Los Angeles Capital Management LLC Sells 719 Shares of O-I Glass, Inc. (NYSE:OI)

Los Angeles Capital Management LLC lowered its holdings in shares of O-I Glass, Inc. (NYSE:OIFree Report) by 1.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 65,431 shares of the industrial products company’s stock after selling 719 shares during the period. Los Angeles Capital Management LLC’s holdings in O-I Glass were worth $1,095,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Belpointe Asset Management LLC raised its stake in O-I Glass by 109.4% during the first quarter. Belpointe Asset Management LLC now owns 1,518 shares of the industrial products company’s stock worth $34,000 after buying an additional 793 shares during the last quarter. Lazard Asset Management LLC bought a new position in O-I Glass during the first quarter worth $34,000. Quarry LP raised its stake in O-I Glass by 499.3% during the first quarter. Quarry LP now owns 1,744 shares of the industrial products company’s stock worth $40,000 after buying an additional 1,453 shares during the last quarter. Signaturefd LLC bought a new position in O-I Glass during the third quarter worth $62,000. Finally, State of Wyoming bought a new position in O-I Glass during the fourth quarter worth $64,000. Institutional investors own 91.29% of the company’s stock.

O-I Glass Stock Down 3.5 %

Shares of NYSE OI opened at $14.56 on Thursday. The stock has a market capitalization of $2.25 billion, a P/E ratio of 6.12, a P/E/G ratio of 0.94 and a beta of 1.35. The company has a 50-day moving average price of $15.54 and a 200-day moving average price of $17.11. O-I Glass, Inc. has a 1 year low of $13.56 and a 1 year high of $23.57. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.40 and a quick ratio of 0.87.

O-I Glass (NYSE:OIGet Free Report) last released its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.10. O-I Glass had a net margin of 5.31% and a return on equity of 27.79%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the firm earned $0.63 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. On average, equities research analysts forecast that O-I Glass, Inc. will post 3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OI. Wells Fargo & Company lowered their target price on shares of O-I Glass from $28.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, October 19th. Truist Financial raised their price target on shares of O-I Glass from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. UBS Group assumed coverage on shares of O-I Glass in a report on Tuesday, January 16th. They issued a “buy” rating and a $26.00 price target for the company. StockNews.com cut shares of O-I Glass from a “buy” rating to a “hold” rating in a report on Monday, November 20th. Finally, Citigroup cut shares of O-I Glass from a “buy” rating to a “neutral” rating and raised their price target for the stock from $17.00 to $18.00 in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $23.18.

Get Our Latest Stock Analysis on OI

O-I Glass Profile

(Free Report)

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.

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Institutional Ownership by Quarter for O-I Glass (NYSE:OI)

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