O-I Glass, Inc. (NYSE:OI) Stock Holdings Increased by Private Management Group Inc.

Private Management Group Inc. raised its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 21.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,505,279 shares of the industrial products company's stock after purchasing an additional 439,838 shares during the quarter. Private Management Group Inc. owned 1.61% of O-I Glass worth $27,884,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of 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 worth $321,220,000 after purchasing an additional 221,823 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of O-I Glass by 12.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,615,054 shares of the industrial products company's stock valued at $108,358,000 after buying an additional 728,493 shares during the period. Levin Capital Strategies L.P. raised its holdings in shares of O-I Glass by 66.0% during the 1st quarter. Levin Capital Strategies L.P. now owns 2,808,105 shares of the industrial products company's stock valued at $46,586,000 after buying an additional 1,116,340 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of O-I Glass by 32.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,644,360 shares of the industrial products company's stock valued at $43,870,000 after buying an additional 641,493 shares during the period. Finally, Norges Bank purchased a new stake in shares of O-I Glass during the 4th quarter valued at about $27,562,000. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at O-I Glass

In related news, Director John Humphrey acquired 15,000 shares of O-I Glass stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average price of $11.30 per share, for a total transaction of $169,500.00. Following the transaction, the director now directly owns 84,227 shares of the company's stock, valued at approximately $951,765.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.49% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on OI. StockNews.com upgraded O-I Glass from a "sell" rating to a "hold" rating in a report on Thursday, August 1st. Robert W. Baird dropped their target price on O-I Glass from $22.00 to $18.00 and set an "outperform" rating on the stock in a report on Thursday, August 1st. Barclays dropped their target price on O-I Glass from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Thursday, August 1st. Royal Bank of Canada dropped their target price on O-I Glass from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Monday, August 5th. Finally, Truist Financial restated a "buy" rating and set a $16.00 price objective (down previously from $17.00) on shares of O-I Glass in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $16.89.

O-I Glass Stock Performance

Shares of OI traded down $0.29 during mid-day trading on Monday, hitting $12.18. The stock had a trading volume of 1,096,475 shares, compared to its average volume of 1,747,189. The company's fifty day simple moving average is $11.72 and its two-hundred day simple moving average is $13.38. 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 fifty-two week low of $10.08 and a fifty-two week high of $19.04.

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

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.