Mackenzie Financial Corp Buys 1,162 Shares of O-I Glass, Inc. (NYSE:OI)

Mackenzie Financial Corp increased its holdings in O-I Glass, Inc. (NYSE:OI) by 6.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,091 shares of the industrial products company’s stock after purchasing an additional 1,162 shares during the period. Mackenzie Financial Corp’s holdings in O-I Glass were worth $224,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Fidelis Capital Partners LLC bought a new position in shares of O-I Glass during the 1st quarter worth $33,000. FinTrust Capital Advisors LLC purchased a new position in shares of O-I Glass in the first quarter worth about $38,000. Headlands Technologies LLC acquired a new stake in O-I Glass during the first quarter worth about $39,000. Bessemer Group Inc. grew 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 worth $76,000 after acquiring an additional 1,318 shares during the period. Finally, nVerses Capital LLC acquired a new stake in O-I Glass during the second quarter worth about $90,000. 97.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on OI shares. Truist Financial reaffirmed a “buy” rating and issued a $16.00 price target (down from $17.00) on shares of O-I Glass in a research note on Thursday, August 1st. Barclays reduced their target price on O-I Glass from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Citigroup lifted their price objective on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada lowered their target price on O-I Glass from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, Robert W. Baird lowered their target price on O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.63.

Insider Buying and Selling at O-I Glass

In other O-I Glass news, Director John Humphrey purchased 15,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $11.30 per share, for a total transaction of $169,500.00. Following the completion of the purchase, the director now directly owns 84,227 shares of the company’s stock, valued at approximately $951,765.10. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.49% of the company’s stock.

O-I Glass Stock Down 0.2 %

Shares of NYSE:OI opened at $13.17 on Tuesday. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.75 and a current ratio of 1.26. O-I Glass, Inc. has a 1-year low of $10.08 and a 1-year high of $17.58. The company’s fifty day moving average is $12.45 and its two-hundred day moving average is $12.86. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -8.28, a price-to-earnings-growth ratio of 1.86 and a beta of 1.17.

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