Cerity Partners LLC Takes $419,000 Position in O-I Glass, Inc. (NYSE:OI)

Cerity Partners LLC bought a new stake in O-I Glass, Inc. (NYSE:OI - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 36,493 shares of the industrial products company's stock, valued at approximately $419,000.

A number of other institutional investors and hedge funds have also made changes to their positions in OI. Cooper Creek Partners Management LLC raised its holdings in shares of O-I Glass by 18.2% in 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 buying an additional 1,705,216 shares during the last quarter. Millennium Management LLC raised its holdings in shares of O-I Glass by 251.7% in the fourth quarter. Millennium Management LLC now owns 1,458,102 shares of the industrial products company's stock valued at $15,806,000 after buying an additional 1,043,570 shares during the last quarter. Mesirow Institutional Investment Management Inc. purchased a new position in O-I Glass during the fourth quarter worth about $10,885,000. Boothbay Fund Management LLC raised its holdings in O-I Glass by 213.3% during the fourth quarter. Boothbay Fund Management LLC now owns 1,218,593 shares of the industrial products company's stock worth $13,210,000 after purchasing an additional 829,662 shares in the last quarter. Finally, FMR LLC raised its holdings in O-I Glass by 6.9% during the fourth quarter. FMR LLC now owns 10,054,398 shares of the industrial products company's stock worth $108,990,000 after purchasing an additional 647,237 shares in the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. BNP Paribas Exane assumed coverage on shares of O-I Glass in a report on Wednesday, June 25th. They set an "outperform" rating and a $18.00 price target for the company. Bank of America reissued a "neutral" rating and set a $17.00 price target (up from $15.00) on shares of O-I Glass in a report on Wednesday, July 9th. BNP Paribas set a $18.00 price target on shares of O-I Glass in a report on Wednesday, June 25th. Barclays increased their price target on shares of O-I Glass from $13.00 to $14.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Finally, Truist Financial set a $21.00 price target on shares of O-I Glass and gave the stock a "buy" rating in a report on Friday, July 11th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $17.20.

O-I Glass Trading Down 0.8%

Shares of OI opened at $14.55 on Friday. 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 firm's 50-day moving average is $14.23 and its two-hundred day moving average is $12.49. O-I Glass, Inc. has a twelve month low of $9.23 and a twelve month high of $16.04. The firm has a market capitalization of $2.25 billion, a P/E ratio of -11.54, a PEG ratio of 0.30 and a beta of 0.97.

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

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.

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