Principal Financial Group Inc. Boosts Stock Position in O-I Glass, Inc. (NYSE:OI)

Principal Financial Group Inc. lifted its stake in O-I Glass, Inc. (NYSE:OI) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 750,006 shares of the industrial products company’s stock after purchasing an additional 15,964 shares during the quarter. Principal Financial Group Inc. owned about 0.48% of O-I Glass worth $8,130,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in O-I Glass by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company’s stock valued at $46,827,000 after purchasing an additional 37,238 shares during the last quarter. Private Management Group Inc. raised its position in shares of O-I Glass by 20.8% during the 3rd quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company’s stock valued at $39,698,000 after buying an additional 520,452 shares during the period. Segall Bryant & Hamill LLC acquired a new position in O-I Glass in the third quarter valued at approximately $32,350,000. Highland Peak Capital LLC purchased a new position in O-I Glass in the third quarter worth approximately $27,132,000. Finally, Charles Schwab Investment Management Inc. grew its position in O-I Glass by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,823,138 shares of the industrial products company’s stock worth $23,920,000 after acquiring an additional 130,422 shares during the period. Hedge funds and other institutional investors own 97.24% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Bank of America upped their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Wells Fargo & Company dropped their target price on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, Citigroup cut their target price on O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.38.

O-I Glass Price Performance

O-I Glass stock opened at $11.46 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. O-I Glass, Inc. has a 52-week low of $9.85 and a 52-week high of $17.58. The firm has a market cap of $1.76 billion, a PE ratio of -16.13, a price-to-earnings-growth ratio of 0.24 and a beta of 1.22. The company’s 50 day moving average is $11.05 and its two-hundred day moving average is $11.95.

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

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.