LSV Asset Management Reduces Holdings in O-I Glass, Inc. $OI

LSV Asset Management lowered its holdings in shares of O-I Glass, Inc. (NYSE:OI) by 6.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,602,478 shares of the industrial products company’s stock after selling 117,986 shares during the period. LSV Asset Management’s holdings in O-I Glass were worth $20,784,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of OI. Bryce Point Capital LLC purchased a new position in shares of O-I Glass during the 3rd quarter worth approximately $533,000. Breakwater Capital Group acquired a new stake in O-I Glass during the 3rd quarter valued at $151,000. Envestnet Asset Management Inc. purchased a new position in O-I Glass during the third quarter worth $1,526,000. State of Wyoming raised its holdings in shares of O-I Glass by 110.9% in the third quarter. State of Wyoming now owns 4,942 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 2,599 shares during the last quarter. Finally, AlphaQuest LLC lifted its position in shares of O-I Glass by 344.7% in the third quarter. AlphaQuest LLC now owns 34,312 shares of the industrial products company’s stock valued at $445,000 after acquiring an additional 26,596 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the company. Citigroup dropped their price objective on O-I Glass from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday. Zacks Research cut shares of O-I Glass from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Bank of America upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $17.00 in a report on Monday, November 17th. Robert W. Baird set a $20.00 price objective on shares of O-I Glass in a research report on Thursday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of O-I Glass in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, O-I Glass currently has a consensus rating of “Moderate Buy” and an average price target of $18.22.

O-I Glass Stock Down 2.2%

Shares of NYSE:OI opened at $14.76 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 3.35. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -17.57, a PEG ratio of 0.19 and a beta of 0.78. The stock’s 50-day moving average price is $15.31 and its two-hundred day moving average price is $13.69. O-I Glass, Inc. has a 12-month low of $9.23 and a 12-month high of $16.91.

O-I Glass (NYSE:OI) last posted 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. O-I Glass had a negative net margin of 2.01% and a positive return on equity of 18.07%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the company posted ($0.05) EPS. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, research analysts forecast that O-I Glass, Inc. will post 1.33 EPS for the current year.

About O-I Glass

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.