Deroy & Devereaux Private Investment Counsel Inc. Buys 600,462 Shares of O-I Glass, Inc. $OI

Deroy & Devereaux Private Investment Counsel Inc. grew its position in O-I Glass, Inc. (NYSE:OI) by 42.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,026,525 shares of the industrial products company’s stock after acquiring an additional 600,462 shares during the period. O-I Glass accounts for 1.5% of Deroy & Devereaux Private Investment Counsel Inc.’s portfolio, making the stock its 29th largest holding. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in O-I Glass were worth $29,912,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in O-I Glass by 3.7% during the third quarter. Vanguard Group Inc. now owns 19,349,218 shares of the industrial products company’s stock worth $250,959,000 after buying an additional 691,989 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of O-I Glass by 2.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 8,232,239 shares of the industrial products company’s stock valued at $106,773,000 after acquiring an additional 170,696 shares during the period. Alliancebernstein L.P. boosted its stake in O-I Glass by 0.7% during the 3rd quarter. Alliancebernstein L.P. now owns 7,996,786 shares of the industrial products company’s stock worth $103,718,000 after acquiring an additional 56,945 shares during the last quarter. Highland Peak Capital LLC boosted its stake in O-I Glass by 22.2% during the 3rd quarter. Highland Peak Capital LLC now owns 3,113,780 shares of the industrial products company’s stock worth $40,386,000 after acquiring an additional 566,703 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in O-I Glass by 18.7% during the third quarter. Bank of America Corp DE now owns 2,618,748 shares of the industrial products company’s stock valued at $33,965,000 after purchasing an additional 412,497 shares during the period. Institutional investors and hedge funds own 97.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on OI. Wall Street Zen downgraded O-I Glass from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings restated a “sell (d-)” rating on shares of O-I Glass in a report on Thursday, January 22nd. Wells Fargo & Company lowered O-I Glass from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $18.00 to $13.00 in a research report on Friday, March 20th. UBS Group cut their price objective on O-I Glass from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Finally, Citigroup decreased their price objective on O-I Glass from $16.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.67.

O-I Glass Trading Up 4.8%

Shares of NYSE:OI opened at $10.91 on Friday. O-I Glass, Inc. has a 52-week low of $9.84 and a 52-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. The company has a market capitalization of $1.67 billion, a P/E ratio of -12.98, a price-to-earnings-growth ratio of 0.87 and a beta of 0.84. The company has a 50-day simple moving average of $12.06 and a 200 day simple moving average of $13.27.

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

O-I Glass Company Profile

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.