Legal & General Group Plc Makes New $3.49 Million Investment in O-I Glass, Inc. $OI

Legal & General Group Plc acquired a new position in shares of O-I Glass, Inc. (NYSE:OI) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 362,843 shares of the industrial products company’s stock, valued at approximately $3,494,000. Legal & General Group Plc owned 0.24% of O-I Glass as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of OI. Farther Finance Advisors LLC raised its holdings in shares of O-I Glass by 87.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 830 shares in the last quarter. Headlands Technologies LLC acquired a new stake in O-I Glass during the 2nd quarter worth $29,000. Quarry LP acquired a new stake in shares of O-I Glass in the fourth quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd increased its stake in O-I Glass by 36,533.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 2,192 shares during the period. Finally, State of Wyoming purchased a new position in shares of O-I Glass in the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

Analyst Upgrades and Downgrades

OI has been the subject of several recent analyst reports. Citigroup raised O-I Glass from a “neutral” rating to a “buy” rating and raised their price target for the company from $8.00 to $9.00 in a report on Friday, August 21st. Zacks Research raised shares of O-I Glass from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. BNP Paribas Exane downgraded shares of O-I Glass from an “outperform” rating to a “neutral” rating and set a $8.50 price target on the stock. in a research note on Thursday, July 30th. UBS Group reduced their price objective on O-I Glass from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, Robert W. Baird set a $13.00 target price on shares of O-I Glass in a research report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $10.31.

O-I Glass Stock Up 1.7%

Shares of NYSE OI opened at $7.15 on Friday. The company has a debt-to-equity ratio of 8.89, a quick ratio of 0.77 and a current ratio of 1.26. O-I Glass, Inc. has a 1 year low of $6.29 and a 1 year high of $16.91. The stock’s 50-day simple moving average is $8.10 and its 200-day simple moving average is $9.55. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -0.95, a PEG ratio of 2.50 and a beta of 0.66.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.15). The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.68 billion. O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%.O-I Glass’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 earnings per share. As a group, equities analysts anticipate that O-I Glass, Inc. will post 0.39 earnings per share 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.