Bfsg LLC Purchases 4,340 Shares of O-I Glass, Inc. (NYSE:OI)

Bfsg LLC grew its position in O-I Glass, Inc. (NYSE:OI) by 30.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,770 shares of the industrial products company’s stock after acquiring an additional 4,340 shares during the period. Bfsg LLC’s holdings in O-I Glass were worth $209,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in O-I Glass by 1,538.0% during the 4th quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 3,845 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of O-I Glass by 35.7% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 170,471 shares of the industrial products company’s stock worth $2,792,000 after buying an additional 44,861 shares during the period. Russell Investments Group Ltd. grew its stake in O-I Glass by 31.6% in the 4th quarter. Russell Investments Group Ltd. now owns 142,065 shares of the industrial products company’s stock valued at $2,327,000 after buying an additional 34,073 shares during the last quarter. Van ECK Associates Corp raised its holdings in O-I Glass by 37.8% in the 4th quarter. Van ECK Associates Corp now owns 178,954 shares of the industrial products company’s stock valued at $2,931,000 after acquiring an additional 49,128 shares during the period. Finally, Levin Capital Strategies L.P. lifted its position in O-I Glass by 55.0% during the fourth quarter. Levin Capital Strategies L.P. now owns 1,691,765 shares of the industrial products company’s stock worth $27,711,000 after acquiring an additional 600,239 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other O-I Glass news, Director John Humphrey bought 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average cost of $11.30 per share, for a total transaction of $169,500.00. Following the transaction, the director now directly owns 84,227 shares in the company, valued at $951,765.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.49% of the company’s stock.

Analysts Set New Price Targets

OI has been the topic of several research reports. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada lowered their price objective on O-I Glass from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Barclays reduced their target price on shares of O-I Glass from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Citigroup decreased their price target on shares of O-I Glass from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, July 8th. Finally, Wells Fargo & Company dropped their price objective on shares of O-I Glass from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, O-I Glass has an average rating of “Moderate Buy” and an average target price of $16.89.

O-I Glass Price Performance

OI stock traded down $0.07 during mid-day trading on Thursday, hitting $12.79. The stock had a trading volume of 1,082,713 shares, compared to its average volume of 1,764,872. The firm has a fifty day simple moving average of $11.55 and a 200 day simple moving average of $13.59. O-I Glass, Inc. has a 52 week low of $10.08 and a 52 week high of $20.29. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 2.85. The firm has a market capitalization of $1.99 billion, a P/E ratio of -8.04, a P/E/G ratio of 1.77 and a beta of 1.24.

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