Advisors Preferred LLC Acquires New Stake in O-I Glass, Inc. (NYSE:OI)

Advisors Preferred LLC purchased a new position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 238,394 shares of the industrial products company's stock, valued at approximately $2,775,000. Advisors Preferred LLC owned approximately 0.15% of O-I Glass as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cooper Creek Partners Management LLC increased its position in shares of O-I Glass by 18.2% during the fourth quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company's stock valued at $120,132,000 after acquiring an additional 1,705,216 shares during the last quarter. FMR LLC raised its position in O-I Glass by 6.9% during the 4th quarter. FMR LLC now owns 10,054,398 shares of the industrial products company's stock worth $108,990,000 after buying an additional 647,237 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of O-I Glass by 9.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,449,472 shares of the industrial products company's stock worth $80,749,000 after purchasing an additional 617,460 shares during the period. Segall Bryant & Hamill LLC boosted its stake in shares of O-I Glass by 31.5% during the 4th quarter. Segall Bryant & Hamill LLC now owns 3,242,750 shares of the industrial products company's stock worth $35,151,000 after purchasing an additional 777,036 shares during the last quarter. Finally, IPG Investment Advisors LLC lifted its holdings in shares of O-I Glass by 33.5% during the 4th quarter. IPG Investment Advisors LLC now owns 1,840,668 shares of the industrial products company's stock worth $19,953,000 after acquiring an additional 462,040 shares during the period. 97.24% of the stock is owned by hedge funds and other institutional investors.

O-I Glass Trading Down 0.8%

O-I Glass stock traded down $0.12 during mid-day trading on Friday, hitting $14.55. The stock had a trading volume of 1,671,254 shares, compared to its average volume of 1,466,084. O-I Glass, Inc. has a 12 month low of $9.23 and a 12 month high of $16.04. The stock has a 50-day simple moving average of $14.23 and a two-hundred day simple moving average of $12.48. The company has a current ratio of 1.24, a quick ratio of 0.73 and a debt-to-equity ratio of 3.83. The stock has a market capitalization of $2.25 billion, a PE ratio of -11.54, a P/E/G ratio of 0.30 and a beta of 0.97.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.22. O-I Glass had a positive return on equity of 8.48% and a negative net margin of 2.98%. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the company earned $0.45 earnings per share. The business's revenue was up .4% compared to the same quarter last year. As a group, sell-side analysts forecast that O-I Glass, Inc. will post 1.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on OI shares. Citigroup raised their price target on shares of O-I Glass from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Truist Financial set a $21.00 price target on O-I Glass and gave the company a "buy" rating in a research note on Friday, July 11th. Wells Fargo & Company cut O-I Glass from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $16.00 to $15.00 in a research note on Friday, July 18th. Bank of America reaffirmed a "neutral" rating and set a $17.00 target price (up previously from $15.00) on shares of O-I Glass in a research report on Wednesday, July 9th. Finally, Wall Street Zen upgraded O-I Glass from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, O-I Glass presently has an average rating of "Moderate Buy" and an average price target of $17.20.

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.