Levin Capital Strategies L.P. increased its position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,915,106 shares of the industrial products company's stock after acquiring an additional 164,669 shares during the period. O-I Glass makes up about 3.5% of Levin Capital Strategies L.P.'s holdings, making the stock its 5th biggest position. Levin Capital Strategies L.P. owned 1.88% of O-I Glass worth $33,436,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of OI. GAMMA Investing LLC grew its holdings in shares of O-I Glass by 79.3% during the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 1,142 shares during the last quarter. Sterling Capital Management LLC boosted its position in O-I Glass by 807.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock valued at $53,000 after buying an additional 4,343 shares during the period. Point72 Asset Management L.P. purchased a new stake in O-I Glass during the 4th quarter valued at $89,000. CWM LLC boosted its position in O-I Glass by 623.9% during the 1st quarter. CWM LLC now owns 8,390 shares of the industrial products company's stock valued at $96,000 after buying an additional 7,231 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in O-I Glass during the 4th quarter valued at $106,000. Institutional investors own 97.24% of the company's stock.
O-I Glass Stock Up 0.6%
NYSE:OI opened at $12.90 on Tuesday. O-I Glass, Inc. has a 1-year low of $9.23 and a 1-year high of $16.04. The company has a 50-day moving average of $14.24 and a 200 day moving average of $12.63. The firm has a market cap of $1.99 billion, a PE ratio of -7.82, a price-to-earnings-growth ratio of 0.25 and a beta of 0.92. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.24 and a quick ratio of 0.77.
O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.12. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.70 billion. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 9.88%. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 earnings per share. As a group, research analysts anticipate that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages recently issued reports on OI. Wall Street Zen raised shares of O-I Glass from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. BNP Paribas Exane began coverage on shares of O-I Glass in a research 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 research report on Wednesday, July 9th. Barclays raised their price objective on shares of O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Finally, Wells Fargo & Company reduced 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 Monday. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $17.00.
Read Our Latest Stock Analysis on O-I Glass
About O-I Glass
(
Free Report)
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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