Private Management Group Inc. Acquires 14,018 Shares of O-I Glass, Inc. (NYSE:OI)

Private Management Group Inc. raised its stake in shares of O-I Glass, Inc. (NYSE:OI) by 0.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,051,886 shares of the industrial products company’s stock after acquiring an additional 14,018 shares during the period. O-I Glass accounts for about 1.3% of Private Management Group Inc.’s portfolio, making the stock its 22nd biggest position. Private Management Group Inc.’s holdings in O-I Glass were worth $33,610,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Covestor Ltd boosted its stake in O-I Glass by 259.7% in the third quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 1,205 shares during the last quarter. Signaturefd LLC purchased a new position in O-I Glass in the third quarter valued at approximately $62,000. International Assets Investment Management LLC lifted its stake in O-I Glass by 1,538.0% in the fourth quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 3,845 shares during the last quarter. National Bank of Canada FI grew its holdings in O-I Glass by 23.8% during the third quarter. National Bank of Canada FI now owns 10,405 shares of the industrial products company’s stock valued at $171,000 after purchasing an additional 2,000 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in O-I Glass by 29.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 10,289 shares of the industrial products company’s stock worth $172,000 after buying an additional 2,365 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Price Performance

Shares of O-I Glass stock traded up $0.04 during trading on Tuesday, hitting $14.85. The stock had a trading volume of 908,655 shares, compared to its average volume of 1,669,807. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 2.69. O-I Glass, Inc. has a 12 month low of $13.56 and a 12 month high of $23.57. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -19.80, a P/E/G ratio of 1.02 and a beta of 1.35. The business’s 50-day moving average is $16.12 and its 200 day moving average is $15.63.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.03 by $0.09. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the business earned $0.38 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis. As a group, sell-side analysts anticipate that O-I Glass, Inc. will post 2.33 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. TheStreet downgraded O-I Glass from a “b-” rating to a “c-” rating in a research note on Tuesday, February 6th. Bank of America reiterated a “neutral” rating and set a $16.00 target price (down previously from $21.00) on shares of O-I Glass in a research report on Friday. Barclays boosted their price target on shares of O-I Glass from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 13th. UBS Group began coverage on shares of O-I Glass in a research note on Tuesday, January 16th. They set a “buy” rating and a $26.00 price target on the stock. Finally, StockNews.com lowered shares of O-I Glass from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.67.

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.