Mutual of America Capital Management LLC Sells 990 Shares of O-I Glass, Inc. (NYSE:OI)

Mutual of America Capital Management LLC cut its holdings in shares of O-I Glass, Inc. (NYSE:OI) by 4.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,436 shares of the industrial products company’s stock after selling 990 shares during the quarter. Mutual of America Capital Management LLC’s holdings in O-I Glass were worth $257,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of O-I Glass by 2.3% during the first quarter. Principal Financial Group Inc. now owns 767,260 shares of the industrial products company’s stock valued at $8,800,000 after purchasing an additional 17,254 shares in the last quarter. SG Americas Securities LLC grew its position in shares of O-I Glass by 117.7% during the first quarter. SG Americas Securities LLC now owns 45,766 shares of the industrial products company’s stock valued at $525,000 after purchasing an additional 24,743 shares in the last quarter. Northern Trust Corp grew its position in shares of O-I Glass by 8.5% during the fourth quarter. Northern Trust Corp now owns 1,738,277 shares of the industrial products company’s stock valued at $18,843,000 after purchasing an additional 135,989 shares in the last quarter. GAMMA Investing LLC grew its position in shares of O-I Glass by 79.3% during the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,142 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of O-I Glass during the fourth quarter valued at about $1,199,000. 97.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on OI. BNP Paribas set a $18.00 price target on O-I Glass in a research report on Wednesday, June 25th. Truist Financial set a $21.00 price target on O-I Glass and gave the stock a “buy” rating in a research report on Friday, July 11th. UBS Group reiterated a “buy” rating and issued a $19.00 price target (up previously from $17.00) on shares of O-I Glass in a research report on Wednesday, July 9th. Wall Street Zen upgraded O-I Glass from a “hold” rating to a “buy” rating in a research report on Sunday, June 29th. Finally, BNP Paribas Exane began coverage on shares of O-I Glass in a research note on Wednesday, June 25th. They issued an “outperform” rating and a $18.00 price objective for the company. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Insider Activity at O-I Glass

In other O-I Glass news, SVP Darrow A. Abrahams acquired 3,828 shares of O-I Glass stock in a transaction that occurred on Tuesday, August 5th. The stock was bought at an average price of $13.05 per share, with a total value of $49,955.40. Following the completion of the purchase, the senior vice president directly owned 184,447 shares of the company’s stock, valued at approximately $2,407,033.35. This represents a 2.12% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gordon Hardie acquired 8,000 shares of O-I Glass stock in a transaction that occurred on Tuesday, August 5th. The stock was acquired at an average cost of $13.10 per share, with a total value of $104,800.00. Following the purchase, the chief executive officer directly owned 515,817 shares of the company’s stock, valued at $6,757,202.70. This represents a 1.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.93% of the company’s stock.

O-I Glass Stock Performance

O-I Glass stock opened at $13.77 on Thursday. The company has a 50 day moving average price of $14.26 and a 200-day moving average price of $12.72. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.77 and a current ratio of 1.24. O-I Glass, Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $16.04. The company has a market capitalization of $2.12 billion, a PE ratio of -8.35, a P/E/G ratio of 0.26 and a beta of 0.92.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.12. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The company’s revenue was down 1.3% on a year-over-year basis. As a group, equities analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

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.