Knights of Columbus Asset Advisors LLC Purchases 82,619 Shares of O-I Glass, Inc. $OI

Knights of Columbus Asset Advisors LLC lifted its position in O-I Glass, Inc. (NYSE:OI) by 91.6% in the 3rd quarter, Holdings Channel reports. The fund owned 172,773 shares of the industrial products company’s stock after acquiring an additional 82,619 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in O-I Glass were worth $2,241,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in O-I Glass in the second quarter worth $29,000. Smartleaf Asset Management LLC grew its position in shares of O-I Glass by 64.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock worth $35,000 after buying an additional 918 shares during the period. State of Wyoming purchased a new stake in shares of O-I Glass in the 2nd quarter worth about $35,000. GAMMA Investing LLC increased its stake in shares of O-I Glass by 31.7% in the 2nd quarter. GAMMA Investing LLC now owns 3,403 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 820 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new position in O-I Glass during the 2nd quarter valued at about $51,000. 97.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OI. Truist Financial upped their price objective on shares of O-I Glass from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.00 to $17.00 in a research note on Monday, November 17th. Citigroup raised their price objective on O-I Glass from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of O-I Glass in a research note on Thursday, January 22nd. Finally, Wells Fargo & Company raised O-I Glass from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $15.00 to $18.00 in a report on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.88.

O-I Glass Trading Up 0.0%

O-I Glass stock opened at $15.28 on Friday. O-I Glass, Inc. has a one year low of $9.23 and a one year high of $16.04. The business’s fifty day moving average is $14.83 and its 200 day moving average is $13.60. The stock has a market capitalization of $2.35 billion, a PE ratio of -16.25, a price-to-earnings-growth ratio of 0.19 and a beta of 0.77. The company has a debt-to-equity ratio of 3.36, a current ratio of 1.33 and a quick ratio of 0.84.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, November 4th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. O-I Glass had a negative net margin of 2.26% and a positive return on equity of 16.02%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the prior year, the business earned ($0.04) EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. O-I Glass has set its FY 2025 guidance at 1.550-1.650 EPS. On average, sell-side analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current year.

O-I Glass Company 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.