Markel Group Inc. Acquires 140,000 Shares of O-I Glass, Inc. (NYSE:OI)

Markel Group Inc. increased its stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 20.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 814,100 shares of the industrial products company's stock after buying an additional 140,000 shares during the quarter. Markel Group Inc. owned about 0.52% of O-I Glass worth $10,681,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Everence Capital Management Inc. lifted its stake in O-I Glass by 6.1% during the third quarter. Everence Capital Management Inc. now owns 15,550 shares of the industrial products company's stock worth $204,000 after purchasing an additional 890 shares during the last quarter. Diversified Trust Co lifted its stake in O-I Glass by 2.0% during the third quarter. Diversified Trust Co now owns 49,596 shares of the industrial products company's stock worth $651,000 after purchasing an additional 965 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in O-I Glass by 28.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company's stock worth $67,000 after purchasing an additional 1,136 shares during the last quarter. Mackenzie Financial Corp lifted its stake in O-I Glass by 6.1% during the second quarter. Mackenzie Financial Corp now owns 20,091 shares of the industrial products company's stock worth $224,000 after purchasing an additional 1,162 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in O-I Glass by 40.2% during the first quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company's stock worth $76,000 after purchasing an additional 1,318 shares during the last quarter. Institutional investors and hedge funds own 97.24% of the company's stock.

O-I Glass Trading Down 0.1 %

O-I Glass stock traded down $0.01 during mid-day trading on Friday, hitting $12.80. The company's stock had a trading volume of 1,488,864 shares, compared to its average volume of 1,689,043. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -4.64 and a beta of 1.20. The business has a 50 day moving average price of $12.62 and a 200-day moving average price of $12.34. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.77. O-I Glass, Inc. has a 12 month low of $10.08 and a 12 month high of $17.58.

O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the company posted $0.80 earnings per share. The business's revenue was down 3.7% on a year-over-year basis. As a group, analysts forecast that O-I Glass, Inc. will post 0.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OI. Robert W. Baird dropped their price target on O-I Glass from $22.00 to $18.00 and set an "outperform" rating for the company in a research note on Thursday, August 1st. Truist Financial reiterated a "buy" rating and issued a $16.00 price target (down from $17.00) on shares of O-I Glass in a research note on Thursday, August 1st. UBS Group dropped their price target on O-I Glass from $26.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday, July 17th. Royal Bank of Canada dropped their price target on O-I Glass from $18.00 to $16.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Finally, Wells Fargo & Company decreased their price objective on O-I Glass from $19.00 to $18.00 and set an "overweight" rating for the company in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $16.25.

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.