362,843 Shares in O-I Glass, Inc. $OI Acquired by Legal & General Group Plc

Legal & General Group Plc bought a new stake in O-I Glass, Inc. (NYSE:OI) during the second quarter, Holdings Channel.com reports. The fund bought 362,843 shares of the industrial products company’s stock, valued at approximately $3,494,000.

A number of other large investors have also made changes to their positions in the stock. Farther Finance Advisors LLC increased its holdings in O-I Glass by 87.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock valued at $26,000 after buying an additional 830 shares during the period. Optiver Holding B.V. lifted its holdings in O-I Glass by 491.5% during the 1st quarter. Optiver Holding B.V. now owns 2,496 shares of the industrial products company’s stock worth $26,000 after buying an additional 2,074 shares in the last quarter. Headlands Technologies LLC acquired a new position in O-I Glass during the 2nd quarter worth $29,000. Quarry LP bought a new position in O-I Glass in the 4th quarter valued at $32,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in O-I Glass by 36,533.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock valued at $32,000 after buying an additional 2,192 shares during the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Bank of America restated an “underperform” rating and set a $11.00 target price on shares of O-I Glass in a research report on Tuesday, July 14th. UBS Group reduced their price objective on shares of O-I Glass from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Citigroup raised shares of O-I Glass from a “neutral” rating to a “buy” rating and upped their target price for the company from $8.00 to $9.00 in a research note on Friday, August 21st. Weiss Ratings raised shares of O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 14th. Finally, Truist Financial cut their price target on shares of O-I Glass from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, O-I Glass has a consensus rating of “Hold” and a consensus target price of $10.31.

O-I Glass Price Performance

OI stock opened at $7.15 on Friday. The company has a 50 day simple moving average of $8.10 and a 200 day simple moving average of $9.55. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -0.95, a P/E/G ratio of 2.50 and a beta of 0.66. O-I Glass, Inc. has a 1 year low of $6.29 and a 1 year high of $16.91. The company has a debt-to-equity ratio of 8.89, a current ratio of 1.26 and a quick ratio of 0.77.

O-I Glass (NYSE:OI) last issued its quarterly earnings data 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). O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%.The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the firm earned $0.53 EPS. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. Research analysts anticipate that O-I Glass, Inc. will post 0.39 EPS for the current fiscal 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.