KLP Kapitalforvaltning AS Invests $353,000 in O-I Glass, Inc. (NYSE:OI)

KLP Kapitalforvaltning AS purchased a new stake in shares of O-I Glass, Inc. (NYSE:OI) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 32,600 shares of the industrial products company’s stock, valued at approximately $353,000.

Several other hedge funds and other institutional investors also recently modified their holdings of OI. R Squared Ltd bought a new stake in O-I Glass during the 4th quarter valued at approximately $45,000. KBC Group NV raised its position in shares of O-I Glass by 42.5% in the 4th quarter. KBC Group NV now owns 7,740 shares of the industrial products company’s stock worth $84,000 after acquiring an additional 2,309 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of O-I Glass in the 3rd quarter valued at approximately $148,000. Jones Financial Companies Lllp boosted its position in shares of O-I Glass by 277.1% during the fourth quarter. Jones Financial Companies Lllp now owns 14,982 shares of the industrial products company’s stock valued at $162,000 after purchasing an additional 11,009 shares in the last quarter. Finally, Corient Private Wealth LLC grew its stake in O-I Glass by 13.4% in the fourth quarter. Corient Private Wealth LLC now owns 16,544 shares of the industrial products company’s stock worth $179,000 after purchasing an additional 1,954 shares during the period. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Down 6.1 %

OI stock opened at $10.53 on Friday. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -14.82, a P/E/G ratio of 0.24 and a beta of 0.98. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. The business’s 50-day moving average is $11.60 and its two-hundred day moving average is $11.82. O-I Glass, Inc. has a fifty-two week low of $9.85 and a fifty-two week high of $16.19.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. As a group, analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on OI shares. Bank of America boosted their price target on O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $16.00 price objective on shares of O-I Glass in a research report on Monday, March 17th. Wells Fargo & Company decreased their target price on O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Finally, Citigroup dropped their price target on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.38.

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.