Post Time：Sep 23,2024Classify:Industry NewsView：966
Federated Hermes Inc. cut its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 34.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,021 shares of the industrial products company's stock after selling 55,108 shares during the quarter. Federated Hermes Inc. owned about 0.07% of O-I Glass worth $1,147,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of OI. American Century Companies Inc. lifted its holdings in shares of O-I Glass by 35.3% during the 2nd quarter. American Century Companies Inc. now owns 213,392 shares of the industrial products company's stock worth $2,375,000 after acquiring an additional 55,701 shares during the period. Headlands Technologies LLC boosted its stake in O-I Glass by 986.6% in the second quarter. Headlands Technologies LLC now owns 25,242 shares of the industrial products company's stock valued at $281,000 after acquiring an additional 22,919 shares during the last quarter. Levin Capital Strategies L.P. grew its stake in shares of O-I Glass by 25.0% during the second quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company's stock worth $39,082,000 after purchasing an additional 703,308 shares during the period. Private Management Group Inc. grew its position in shares of O-I Glass by 21.3% during the 2nd quarter. Private Management Group Inc. now owns 2,505,279 shares of the industrial products company's stock worth $27,884,000 after buying an additional 439,838 shares during the period. Finally, tru Independence LLC grew its holdings in O-I Glass by 2.2% during the second quarter. tru Independence LLC now owns 349,898 shares of the industrial products company's stock valued at $3,894,000 after purchasing an additional 7,635 shares during the period. 97.24% of the stock is owned by institutional investors.
A number of equities research analysts have recently commented on OI shares. Wells Fargo & Company dropped their price target on O-I Glass from $19.00 to $18.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 17th. UBS Group reduced their price target on shares of O-I Glass from $26.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, July 17th. Barclays dropped their price objective on shares of O-I Glass from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Thursday, August 1st. Citigroup reduced their target price on shares of O-I Glass from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Monday, July 8th. Finally, StockNews.com upgraded O-I Glass from a "sell" rating to a "hold" rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.25.
Get Our Latest Analysis on O-I Glass
In other O-I Glass news, Director John Humphrey purchased 15,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $11.30 per share, with a total value of $169,500.00. Following the completion of the transaction, the director now directly owns 84,227 shares in the company, valued at $951,765.10. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.49% of the stock is currently owned by company insiders.
NYSE OI traded down $0.43 during trading hours on Friday, hitting $12.99. 3,121,414 shares of the company traded hands, compared to its average volume of 1,170,265. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.75 and a current ratio of 1.26. The business's 50-day moving average is $12.11 and its 200-day moving average is $13.10. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of -8.17, a P/E/G ratio of 1.87 and a beta of 1.17. O-I Glass, Inc. has a twelve month low of $10.08 and a twelve month high of $18.08.
O-I Glass (NYSE:OI - Get Free Report) last released its earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. O-I Glass had a negative net margin of 4.32% and a positive return on equity of 15.64%. The business had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same period last year, the business earned $0.88 earnings per share. The firm's revenue was down 8.5% on a year-over-year basis. Sell-side analysts anticipate that O-I Glass, Inc. will post 1.13 earnings per share for the current year.
(Free Report)
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.
Source: https://www.marketbeat.com/Author: shangyi
