Parametric Portfolio Associates LLC Buys 88,561 Shares of O-I Glass, Inc. (NYSE:OI)

Parametric Portfolio Associates LLC raised its stake in O-I Glass, Inc. (NYSE:OI) by 9.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,028,993 shares of the industrial products company’s stock after purchasing an additional 88,561 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in O-I Glass were worth $16,803,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Profund Advisors LLC raised its holdings in shares of O-I Glass by 3.3% during the second quarter. Profund Advisors LLC now owns 21,533 shares of the industrial products company’s stock valued at $352,000 after acquiring an additional 679 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in O-I Glass by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 88,001 shares of the industrial products company’s stock worth $1,437,000 after purchasing an additional 687 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of O-I Glass by 7.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 13,036 shares of the industrial products company’s stock worth $192,000 after acquiring an additional 946 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of O-I Glass in the first quarter worth $25,000. Finally, Mutual of America Capital Management LLC grew its stake in shares of O-I Glass by 6.8% in the second quarter. Mutual of America Capital Management LLC now owns 22,450 shares of the industrial products company’s stock worth $367,000 after acquiring an additional 1,424 shares during the last quarter. Hedge funds and other institutional investors own 90.61% of the company’s stock.

Several equities research analysts recently commented on the company. Loop Capital assumed coverage on O-I Glass in a research report on Tuesday, October 5th. They set a “hold” rating and a $16.00 price objective on the stock. Truist Securities started coverage on O-I Glass in a research report on Tuesday, September 14th. They set a “buy” rating and a $20.00 price objective on the stock. Royal Bank of Canada lowered their target price on O-I Glass from $16.00 to $15.00 and set a “sector perform” rating on the stock in a report on Thursday, October 28th. Truist started coverage on O-I Glass in a report on Monday, September 13th. They issued a “positive” rating and a $20.00 target price on the stock. Finally, Citigroup increased their target price on O-I Glass from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, October 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, O-I Glass has an average rating of “Hold” and a consensus target price of $16.78.

NYSE OI opened at $11.96 on Thursday. The stock’s 50-day moving average price is $13.63 and its 200-day moving average price is $15.34. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 8.51. O-I Glass, Inc. has a 52 week low of $10.90 and a 52 week high of $19.46. The company has a market capitalization of $1.88 billion, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 0.36 and a beta of 1.68.

O-I Glass (NYSE:OI) last issued its earnings results on Sunday, October 24th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.06. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. O-I Glass had a return on equity of 69.39% and a net margin of 1.23%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. Research analysts anticipate that O-I Glass, Inc. will post 1.81 EPS for the current year.

O-I Glass Company Profile

O-I Glass, Inc engages in manufacturing of glass products. It offers products to the food and beverage sectors. The firm operates through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded in 1929 and is headquartered in Perrysburg, OH.

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Institutional Ownership by Quarter for O-I Glass (NYSE:OI)

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