Amalgamated Bank Decreases Stake in O-I Glass, Inc. (NYSE:OI)

Amalgamated Bank lowered its position in shares of O-I Glass, Inc. (NYSE:OI) by 3.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 47,570 shares of the industrial products company’s stock after selling 1,685 shares during the quarter. Amalgamated Bank’s holdings in O-I Glass were worth $529,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Fidelis Capital Partners LLC purchased a new stake in shares of O-I Glass during the 1st quarter worth about $33,000. TFO Wealth Partners LLC lifted its position in O-I Glass by 24,311.1% during the 4th quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 2,188 shares in the last quarter. FinTrust Capital Advisors LLC acquired a new position in O-I Glass during the 1st quarter worth approximately $38,000. Headlands Technologies LLC acquired a new position in O-I Glass during the 1st quarter worth approximately $39,000. Finally, Bessemer Group Inc. lifted its position in 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 worth $76,000 after acquiring an additional 1,318 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on OI. Truist Financial reissued a “buy” rating and set a $16.00 price target (down from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. Robert W. Baird reduced their price target on O-I Glass from $22.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Barclays cut their target price on 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. UBS Group cut their target price on O-I Glass from $26.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company cut their target price on O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.25.

O-I Glass Price Performance

Shares of NYSE OI opened at $13.27 on Monday. O-I Glass, Inc. has a twelve month low of $10.08 and a twelve month high of $17.58. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 2.85. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of -8.35, a price-to-earnings-growth ratio of 1.87 and a beta of 1.17. The business has a 50 day simple moving average of $12.25 and a 200-day simple moving average of $12.96.

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

Insider Activity

In related news, Director John Humphrey acquired 15,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $11.30 per share, for a total transaction of $169,500.00. Following the purchase, the director now directly owns 84,227 shares in the company, valued at $951,765.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.49% of the company’s stock.

O-I Glass Company Profile

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.