KLP Kapitalforvaltning AS Makes New $353,000 Investment in O-I Glass, Inc. (NYSE:OI)

KLP Kapitalforvaltning AS bought a new position in O-I Glass, Inc. (NYSE:OI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 32,600 shares of the industrial products company’s stock, valued at approximately $353,000.

Several other hedge funds and other institutional investors also recently modified their holdings of OI. R Squared Ltd purchased a new position in O-I Glass in the 4th quarter valued at approximately $45,000. KBC Group NV boosted its holdings in shares of 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 during the period. XTX Topco Ltd purchased a new position in shares of O-I Glass in the third quarter valued at $148,000. Jones Financial Companies Lllp raised its stake in shares of O-I Glass by 277.1% during the 4th quarter. Jones Financial Companies Lllp now owns 14,982 shares of the industrial products company’s stock valued at $162,000 after purchasing an additional 11,009 shares during the period. Finally, Corient Private Wealth LLC lifted its holdings in O-I Glass by 13.4% during the 4th quarter. Corient Private Wealth LLC now owns 16,544 shares of the industrial products company’s stock worth $179,000 after purchasing an additional 1,954 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wells Fargo & Company reduced their target price on O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Bank of America upped their target price 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. Citigroup lowered their target price 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $16.00 price target on shares of O-I Glass in a research report on Monday, March 17th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.38.

O-I Glass Trading Down 6.1 %

Shares of OI opened at $10.53 on Friday. The company has a debt-to-equity ratio of 3.78, a current ratio of 1.15 and a quick ratio of 0.70. O-I Glass, Inc. has a 1-year low of $9.85 and a 1-year high of $16.19. The company has a market capitalization of $1.62 billion, a P/E ratio of -14.82, a P/E/G ratio of 0.24 and a beta of 0.98. The firm’s 50 day simple moving average is $11.60 and its 200 day simple moving average is $11.82.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, beating the consensus estimate 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%. Sell-side analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

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.