Range Financial Group LLC Invests $1.01 Million in O-I Glass, Inc. $OI

Range Financial Group LLC purchased a new position in shares of O-I Glass, Inc. (NYSE:OI) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 68,088 shares of the industrial products company’s stock, valued at approximately $1,005,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada raised its position in O-I Glass by 33.9% during the 1st quarter. Royal Bank of Canada now owns 112,800 shares of the industrial products company’s stock worth $1,294,000 after buying an additional 28,548 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of O-I Glass by 154.0% in the first quarter. AQR Capital Management LLC now owns 177,117 shares of the industrial products company’s stock valued at $1,993,000 after acquiring an additional 107,388 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of O-I Glass by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,151 shares of the industrial products company’s stock worth $1,057,000 after acquiring an additional 4,055 shares during the period. United Services Automobile Association acquired a new position in shares of O-I Glass during the first quarter worth about $119,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in O-I Glass by 43.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 526,279 shares of the industrial products company’s stock worth $6,036,000 after purchasing an additional 160,649 shares in the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on OI shares. Zacks Research downgraded shares of O-I Glass from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 3rd. UBS Group reiterated a “buy” rating and set a $21.00 target price on shares of O-I Glass in a research report on Thursday, February 12th. Robert W. Baird set a $20.00 target price on O-I Glass in a research note on Thursday, February 12th. Royal Bank Of Canada reduced their price target on O-I Glass from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Finally, Truist Financial lifted their price target on O-I Glass from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, O-I Glass currently has an average rating of “Hold” and an average price target of $17.56.

O-I Glass Stock Down 0.6%

Shares of NYSE OI opened at $10.19 on Tuesday. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -12.13, a price-to-earnings-growth ratio of 0.67 and a beta of 0.82. O-I Glass, Inc. has a 52 week low of $9.23 and a 52 week high of $16.91. The firm has a 50-day moving average price of $13.46 and a 200 day moving average price of $13.50. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 3.35.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. O-I Glass had a negative net margin of 2.01% and a positive return on equity of 18.07%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the business posted ($0.05) earnings per share. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. Equities research analysts anticipate that O-I Glass, Inc. will post 1.33 EPS for the current fiscal 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.