Everence Capital Management Inc. Acquires New Shares in O-I Glass, Inc. (NYSE:OI)

Everence Capital Management Inc. acquired a new position in shares of O-I Glass, Inc. (NYSE:OI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 14,660 shares of the industrial products company’s stock, valued at approximately $240,000.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of O-I Glass by 1.5% during the third quarter. Vanguard Group Inc. now owns 19,597,610 shares of the industrial products company’s stock worth $253,789,000 after purchasing an additional 291,640 shares during the last quarter. State Street Corp boosted its holdings in shares of O-I Glass by 0.9% during the third quarter. State Street Corp now owns 5,841,163 shares of the industrial products company’s stock worth $75,643,000 after purchasing an additional 54,511 shares during the last quarter. Morgan Stanley boosted its holdings in shares of O-I Glass by 34.1% during the third quarter. Morgan Stanley now owns 3,005,557 shares of the industrial products company’s stock worth $50,283,000 after purchasing an additional 764,896 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of O-I Glass by 3.8% during the first quarter. Geode Capital Management LLC now owns 2,866,204 shares of the industrial products company’s stock worth $65,092,000 after purchasing an additional 104,264 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of O-I Glass by 4.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,474,530 shares of the industrial products company’s stock worth $32,615,000 after purchasing an additional 101,672 shares during the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Stock Performance

Shares of O-I Glass stock opened at $15.42 on Friday. The business’s fifty day moving average price is $16.18 and its 200 day moving average price is $15.66. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 2.69. O-I Glass, Inc. has a twelve month low of $13.56 and a twelve month high of $23.57.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.03 by $0.09. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company posted $0.38 earnings per share. The firm’s revenue was down 3.1% compared to the same quarter last year. As a group, equities analysts expect that O-I Glass, Inc. will post 2.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Truist Financial restated a “buy” rating and set a $20.00 price objective on shares of O-I Glass in a report on Monday, March 25th. UBS Group initiated coverage on O-I Glass in a report on Tuesday, January 16th. They set a “buy” rating and a $26.00 price objective on the stock. StockNews.com cut O-I Glass from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Citigroup cut O-I Glass from a “buy” rating to a “neutral” rating and lifted their target price for the company from $17.00 to $18.00 in a report on Wednesday, January 3rd. Finally, Barclays lifted their target price on O-I Glass from $16.00 to $18.00 and gave the company an “equal weight” rating in a report on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, O-I Glass has a consensus rating of “Moderate Buy” and an average price target of $24.00.

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.