Everence Capital Management Inc. Has $204,000 Holdings in O-I Glass, Inc. (NYSE:OI)

Everence Capital Management Inc. increased its position in shares of O-I Glass, Inc. (NYSE:OI) by 6.1% during the third quarter, Holdings Channel reports. The fund owned 15,550 shares of the industrial products company’s stock after acquiring an additional 890 shares during the quarter. Everence Capital Management Inc.’s holdings in O-I Glass were worth $204,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new position in O-I Glass in the 1st quarter valued at approximately $1,021,000. Duality Advisers LP acquired a new position in O-I Glass in the 1st quarter valued at approximately $1,554,000. Goldman Sachs Group Inc. increased its stake in O-I Glass by 8.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,474,863 shares of the industrial products company’s stock valued at $24,158,000 after buying an additional 115,728 shares during the period. Leeward Investments LLC MA increased its stake in O-I Glass by 36.0% in the 1st quarter. Leeward Investments LLC MA now owns 623,129 shares of the industrial products company’s stock valued at $10,338,000 after buying an additional 165,103 shares during the period. Finally, Vanguard Group Inc. increased its stake in O-I Glass by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 19,362,262 shares of the industrial products company’s stock valued at $321,220,000 after buying an additional 221,823 shares during the period. Institutional investors and hedge funds own 97.24% of the company’s stock.

Insider Buying and Selling at O-I Glass

In related news, Director John Humphrey purchased 15,000 shares of O-I Glass stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of $11.30 per share, with a total value of $169,500.00. Following the acquisition, the director now directly owns 84,227 shares in the company, valued at approximately $951,765.10. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on OI shares. Citigroup boosted their target price on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. UBS Group decreased their target price on shares of O-I Glass from $26.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Wells Fargo & Company decreased their target price on shares of O-I Glass from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Truist Financial reissued a “buy” rating and issued a $16.00 target price (down from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. Finally, Robert W. Baird decreased their target price on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.63.

O-I Glass Price Performance

NYSE OI opened at $12.16 on Wednesday. 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 fifty day simple moving average of $12.70 and a 200 day simple moving average of $12.60. The company has a market cap of $1.89 billion, a P/E ratio of -6.33, a P/E/G ratio of 1.93 and a beta of 1.17. O-I Glass, Inc. has a 1 year low of $10.08 and a 1 year high of $17.58.

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 (EPS) for the quarter, topping the consensus estimate 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 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 prior year, the firm earned $0.88 EPS. O-I Glass’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, sell-side analysts predict that O-I Glass, Inc. will post 1.11 EPS for the current year.

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.