Algert Global LLC Purchases 389,578 Shares of O-I Glass, Inc. $OI

Algert Global LLC boosted its holdings in shares of O-I Glass, Inc. (NYSE:OI) by 247.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 546,978 shares of the industrial products company’s stock after buying an additional 389,578 shares during the period. Algert Global LLC owned approximately 0.36% of O-I Glass worth $7,094,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of O-I Glass by 33.9% during the first quarter. Royal Bank of Canada now owns 112,800 shares of the industrial products company’s stock valued at $1,294,000 after buying an additional 28,548 shares during the last quarter. AQR Capital Management LLC boosted its stake in O-I Glass by 154.0% during the 1st quarter. AQR Capital Management LLC now owns 177,117 shares of the industrial products company’s stock valued at $1,993,000 after purchasing an additional 107,388 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in O-I Glass by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,151 shares of the industrial products company’s stock worth $1,057,000 after purchasing an additional 4,055 shares in the last quarter. United Services Automobile Association bought a new stake in O-I Glass during the 1st quarter worth approximately $119,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in O-I Glass by 43.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 526,279 shares of the industrial products company’s stock worth $6,036,000 after purchasing an additional 160,649 shares in the last quarter. 97.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

OI has been the topic of a number of recent research reports. Robert W. Baird set a $20.00 target price on O-I Glass in a report on Thursday, February 12th. Citigroup cut their target price on O-I Glass from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, February 12th. Wall Street Zen lowered O-I Glass from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Royal Bank Of Canada lowered their price target on O-I Glass from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Finally, Zacks Research cut O-I Glass from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, O-I Glass presently has an average rating of “Moderate Buy” and a consensus target price of $18.11.

O-I Glass Stock Performance

Shares of OI opened at $10.48 on Tuesday. The stock has a 50 day moving average of $14.49 and a 200 day moving average of $13.67. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -12.47, a PEG ratio of 0.50 and a beta of 0.82. O-I Glass, Inc. has a 12 month low of $9.23 and a 12 month high of $16.91. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 3.35.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. O-I Glass had a positive return on equity of 18.07% and a negative net margin of 2.01%.The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. As a group, sell-side analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share 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.