Segall Bryant & Hamill LLC Has $39.80 Million Stock Position in O-I Glass, Inc. $OI

Segall Bryant & Hamill LLC lowered its position in shares of O-I Glass, Inc. (NYSE:OI) by 1.8% in the third quarter, HoldingsChannel reports. The fund owned 3,068,371 shares of the industrial products company’s stock after selling 55,229 shares during the period. Segall Bryant & Hamill LLC’s holdings in O-I Glass were worth $39,797,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in OI. Alliancebernstein L.P. increased its position in O-I Glass by 194.6% in the second quarter. Alliancebernstein L.P. now owns 7,939,841 shares of the industrial products company’s stock worth $117,033,000 after purchasing an additional 5,244,440 shares during the period. Bank of America Corp DE boosted its stake in shares of O-I Glass by 222.6% in the 2nd quarter. Bank of America Corp DE now owns 2,206,251 shares of the industrial products company’s stock valued at $32,520,000 after purchasing an additional 1,522,384 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in shares of O-I Glass in the 3rd quarter valued at about $18,496,000. Assenagon Asset Management S.A. grew its position in shares of O-I Glass by 181.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,249,473 shares of the industrial products company’s stock worth $16,206,000 after buying an additional 806,059 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of O-I Glass by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 19,349,218 shares of the industrial products company’s stock worth $250,959,000 after buying an additional 691,989 shares during the period. Institutional investors own 97.24% of the company’s stock.

O-I Glass Trading Up 0.2%

Shares of NYSE OI opened at $13.43 on Tuesday. O-I Glass, Inc. has a twelve month low of $9.23 and a twelve month high of $16.91. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -15.99, a P/E/G ratio of 0.62 and a beta of 0.82. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 3.35. The company’s fifty day moving average is $15.18 and its 200-day moving average is $13.79.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, February 10th. The industrial products company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.52 billion. O-I Glass had a negative net margin of 2.01% and a positive return on equity of 18.07%. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. Equities research analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current year.

Analyst Upgrades and Downgrades

OI has been the topic of a number of recent research reports. Wells Fargo & Company raised shares of O-I Glass from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $15.00 to $18.00 in a research note on Tuesday, January 6th. Citigroup dropped their target price on shares of O-I Glass from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, February 12th. Weiss Ratings restated a “sell (d-)” rating on shares of O-I Glass in a research report on Thursday, January 22nd. Truist Financial lifted their price objective on O-I Glass from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, Zacks Research lowered O-I Glass from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.11.

O-I Glass Company Profile

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.