Markel Group Inc. Decreases Position in O-I Glass, Inc. $OI

Markel Group Inc. lowered its stake in shares of O-I Glass, Inc. (NYSE:OI) by 45.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 473,700 shares of the industrial products company’s stock after selling 400,400 shares during the period. Markel Group Inc. owned 0.31% of O-I Glass worth $6,982,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Principal Financial Group Inc. boosted its holdings in O-I Glass by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 767,260 shares of the industrial products company’s stock worth $8,800,000 after buying an additional 17,254 shares during the period. American Century Companies Inc. boosted its holdings in O-I Glass by 11.0% in the 1st quarter. American Century Companies Inc. now owns 326,153 shares of the industrial products company’s stock worth $3,741,000 after buying an additional 32,339 shares during the period. GAMMA Investing LLC boosted its holdings in O-I Glass by 79.3% in the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,142 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in O-I Glass in the 1st quarter worth approximately $658,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in O-I Glass by 7.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,992,887 shares of the industrial products company’s stock worth $22,858,000 after buying an additional 144,030 shares during the period. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Down 1.3%

Shares of NYSE:OI opened at $12.07 on Wednesday. The firm has a fifty day moving average price of $12.67 and a two-hundred day moving average price of $13.22. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.24 and a quick ratio of 0.77. O-I Glass, Inc. has a one year low of $9.23 and a one year high of $16.04. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -7.31, a PEG ratio of 0.23 and a beta of 0.93.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Wednesday, March 1st. The industrial products company reported $0.36 EPS for the quarter. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. The firm had revenue of $1.59 billion during the quarter. Analysts anticipate that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling at O-I Glass

In related news, CEO Gordon Hardie acquired 8,000 shares of the company’s stock in a transaction dated Tuesday, August 5th. The stock was bought at an average cost of $13.10 per share, with a total value of $104,800.00. Following the acquisition, the chief executive officer owned 515,817 shares of the company’s stock, valued at approximately $6,757,202.70. The trade was a 1.58% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Darrow A. Abrahams bought 3,828 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was bought at an average price of $13.05 per share, with a total value of $49,955.40. Following the completion of the transaction, the senior vice president directly owned 184,447 shares of the company’s stock, valued at $2,407,033.35. This represents a 2.12% increase in their position. The SEC filing for this purchase provides additional information. 1.49% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Citigroup raised their price objective on shares of O-I Glass from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, July 3rd. UBS Group reaffirmed a “buy” rating and issued a $19.00 price objective (up from $17.00) on shares of O-I Glass in a report on Wednesday, July 9th. Wall Street Zen downgraded shares of O-I Glass from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of O-I Glass in a report on Wednesday, October 8th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $17.00 price objective (up from $15.00) on shares of O-I Glass in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.56.

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.