O-I Glass, Inc. (NYSE:OI) Shares Purchased by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. boosted its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 25.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,511,413 shares of the industrial products company's stock after purchasing an additional 703,308 shares during the period. O-I Glass makes up approximately 4.1% of Levin Capital Strategies L.P.'s holdings, making the stock its 2nd biggest position. Levin Capital Strategies L.P. owned about 2.26% of O-I Glass worth $39,082,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in OI. Russell Investments Group Ltd. raised its holdings in O-I Glass by 31.6% during the 4th quarter. Russell Investments Group Ltd. now owns 142,065 shares of the industrial products company's stock worth $2,327,000 after buying an additional 34,073 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in O-I Glass by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,566,817 shares of the industrial products company's stock worth $25,664,000 after purchasing an additional 50,394 shares during the period. Versor Investments LP grew its position in O-I Glass by 53.1% during the 4th quarter. Versor Investments LP now owns 26,404 shares of the industrial products company's stock worth $432,000 after purchasing an additional 9,161 shares in the last quarter. Teacher Retirement System of Texas raised its stake in O-I Glass by 143.9% during the 4th quarter. Teacher Retirement System of Texas now owns 251,581 shares of the industrial products company's stock valued at $4,121,000 after purchasing an additional 148,418 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of O-I Glass by 12.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,615,054 shares of the industrial products company's stock valued at $108,358,000 after purchasing an additional 728,493 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other O-I Glass news, Director John Humphrey acquired 15,000 shares of O-I Glass stock in a transaction dated Tuesday, August 6th. The stock was bought at an average cost of $11.30 per share, with a total value of $169,500.00. Following the completion of the transaction, the director now owns 84,227 shares of the company's stock, valued at $951,765.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.49% of the stock is owned by insiders.

O-I Glass Stock Performance

O-I Glass stock traded down $0.14 during trading hours on Tuesday, reaching $12.04. 1,277,457 shares of the company were exchanged, compared to its average volume of 1,744,489. O-I Glass, Inc. has a 12 month low of $10.08 and a 12 month high of $19.04. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -7.55, a PEG ratio of 1.80 and a beta of 1.17. 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 stock has a 50-day moving average of $11.75 and a 200 day moving average of $13.34.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on OI. UBS Group lowered their price objective on shares of 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. Citigroup cut their price objective on O-I Glass from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Monday, July 8th. Truist Financial restated a "buy" rating and issued a $16.00 target price (down previously from $17.00) on shares of O-I Glass in a research note on Thursday, August 1st. StockNews.com raised O-I Glass from a "sell" rating to a "hold" rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company lowered their price target on O-I Glass from $19.00 to $18.00 and set an "overweight" rating for the company in a research note on Wednesday, July 17th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.89.

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.