Markel Group Inc. Buys 135,000 Shares of O-I Glass, Inc. (NYSE:OI)

Markel Group Inc. raised its stake in O-I Glass, Inc. (NYSE:OI - Free Report) by 25.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 674,100 shares of the industrial products company's stock after acquiring an additional 135,000 shares during the period. Markel Group Inc. owned 0.43% of O-I Glass worth $7,503,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in OI. Fidelis Capital Partners LLC bought a new stake in O-I Glass during the first quarter worth approximately $33,000. TFO Wealth Partners LLC boosted its position in shares of O-I Glass by 24,311.1% in the 4th quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 2,188 shares during the period. FinTrust Capital Advisors LLC acquired a new stake in O-I Glass during the 1st quarter worth about $38,000. Headlands Technologies LLC purchased a new stake in O-I Glass during the first quarter valued at about $39,000. Finally, Bessemer Group Inc. boosted its holdings in shares of O-I Glass by 40.2% in the first quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company's stock worth $76,000 after buying an additional 1,318 shares during the period. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OI. Wells Fargo & Company lowered their price objective on shares of 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. StockNews.com raised O-I Glass from a "sell" rating to a "hold" rating in a research note on Thursday, August 1st. Citigroup reduced their target price on shares of O-I Glass from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Monday, July 8th. UBS Group cut their price target on shares of O-I Glass from $26.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, July 17th. Finally, Royal Bank of Canada decreased their price objective on shares of O-I Glass from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Monday, August 5th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $16.89.

O-I Glass Stock Up 1.2 %

Shares of OI traded up $0.15 during mid-day trading on Wednesday, hitting $12.46. 970,451 shares of the company's stock were exchanged, compared to its average volume of 1,752,379. The company has a 50-day simple moving average of $11.64 and a 200 day simple moving average of $13.47. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.26 and a quick ratio of 0.75. The company has a market cap of $1.94 billion, a PE ratio of -7.84, a P/E/G ratio of 1.83 and a beta of 1.17. O-I Glass, Inc. has a 52 week low of $10.08 and a 52 week high of $19.93.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.44 EPS for the quarter, topping 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 negative net margin of 4.32% and a positive return on equity of 15.64%. The company's revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 earnings per share. On average, research analysts forecast that O-I Glass, Inc. will post 1.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other O-I Glass news, Director John Humphrey acquired 15,000 shares of the company's stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average cost of $11.30 per share, for a total transaction of $169,500.00. Following the transaction, the director now directly owns 84,227 shares in the company, valued at $951,765.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.49% of the company's stock.

O-I Glass 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.