O-I Glass, Inc. (NYSE:OI) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of O-I Glass, Inc. (NYSE:OI) by 2.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 767,260 shares of the industrial products company’s stock after purchasing an additional 17,254 shares during the period. Principal Financial Group Inc. owned about 0.50% of O-I Glass worth $8,800,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of O-I Glass by 79.3% during the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 1,142 shares during the last quarter. Sterling Capital Management LLC boosted its position in O-I Glass by 807.2% in the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company’s stock valued at $53,000 after buying an additional 4,343 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in O-I Glass in the 4th quarter valued at about $86,000. Point72 Asset Management L.P. bought a new position in shares of O-I Glass during the fourth quarter worth about $89,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of O-I Glass during the fourth quarter worth about $106,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on OI shares. BNP Paribas set a $18.00 target price on O-I Glass in a research report on Wednesday, June 25th. BNP Paribas Exane started coverage on shares of O-I Glass in a research note on Wednesday, June 25th. They set an “outperform” rating and a $18.00 target price for the company. Truist Financial set a $21.00 price target on shares of O-I Glass and gave the company a “buy” rating in a report on Friday. Wall Street Zen upgraded O-I Glass from a “hold” rating to a “buy” rating in a research note on Sunday, June 29th. Finally, UBS Group restated a “buy” rating and set a $19.00 price objective (up previously from $17.00) on shares of O-I Glass in a report on Wednesday, July 9th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.30.

O-I Glass Stock Performance

NYSE OI opened at $15.23 on Tuesday. O-I Glass, Inc. has a 52-week low of $9.23 and a 52-week high of $16.04. The company has a 50-day simple moving average of $13.99 and a 200 day simple moving average of $12.22. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.73 and a current ratio of 1.24. The company has a market capitalization of $2.36 billion, a PE ratio of -12.08, a price-to-earnings-growth ratio of 0.31 and a beta of 0.97.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.22. O-I Glass had a negative net margin of 2.98% and a positive return on equity of 8.48%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the business earned $0.45 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. On average, research analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current year.

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.