Principal Financial Group Inc. Has $9.63 Million Stock Position in O-I Glass, Inc. (NYSE:OI)

Principal Financial Group Inc. lessened its position in shares of O-I Glass, Inc. (NYSE:OI) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 734,042 shares of the industrial products company’s stock after selling 34,021 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of O-I Glass worth $9,631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new position in O-I Glass in the third quarter worth about $27,000. GAMMA Investing LLC raised its holdings in shares of O-I Glass by 371.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock worth $32,000 after buying an additional 1,892 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of O-I Glass by 1,337.5% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock worth $32,000 after buying an additional 2,675 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of O-I Glass by 28.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after buying an additional 1,136 shares during the period. Finally, KBC Group NV boosted its stake in O-I Glass by 38.9% in the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock valued at $71,000 after buying an additional 1,521 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Citigroup lifted their price objective on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Royal Bank of Canada dropped their price objective on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Barclays cut their target price on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and raised their price target for the company from $14.00 to $16.00 in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, O-I Glass currently has an average rating of “Moderate Buy” and an average target price of $16.25.

O-I Glass Stock Up 1.3 %

Shares of OI opened at $10.43 on Tuesday. The business’s fifty day moving average price is $11.89 and its two-hundred day moving average price is $11.99. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -3.78 and a beta of 1.20. O-I Glass, Inc. has a 52 week low of $9.85 and a 52 week high of $17.58. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. O-I Glass’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, analysts predict that O-I Glass, Inc. will post 0.76 earnings per share 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.