Everence Capital Management Inc. Invests $240,000 in O-I Glass, Inc. (NYSE:OI)

Everence Capital Management Inc. purchased a new position in O-I Glass, Inc. (NYSE:OI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 14,660 shares of the industrial products company’s stock, valued at approximately $240,000.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of O-I Glass by 1.5% in the third quarter. Vanguard Group Inc. now owns 19,597,610 shares of the industrial products company’s stock worth $253,789,000 after acquiring an additional 291,640 shares during the last quarter. State Street Corp boosted its stake in 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 buying an additional 54,511 shares during the last quarter. Morgan Stanley boosted its stake in 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 buying an additional 764,896 shares during the last quarter. Geode Capital Management LLC boosted its stake in 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 buying an additional 104,264 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in 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 buying an additional 101,672 shares during the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.

O-I Glass Stock Performance

OI stock opened at $15.42 on Friday. 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 12-month low of $13.56 and a 12-month high of $23.57. The business’s fifty day moving average price is $16.18 and its 200 day moving average price is $15.66.

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

Analysts Set New Price Targets

A number of research firms have weighed in on OI. Truist Financial reissued a “buy” rating and set a $20.00 price objective on shares of O-I Glass in a research note on Monday, March 25th. StockNews.com lowered O-I Glass from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. TheStreet lowered O-I Glass from a “b-” rating to a “c-” rating in a research note on Tuesday, February 6th. UBS Group assumed coverage on O-I Glass in a research report on Tuesday, January 16th. They issued a “buy” rating and a $26.00 target price on the stock. Finally, Citigroup downgraded 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 research report on Wednesday, January 3rd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

O-I Glass Company 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.