Private Management Group Inc. Has $39.70 Million Stock Position in O-I Glass, Inc. (NYSE:OI)

Private Management Group Inc. lifted its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 20.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 3,025,731 shares of the industrial products company's stock after acquiring an additional 520,452 shares during the period. O-I Glass makes up about 1.4% of Private Management Group Inc.'s investment portfolio, making the stock its 14th biggest position. Private Management Group Inc. owned 1.94% of O-I Glass worth $39,698,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC grew its position in O-I Glass by 28.4% in the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company's stock valued at $67,000 after acquiring an additional 1,136 shares during the period. Everence Capital Management Inc. boosted its stake in shares of O-I Glass by 6.1% in the 3rd quarter. Everence Capital Management Inc. now owns 15,550 shares of the industrial products company's stock valued at $204,000 after purchasing an additional 890 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of O-I Glass by 33.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 172,565 shares of the industrial products company's stock worth $2,264,000 after purchasing an additional 43,724 shares during the last quarter. Bfsg LLC increased its position in shares of O-I Glass by 30.4% during the 3rd quarter. Bfsg LLC now owns 24,485 shares of the industrial products company's stock worth $321,000 after purchasing an additional 5,715 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of O-I Glass by 19.3% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 296,900 shares of the industrial products company's stock worth $3,895,000 after purchasing an additional 48,023 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John Humphrey acquired 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average cost of $11.30 per share, with a total value of $169,500.00. Following the completion of the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.49% of the stock is currently owned by company insiders.

Analyst Ratings Changes

OI has been the topic of several research analyst reports. Truist Financial reaffirmed a "buy" rating and set a $16.00 price objective (down from $17.00) on shares of O-I Glass in a research note on Thursday, August 1st. Robert W. Baird decreased their price target on O-I Glass from $22.00 to $18.00 and set an "outperform" rating on the stock in a research report on Thursday, August 1st. Royal Bank of Canada cut their price objective on O-I Glass from $18.00 to $16.00 and set an "outperform" rating for the company in a research report on Friday. Citigroup boosted their price objective on O-I Glass from $14.00 to $15.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 2nd. Finally, Bank of America upgraded O-I Glass from a "neutral" rating to a "buy" rating and raised their target price for the company from $14.00 to $16.00 in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.25.

O-I Glass Trading Up 1.2 %

O-I Glass stock traded up $0.13 during mid-day trading on Friday, hitting $11.24. The stock had a trading volume of 1,546,093 shares, compared to its average volume of 1,449,944. The stock has a 50-day simple moving average of $12.67 and a two-hundred day simple moving average of $12.44. The company has a current ratio of 1.23, a quick ratio of 0.75 and a debt-to-equity ratio of 3.18. The stock has a market capitalization of $1.74 billion, a PE ratio of -4.07 and a beta of 1.20. 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 posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.08). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The business 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 firm earned $0.80 earnings per share. The company's quarterly revenue was down 3.7% on a year-over-year basis. As a group, sell-side analysts forecast that O-I Glass, Inc. will post 0.75 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.