio of 0.75. O-I Glass, Inc. has a twelve month low of $10.08 and a twelve month high of $18.08.

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