Public Sector Pension Investment Board Raises Stock Position in O-I Glass, Inc. $OI

Public Sector Pension Investment Board grew its holdings in O-I Glass, Inc. (NYSE:OI) by 29.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 680,559 shares of the industrial products company’s stock after purchasing an additional 153,199 shares during the quarter. Public Sector Pension Investment Board owned 0.44% of O-I Glass worth $8,827,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in O-I Glass during the 2nd quarter worth approximately $29,000. State of Wyoming purchased a new stake in shares of O-I Glass during the second quarter worth $35,000. Smartleaf Asset Management LLC raised its stake in shares of O-I Glass by 64.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 918 shares in the last quarter. Neo Ivy Capital Management purchased a new position in O-I Glass in the second quarter valued at $51,000. Finally, Osaic Holdings Inc. boosted its holdings in O-I Glass by 29.7% in the second quarter. Osaic Holdings Inc. now owns 6,779 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 1,554 shares during the period. Institutional investors and hedge funds own 97.24% of the company’s stock.

Wall Street Analyst Weigh In

OI has been the topic of several recent research reports. Citigroup cut their price target on O-I Glass from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday. Robert W. Baird set a $20.00 price objective on O-I Glass in a research report on Thursday. Royal Bank Of Canada restated an “outperform” rating and set a $19.00 target price on shares of O-I Glass in a research note on Thursday, January 15th. Truist Financial lifted their price target on shares of O-I Glass from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, Zacks Research cut shares of O-I Glass from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.22.

O-I Glass Price Performance

Shares of NYSE OI opened at $14.76 on Tuesday. The stock’s 50-day simple moving average is $15.33 and its 200-day simple moving average is $13.71. The firm has a market capitalization of $2.25 billion, a PE ratio of -17.57, a price-to-earnings-growth ratio of 0.67 and a beta of 0.78. O-I Glass, Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $16.91. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.77 and a current ratio of 1.25.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the company posted ($0.05) earnings per share. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, equities research analysts forecast that O-I Glass, Inc. will post 1.33 EPS for the current fiscal 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.