Louisiana State Employees Retirement System Purchases New Holdings in O-I Glass, Inc. (NYSE:OI)

Louisiana State Employees Retirement System purchased a new stake in O-I Glass, Inc. (NYSE:OI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 77,600 shares of the industrial products company’s stock, valued at approximately $1,271,000. Louisiana State Employees Retirement System owned approximately 0.05% of O-I Glass as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Covestor Ltd lifted its position in O-I Glass by 259.7% in the 3rd quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock worth $28,000 after buying an additional 1,205 shares in the last quarter. Signaturefd LLC purchased a new stake in O-I Glass in the 3rd quarter worth approximately $62,000. International Assets Investment Management LLC lifted its position in O-I Glass by 1,538.0% in the 4th quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company’s stock worth $67,000 after buying an additional 3,845 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in O-I Glass by 29.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,289 shares of the industrial products company’s stock worth $172,000 after buying an additional 2,365 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in O-I Glass by 23.8% in the 3rd quarter. National Bank of Canada FI now owns 10,405 shares of the industrial products company’s stock worth $171,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Performance

NYSE:OI opened at $14.81 on Tuesday. O-I Glass, Inc. has a 1 year low of $13.56 and a 1 year high of $23.57. The firm’s fifty day simple moving average is $16.16 and its 200 day simple moving average is $15.64. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 2.69. The firm has a market capitalization of $2.31 billion, a PE ratio of -19.75, a PEG ratio of 1.02 and a beta of 1.35.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. O-I Glass had a negative net margin of 1.45% and a positive return on equity of 24.90%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the business posted $0.38 EPS. O-I Glass’s revenue was down 3.1% compared to the same quarter last year. On average, sell-side analysts anticipate that O-I Glass, Inc. will post 2.33 EPS for the current year.

Analyst Ratings Changes

OI has been the subject of a number of research analyst reports. Citigroup downgraded shares of O-I Glass from a “buy” rating to a “neutral” rating and increased their target price for the stock from $17.00 to $18.00 in a research report on Wednesday, January 3rd. Bank of America restated a “neutral” rating and set a $16.00 price target (down previously from $21.00) on shares of O-I Glass in a report on Friday. TheStreet downgraded shares of O-I Glass from a “b-” rating to a “c-” rating in a report on Tuesday, February 6th. UBS Group initiated coverage on shares of O-I Glass in a report on Tuesday, January 16th. They set a “buy” rating and a $26.00 price target on the stock. Finally, Barclays raised their price target on shares of O-I Glass from $16.00 to $18.00 and gave the company an “equal weight” rating in a report on Tuesday, February 13th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.67.

About O-I Glass

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.