New York State Common Retirement Fund Has $8.76 Million Stake in O-I Glass, Inc. (NYSE:OI)

New York State Common Retirement Fund raised its stake in O-I Glass, Inc. (NYSE:OIFree Report) by 14.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 523,860 shares of the industrial products company’s stock after buying an additional 65,835 shares during the period. New York State Common Retirement Fund owned about 0.34% of O-I Glass worth $8,764,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in OI. Belpointe Asset Management LLC lifted its holdings in O-I Glass by 109.4% in the first quarter. Belpointe Asset Management LLC now owns 1,518 shares of the industrial products company’s stock valued at $34,000 after buying an additional 793 shares during the period. Lazard Asset Management LLC bought a new stake in shares of O-I Glass during the 1st quarter valued at about $34,000. Quarry LP boosted its position in shares of O-I Glass by 499.3% during the 1st quarter. Quarry LP now owns 1,744 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 1,453 shares in the last quarter. Signaturefd LLC acquired a new stake in O-I Glass during the third quarter worth approximately $62,000. Finally, State of Wyoming bought a new stake in O-I Glass in the fourth quarter worth approximately $64,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

O-I Glass Stock Down 2.0 %

Shares of OI opened at $16.07 on Friday. O-I Glass, Inc. has a 52 week low of $13.56 and a 52 week high of $23.57. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.23 and a quick ratio of 0.87. The stock has a 50 day moving average price of $15.59 and a two-hundred day moving average price of $16.82.

O-I Glass (NYSE:OIGet Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.09. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The business’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. On average, analysts forecast that O-I Glass, Inc. will post 2.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on OI shares. Truist Financial increased their price target on O-I Glass from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. TheStreet lowered shares of O-I Glass from a “b-” rating to a “c-” rating in a report on Tuesday. StockNews.com upgraded O-I Glass from a “hold” rating to a “buy” rating in a research note on Wednesday. UBS Group initiated coverage on O-I Glass in a research report on Tuesday, January 16th. They issued a “buy” rating and a $26.00 target price for the company. Finally, Wells Fargo & Company cut their price target on O-I Glass from $28.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, October 19th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.00.

Read Our Latest Research Report on O-I Glass

O-I Glass Company Profile

(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.

Further Reading

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

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