Sterling Capital Management LLC Boosts Holdings in O-I Glass, Inc. (NYSE:OI)

Sterling Capital Management LLC grew its position in O-I Glass, Inc. (NYSE:OI) by 807.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,881 shares of the industrial products company’s stock after purchasing an additional 4,343 shares during the quarter. Sterling Capital Management LLC’s holdings in O-I Glass were worth $53,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. R Squared Ltd purchased a new position in O-I Glass during the 4th quarter worth $45,000. KBC Group NV boosted its holdings in O-I Glass by 42.5% in the fourth quarter. KBC Group NV now owns 7,740 shares of the industrial products company’s stock worth $84,000 after acquiring an additional 2,309 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of O-I Glass during the fourth quarter worth about $86,000. Jones Financial Companies Lllp increased its holdings in shares of O-I Glass by 277.1% during the fourth quarter. Jones Financial Companies Lllp now owns 14,982 shares of the industrial products company’s stock valued at $162,000 after acquiring an additional 11,009 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of O-I Glass by 13.4% in the 4th quarter. Corient Private Wealth LLC now owns 16,544 shares of the industrial products company’s stock valued at $179,000 after purchasing an additional 1,954 shares during the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.

O-I Glass Stock Performance

Shares of OI stock opened at $11.25 on Thursday. The company has a market capitalization of $1.74 billion, a P/E ratio of -15.85, a P/E/G ratio of 0.24 and a beta of 0.98. O-I Glass, Inc. has a 12-month low of $9.23 and a 12-month high of $15.72. The business’s 50 day moving average is $11.30 and its two-hundred day moving average is $11.58. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. Analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

Analyst Ratings Changes

OI has been the topic of a number of recent analyst reports. Citigroup cut their price target on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Bank of America upped their target price on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company lowered their price target on O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $16.00 price target on shares of O-I Glass in a research note on Monday, March 17th. Finally, Truist Financial reduced their price objective on O-I Glass from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $15.00.

O-I Glass 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.