GAMMA Investing LLC grew its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 1,956.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,627 shares of the industrial products company's stock after acquiring an additional 28,186 shares during the period. GAMMA Investing LLC's holdings in O-I Glass were worth $340,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Sterling Capital Management LLC grew its stake in shares of O-I Glass by 807.2% during the fourth quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 4,343 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in O-I Glass in the 4th quarter valued at $86,000. Point72 Asset Management L.P. acquired a new stake in shares of O-I Glass in the 4th quarter valued at $89,000. Point72 Hong Kong Ltd bought a new stake in shares of O-I Glass during the fourth quarter worth $106,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of O-I Glass during the fourth quarter valued at $107,000. 97.24% of the stock is owned by institutional investors and hedge funds.
O-I Glass Trading Up 2.2%
OI traded up $0.32 during mid-day trading on Tuesday, hitting $14.71. The stock had a trading volume of 3,006,006 shares, compared to its average volume of 1,545,984. The stock's fifty day simple moving average is $12.96 and its 200-day simple moving average is $11.78. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -11.67, a price-to-earnings-growth ratio of 0.29 and a beta of 0.96. O-I Glass, Inc. has a 1-year low of $9.23 and a 1-year high of $14.82. The company has a debt-to-equity ratio of 3.83, a current ratio of 1.24 and a quick ratio of 0.73.
O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the business posted $0.45 EPS. The firm's revenue was up .4% compared to the same quarter last year. As a group, research analysts forecast that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the company. Barclays lifted their price objective on O-I Glass from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $16.00 price target on shares of O-I Glass in a research report on Monday, March 17th. Truist Financial reissued a "buy" rating and set a $16.00 price target (up from $13.00) on shares of O-I Glass in a research note on Thursday, May 1st. Citigroup raised their price objective on shares of O-I Glass from $11.00 to $14.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, Wall Street Zen cut shares of O-I Glass from a "buy" rating to a "hold" rating in a research report on Saturday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, O-I Glass presently has a consensus rating of "Moderate Buy" and an average target price of $15.88.
View Our Latest Stock Analysis on O-I Glass
O-I Glass Company Profile
(
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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