State of New Jersey Common Pension Fund D Makes New Investment in O-I Glass, Inc. $OI

State of New Jersey Common Pension Fund D acquired a new position in O-I Glass, Inc. (NYSE:OI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 142,793 shares of the industrial products company’s stock, valued at approximately $2,105,000. State of New Jersey Common Pension Fund D owned approximately 0.09% of O-I Glass as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of OI. GAMMA Investing LLC boosted its stake in O-I Glass by 79.3% in the first 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 in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of O-I Glass during the first quarter valued at $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of O-I Glass during the first quarter valued at $85,000. CWM LLC boosted its holdings in O-I Glass by 623.9% in the first quarter. CWM LLC now owns 8,390 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 7,231 shares during the last quarter. Finally, AlphaQuest LLC increased its position in O-I Glass by 1,392.5% in the second quarter. AlphaQuest LLC now owns 7,716 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 7,199 shares during the period. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Stock Down 4.1%

Shares of NYSE OI opened at $11.57 on Thursday. O-I Glass, Inc. has a 52-week low of $9.23 and a 52-week high of $16.04. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.77 and a current ratio of 1.24. The stock has a market cap of $1.78 billion, a P/E ratio of -7.01, a P/E/G ratio of 0.23 and a beta of 0.93. The firm has a 50 day moving average price of $12.64 and a 200 day moving average price of $13.23.

O-I Glass (NYSE:OI) last posted its earnings results on Wednesday, March 1st. The industrial products company reported $0.36 earnings per share for the quarter. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. The company had revenue of $1.59 billion for the quarter. Analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current year.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on OI shares. UBS Group restated a “buy” rating and set a $19.00 target price (up from $17.00) on shares of O-I Glass in a research report on Wednesday, July 9th. Citigroup increased their price objective on shares of O-I Glass from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, July 3rd. Zacks Research cut shares of O-I Glass from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of O-I Glass in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company restated a “mixed” rating on shares of O-I Glass in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.56.

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.