Amalgamated Bank Has $601,000 Position in O-I Glass, Inc. (NYSE:OI)

Amalgamated Bank lessened its holdings in shares of O-I Glass, Inc. (NYSE:OI) by 3.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 45,823 shares of the industrial products company’s stock after selling 1,747 shares during the period. Amalgamated Bank’s holdings in O-I Glass were worth $601,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Everence Capital Management Inc. raised its stake in shares of O-I Glass by 6.1% in the 3rd quarter. Everence Capital Management Inc. now owns 15,550 shares of the industrial products company’s stock valued at $204,000 after buying an additional 890 shares in the last quarter. Diversified Trust Co raised its position in O-I Glass by 2.0% in the third quarter. Diversified Trust Co now owns 49,596 shares of the industrial products company’s stock worth $651,000 after purchasing an additional 965 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in O-I Glass by 28.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,136 shares during the period. Mackenzie Financial Corp lifted its stake in O-I Glass by 6.1% during the second quarter. Mackenzie Financial Corp now owns 20,091 shares of the industrial products company’s stock worth $224,000 after purchasing an additional 1,162 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in O-I Glass by 40.2% during the first quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company’s stock valued at $76,000 after purchasing an additional 1,318 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Performance

NYSE:OI opened at $12.97 on Friday. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23. O-I Glass, Inc. has a fifty-two week low of $10.08 and a fifty-two week high of $17.58. The company has a 50 day simple moving average of $12.68 and a two-hundred day simple moving average of $12.27. The company has a market capitalization of $2.01 billion, a PE ratio of -4.70 and a beta of 1.20.

O-I Glass (NYSE:OI) last posted its quarterly earnings results 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 positive return on equity of 9.16% and a negative net margin of 6.34%. O-I Glass’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.80 earnings per share. Research analysts anticipate that O-I Glass, Inc. will post 0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OI. Barclays dropped their price objective on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Truist Financial reissued a “buy” rating and set a $16.00 price target (down from $17.00) on shares of O-I Glass in a report on Thursday, August 1st. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada cut their target price on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Robert W. Baird decreased their price target on O-I Glass from $22.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.