Edmond DE Rothschild Holding S.A. Makes New $19.26 Million Investment in O-I Glass, Inc. $OI

Edmond DE Rothschild Holding S.A. acquired a new stake in shares of O-I Glass, Inc. (NYSE:OI) during the second quarter, Holdings Channel.com reports. The firm acquired 2,000,015 shares of the industrial products company’s stock, valued at approximately $19,260,000.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of O-I Glass during the 2nd quarter worth about $225,727,000. Alliancebernstein L.P. grew its holdings in O-I Glass by 194.6% during the 2nd quarter. Alliancebernstein L.P. now owns 7,939,841 shares of the industrial products company’s stock valued at $117,033,000 after purchasing an additional 5,244,440 shares during the last quarter. Cooper Creek Partners Management LLC raised its position in O-I Glass by 73.8% in the 1st quarter. Cooper Creek Partners Management LLC now owns 7,006,293 shares of the industrial products company’s stock worth $73,636,000 after purchasing an additional 2,975,181 shares during the period. Wellington Management Group LLP purchased a new position in shares of O-I Glass during the fourth quarter valued at approximately $40,090,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of O-I Glass by 288.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,215,632 shares of the industrial products company’s stock valued at $47,463,000 after buying an additional 2,388,299 shares during the period. Institutional investors own 97.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Truist Financial reduced their price target on O-I Glass from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Zacks Research upgraded O-I Glass from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Wells Fargo & Company cut their price objective on O-I Glass from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Bank of America reiterated an “underperform” rating and issued a $11.00 target price on shares of O-I Glass in a research note on Tuesday, July 14th. Finally, UBS Group decreased their target price on O-I Glass from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, O-I Glass currently has an average rating of “Hold” and a consensus price target of $10.19.

O-I Glass Stock Performance

Shares of NYSE:OI opened at $6.58 on Thursday. The firm has a market cap of $1.01 billion, a PE ratio of -0.87, a price-to-earnings-growth ratio of 2.06 and a beta of 0.66. The firm’s 50 day simple moving average is $8.59 and its 200-day simple moving average is $10.24. O-I Glass, Inc. has a one year low of $6.35 and a one year high of $16.91. The company has a debt-to-equity ratio of 8.89, a quick ratio of 0.77 and a current ratio of 1.26.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.15). The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.68 billion. O-I Glass had a negative net margin of 18.13% and a positive return on equity of 10.40%. The business’s revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. As a group, equities analysts predict that O-I Glass, Inc. will post 0.42 EPS for the current year.

O-I Glass Profile

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.