Range Financial Group LLC Takes Position in O-I Glass, Inc. (NYSE:OI)

Range Financial Group LLC acquired a new stake in O-I Glass, Inc. (NYSE:OI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,869 shares of the industrial products company’s stock, valued at approximately $165,000.

Other large investors also recently modified their holdings of the company. Fidelis Capital Partners LLC bought a new position in shares of O-I Glass in the first quarter valued at about $33,000. TFO Wealth Partners LLC raised its stake in O-I Glass by 24,311.1% in the 4th quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 2,188 shares in the last quarter. FinTrust Capital Advisors LLC acquired a new stake in O-I Glass in the 1st quarter worth about $38,000. Headlands Technologies LLC acquired a new stake in O-I Glass in the 1st quarter worth about $39,000. Finally, Bessemer Group Inc. raised its stake in O-I Glass by 40.2% in the 1st quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 1,318 shares in the last quarter. 97.24% of the stock is owned by institutional investors.

Insider Activity at O-I Glass

In related news, Director John Humphrey purchased 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average cost of $11.30 per share, with a total value of $169,500.00. Following the acquisition, the director now owns 84,227 shares of the company’s stock, valued at approximately $951,765.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.49% of the stock is currently owned by insiders.

O-I Glass Trading Down 1.0 %

Shares of O-I Glass stock opened at $12.33 on Friday. The firm has a market capitalization of $1.92 billion, a PE ratio of -7.75, a price-to-earnings-growth ratio of 1.83 and a beta of 1.17. 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’s 50 day moving average is $11.69 and its 200 day moving average is $13.45. O-I Glass, Inc. has a 1 year low of $10.08 and a 1 year high of $19.89.

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. Equities research analysts forecast that O-I Glass, Inc. will post 1.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. UBS Group dropped their price objective on shares of O-I Glass from $26.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Citigroup dropped their price objective on shares of O-I Glass from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, July 8th. Robert W. Baird dropped their price objective on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Truist Financial reiterated a “buy” rating and issued a $16.00 price objective (down previously from $17.00) on shares of O-I Glass in a research note on Thursday, August 1st. Finally, Barclays dropped their price objective on shares of 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. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.89.

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.