O-I Glass, Inc. (NYSE:OI) Stock Position Raised by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 1,956.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,627 shares of the industrial products company's stock after buying an additional 28,186 shares during the quarter. GAMMA Investing LLC's holdings in O-I Glass were worth $340,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in OI. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of O-I Glass by 2.2% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 42,900 shares of the industrial products company's stock valued at $465,000 after purchasing an additional 916 shares during the last quarter. Baird Financial Group Inc. grew its holdings in shares of O-I Glass by 9.6% during the fourth quarter. Baird Financial Group Inc. now owns 16,152 shares of the industrial products company's stock valued at $175,000 after purchasing an additional 1,410 shares during the last quarter. Corient Private Wealth LLC grew its stake in O-I Glass by 13.4% during the 4th quarter. Corient Private Wealth LLC now owns 16,544 shares of the industrial products company's stock worth $179,000 after buying an additional 1,954 shares during the last quarter. Guggenheim Capital LLC grew its stake in O-I Glass by 9.9% during the 4th quarter. Guggenheim Capital LLC now owns 22,777 shares of the industrial products company's stock worth $247,000 after buying an additional 2,044 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in O-I Glass by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,096 shares of the industrial products company's stock worth $955,000 after buying an additional 3,016 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on OI shares. Citigroup upped their price target on shares of O-I Glass from $11.00 to $14.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Wall Street Zen cut shares of O-I Glass from a "buy" rating to a "hold" rating in a research report on Saturday. Royal Bank Of Canada restated an "outperform" rating and issued a $16.00 target price on shares of O-I Glass in a research report on Monday, March 17th. Barclays increased their price objective on 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 reissued a "buy" rating and issued a $16.00 price target (up previously from $13.00) on shares of O-I Glass in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $15.88.

O-I Glass Price Performance

NYSE OI traded up $0.52 on Friday, reaching $14.03. 3,806,955 shares of the stock traded hands, compared to its average volume of 1,528,329. The firm's fifty day simple moving average is $12.89 and its 200 day simple moving average is $11.76. The company has a quick ratio of 0.73, a current ratio of 1.24 and a debt-to-equity ratio of 3.83. The company has a market cap of $2.17 billion, a price-to-earnings ratio of -11.13, a P/E/G ratio of 0.29 and a beta of 0.96. O-I Glass, Inc. has a 12 month low of $9.23 and a 12 month high of $14.34.

O-I Glass (NYSE:OI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $1.55 billion. During the same quarter last year, the business posted $0.45 earnings per share. The company's quarterly revenue was up .4% on a year-over-year basis. As a group, research analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

About O-I Glass

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.