Huber Capital Management LLC Has $9.57 Million Position in O-I Glass, Inc. $OI

Huber Capital Management LLC grew its holdings in shares of O-I Glass, Inc. (NYSE:OI) by 53.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 737,527 shares of the industrial products company’s stock after buying an additional 257,962 shares during the quarter. O-I Glass accounts for about 1.5% of Huber Capital Management LLC’s holdings, making the stock its 23rd biggest position. Huber Capital Management LLC’s holdings in O-I Glass were worth $9,566,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Headlands Technologies LLC purchased a new position in O-I Glass during the 2nd quarter worth $29,000. State of Wyoming purchased a new stake in O-I Glass in the second quarter worth $35,000. Smartleaf Asset Management LLC lifted its position in shares of O-I Glass by 64.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock valued at $35,000 after buying an additional 918 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of O-I Glass during the 2nd quarter worth $51,000. Finally, Johnson Financial Group Inc. bought a new stake in O-I Glass in the 3rd quarter valued at about $85,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on OI. Robert W. Baird set a $20.00 price objective on shares of O-I Glass in a research note on Thursday, February 12th. Wells Fargo & Company raised O-I Glass from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $15.00 to $18.00 in a report on Tuesday, January 6th. UBS Group restated a “buy” rating and issued a $21.00 price objective on shares of O-I Glass in a report on Thursday, February 12th. Citigroup reduced their target price on shares of O-I Glass from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. Finally, Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $14.00 to $17.00 in a research note on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.11.

O-I Glass Stock Down 1.3%

OI traded down $0.15 during trading on Friday, reaching $10.84. The stock had a trading volume of 59,835 shares, compared to its average volume of 2,031,633. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 3.35. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -12.94, a P/E/G ratio of 0.53 and a beta of 0.82. The stock’s 50 day moving average is $14.68 and its two-hundred day moving average is $13.70. O-I Glass, Inc. has a one year low of $9.23 and a one year high of $16.91.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.52 billion. O-I Glass had a negative net margin of 2.01% and a positive return on equity of 18.07%. The company’s revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) EPS. As a group, analysts expect that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

O-I Glass Profile

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.