42,669 Shares in O-I Glass, Inc. (NYSE:OI) Bought by Creative Planning

Creative Planning bought a new stake in O-I Glass, Inc. (NYSE:OI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 42,669 shares of the industrial products company’s stock, valued at approximately $475,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC bought a new stake in shares of O-I Glass in the 1st quarter valued at about $33,000. FinTrust Capital Advisors LLC acquired a new position in O-I Glass during the first quarter valued at approximately $38,000. Headlands Technologies LLC acquired a new position in O-I Glass during the first quarter valued at approximately $39,000. Bessemer Group Inc. increased its stake in O-I Glass by 40.2% in the first quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company’s stock valued at $76,000 after purchasing an additional 1,318 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in O-I Glass in the second quarter worth $90,000. Institutional investors own 97.24% of the company’s stock.

Insider Activity at O-I Glass

In related news, Director John Humphrey acquired 15,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of $11.30 per share, with a total value of $169,500.00. Following the acquisition, the director now owns 84,227 shares of the company’s stock, valued at approximately $951,765.10. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.49% of the stock is owned by insiders.

O-I Glass Stock Performance

Shares of OI stock opened at $12.77 on Wednesday. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.26 and a quick ratio of 0.75. The stock has a market capitalization of $1.99 billion, a PE ratio of -8.03, a PEG ratio of 1.88 and a beta of 1.17. The business’s 50 day simple moving average is $12.54 and its 200 day simple moving average is $12.76. O-I Glass, Inc. has a one year low of $10.08 and a one year high of $17.58.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the company earned $0.88 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. As a group, research analysts forecast that O-I Glass, Inc. will post 1.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Barclays decreased their price target on shares of O-I Glass from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. UBS Group lowered their price target on O-I Glass from $26.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Citigroup lifted their price objective on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Wells Fargo & Company lowered their target price on O-I Glass from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, July 17th. Finally, Truist Financial restated a “buy” rating and set a $16.00 target price (down from $17.00) on shares of O-I Glass in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, O-I Glass presently has an average rating of “Moderate Buy” and an average price target of $16.63.

O-I Glass 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.