TD Asset Management Inc Lowers Holdings in O-I Glass, Inc. (NYSE:OI)

TD Asset Management Inc lowered its holdings in shares of O-I Glass, Inc. (NYSE:OI) by 41.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,300 shares of the industrial products company’s stock after selling 20,700 shares during the quarter. TD Asset Management Inc’s holdings in O-I Glass were worth $326,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Markel Group Inc. grew its position in shares of O-I Glass by 25.0% during the second quarter. Markel Group Inc. now owns 674,100 shares of the industrial products company’s stock valued at $7,503,000 after purchasing an additional 135,000 shares in the last quarter. Rhumbline Advisers lifted its position in O-I Glass by 5.4% during the second quarter. Rhumbline Advisers now owns 498,438 shares of the industrial products company’s stock valued at $5,548,000 after purchasing an additional 25,353 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of O-I Glass in the 2nd quarter worth $90,000. Lee Danner & Bass Inc. bought a new stake in shares of O-I Glass in the 2nd quarter worth about $1,404,000. Finally, Innealta Capital LLC purchased a new stake in shares of O-I Glass during the 2nd quarter valued at about $104,000. Institutional investors own 97.24% of the company’s stock.

Insiders Place Their Bets

In other news, Director John Humphrey acquired 15,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $11.30 per share, with a total value of $169,500.00. Following the transaction, the director now directly owns 84,227 shares in the company, valued at $951,765.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.49% of the stock is currently owned by corporate insiders.

O-I Glass Trading Up 6.5 %

NYSE:OI opened at $12.70 on Monday. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.75 and a current ratio of 1.26. The firm has a 50-day simple moving average of $11.88 and a 200-day simple moving average of $13.23. O-I Glass, Inc. has a one year low of $10.08 and a one year high of $18.70. The firm has a market cap of $1.98 billion, a P/E ratio of -7.99, a P/E/G ratio of 1.72 and a beta of 1.17.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. O-I Glass had a negative net margin of 4.32% and a positive return on equity of 15.64%. O-I Glass’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 earnings per share. Equities analysts anticipate that O-I Glass, Inc. will post 1.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

OI has been the subject of several recent research reports. Robert W. Baird dropped their price target on O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Truist Financial restated a “buy” rating and issued a $16.00 price target (down from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. Citigroup reduced their price objective on shares of O-I Glass from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, July 8th. Wells Fargo & Company reduced their target price on O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Finally, StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.25.

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.