Creative Planning Buys New Shares in O-I Glass, Inc. (NYSE:OI)

Creative Planning acquired a new position in shares of O-I Glass, Inc. (NYSE:OI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 42,669 shares of the industrial products company’s stock, valued at approximately $475,000.

A number of other large investors have also made changes to their positions in the stock. Fidelis Capital Partners LLC bought a new position in O-I Glass during the first quarter valued at about $33,000. FinTrust Capital Advisors LLC acquired a new position in shares of O-I Glass in the first quarter valued at $38,000. Headlands Technologies LLC bought a new position in O-I Glass in the first quarter worth $39,000. Bessemer Group Inc. boosted its stake 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 buying an additional 1,318 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of O-I Glass in the 2nd quarter valued at $90,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

Insider Transactions at O-I Glass

In other news, Director John Humphrey acquired 15,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $11.30 per share, for a total transaction of $169,500.00. Following the completion of the transaction, the director now directly owns 84,227 shares in the company, valued at $951,765.10. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.49% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on OI shares. UBS Group decreased their target price on shares of O-I Glass from $26.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Truist Financial restated a “buy” rating and set a $16.00 target price (down previously from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. Wells Fargo & Company lowered their price target on O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Barclays dropped their price objective on O-I Glass from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Finally, Robert W. Baird reduced their target price on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and five 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 an average target price of $16.63.

O-I Glass Stock Down 2.7 %

Shares of NYSE:OI opened at $12.77 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 2.85. The firm has a market cap of $1.99 billion, a P/E ratio of -8.03, a P/E/G ratio of 1.88 and a beta of 1.17. O-I Glass, Inc. has a 12 month low of $10.08 and a 12 month high of $17.58. The company’s 50-day moving average price is $12.54 and its two-hundred day moving average price is $12.76.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.44 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the firm earned $0.88 earnings per share. O-I Glass’s revenue was down 8.5% compared to the same quarter last year. As a group, research analysts forecast that O-I Glass, Inc. will post 1.13 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.