O-I Glass, Inc. (NYSE:OI) Shares Acquired by KBC Group NV

KBC Group NV boosted its position in O-I Glass, Inc. (NYSE:OI) by 38.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,431 shares of the industrial products company’s stock after purchasing an additional 1,521 shares during the period. KBC Group NV’s holdings in O-I Glass were worth $71,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of O-I Glass by 1.2% in the first quarter. Vanguard Group Inc. now owns 19,362,262 shares of the industrial products company’s stock valued at $321,220,000 after buying an additional 221,823 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in O-I Glass by 33.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 172,565 shares of the industrial products company’s stock valued at $2,264,000 after acquiring an additional 43,724 shares during the last quarter. Private Management Group Inc. increased its holdings in O-I Glass by 21.3% during the 2nd quarter. Private Management Group Inc. now owns 2,505,279 shares of the industrial products company’s stock valued at $27,884,000 after acquiring an additional 439,838 shares in the last quarter. Markel Group Inc. raised its position in O-I Glass by 20.8% during the third quarter. Markel Group Inc. now owns 814,100 shares of the industrial products company’s stock worth $10,681,000 after acquiring an additional 140,000 shares during the last quarter. Finally, Huber Capital Management LLC lifted its holdings in shares of O-I Glass by 200.5% in the second quarter. Huber Capital Management LLC now owns 193,215 shares of the industrial products company’s stock valued at $2,150,000 after purchasing an additional 128,915 shares in the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OI has been the subject of a number of recent research reports. Truist Financial reissued a “buy” rating and set a $16.00 price objective (down from $17.00) on shares of O-I Glass in a research note on Thursday, August 1st. Citigroup raised their price target on O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. StockNews.com upgraded O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Barclays dropped their price objective on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, Robert W. Baird cut their target price on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, O-I Glass presently has an average rating of “Moderate Buy” and an average target price of $16.25.

O-I Glass Stock Performance

NYSE OI opened at $12.94 on Friday. The business’s 50-day moving average price is $12.71 and its 200 day moving average price is $12.25. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. O-I Glass, Inc. has a twelve month low of $10.08 and a twelve month high of $17.58. The company has a market capitalization of $2.00 billion, a PE ratio of -4.68 and a beta of 1.20.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the business posted $0.80 earnings per share. O-I Glass’s revenue was down 3.7% on a year-over-year basis. On average, research analysts predict that O-I Glass, Inc. will post 0.76 earnings per share for the current year.

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.