Mutual of America Capital Management LLC Has $307,000 Stock Position in O-I Glass, Inc. (NYSE:OI)

Mutual of America Capital Management LLC cut its stake in shares of O-I Glass, Inc. (NYSE:OI) by 8.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 23,422 shares of the industrial products company’s stock after selling 2,174 shares during the quarter. Mutual of America Capital Management LLC’s holdings in O-I Glass were worth $307,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of OI. Dimensional Fund Advisors LP raised its holdings in O-I Glass by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock valued at $78,952,000 after buying an additional 573,300 shares during the last quarter. Levin Capital Strategies L.P. raised its stake in shares of O-I Glass by 25.0% during the second quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company’s stock valued at $39,082,000 after acquiring an additional 703,308 shares during the last quarter. Private Management Group Inc. raised its stake in shares of O-I Glass by 20.8% during the third quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company’s stock valued at $39,698,000 after acquiring an additional 520,452 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of O-I Glass by 27.5% during the second quarter. Millennium Management LLC now owns 1,965,426 shares of the industrial products company’s stock worth $21,875,000 after purchasing an additional 424,102 shares during the period. Finally, Markel Group Inc. grew its stake in shares of O-I Glass by 20.8% in the third quarter. Markel Group Inc. now owns 814,100 shares of the industrial products company’s stock worth $10,681,000 after purchasing an additional 140,000 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors.

O-I Glass Price Performance

Shares of OI opened at $12.69 on Friday. O-I Glass, Inc. has a 1-year low of $10.08 and a 1-year high of $17.58. The firm has a market cap of $1.96 billion, a PE ratio of -4.60 and a beta of 1.20. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. The firm has a fifty day simple moving average of $12.71 and a two-hundred day simple moving average of $12.22.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The company’s revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 EPS. On average, equities analysts anticipate that O-I Glass, Inc. will post 0.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OI. Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $16.00 in a research report on Thursday, October 17th. Barclays decreased their target price on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Robert W. Baird decreased their price objective on O-I Glass from $22.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Citigroup increased their target price on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada lowered their price target on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, O-I Glass currently has an average rating of “Moderate Buy” and an average target price of $16.25.

O-I Glass Company Profile

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.