Wellington Management Group LLP Acquires 157,472 Shares of O-I Glass, Inc. $OI

Wellington Management Group LLP raised its holdings in shares of O-I Glass, Inc. (NYSE:OI) by 8.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,131,797 shares of the industrial products company’s stock after acquiring an additional 157,472 shares during the quarter. Wellington Management Group LLP owned approximately 1.39% of O-I Glass worth $20,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Farther Finance Advisors LLC increased its stake in shares of O-I Glass by 87.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 830 shares in the last quarter. Headlands Technologies LLC bought a new position in O-I Glass in the 2nd quarter worth $29,000. Quarry LP purchased a new position in O-I Glass during the fourth quarter valued at $32,000. Caitong International Asset Management Co. Ltd lifted its position in O-I Glass by 36,533.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 2,192 shares in the last quarter. Finally, State of Wyoming bought a new stake in O-I Glass during the second quarter valued at about $35,000. Institutional investors own 97.24% of the company’s stock.

O-I Glass Trading Up 0.1%

Shares of OI stock opened at $7.15 on Monday. The company has a debt-to-equity ratio of 8.89, a quick ratio of 0.77 and a current ratio of 1.26. The stock has a fifty day simple moving average of $8.10 and a two-hundred day simple moving average of $9.52. The firm has a market capitalization of $1.10 billion, a PE ratio of -0.95, a PEG ratio of 2.54 and a beta of 0.66. O-I Glass, Inc. has a 52-week low of $6.29 and a 52-week high of $16.91.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.15). The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.68 billion. O-I Glass had a negative net margin of 18.13% and a positive return on equity of 10.40%. O-I Glass’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 earnings per share. On average, analysts predict that O-I Glass, Inc. will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on OI. Bank of America restated an “underperform” rating and issued a $11.00 price target on shares of O-I Glass in a research report on Tuesday, July 14th. UBS Group cut their price objective on O-I Glass from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Weiss Ratings raised shares of O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 14th. Citigroup upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and raised their target price for the stock from $8.00 to $9.00 in a research note on Friday, August 21st. Finally, Truist Financial lowered their price target on shares of O-I Glass from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.31.

About O-I Glass

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.