SG Americas Securities LLC Grows Position in O-I Glass, Inc. (NYSE:OI)

SG Americas Securities LLC boosted its position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 117.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,766 shares of the industrial products company's stock after acquiring an additional 24,743 shares during the quarter. SG Americas Securities LLC's holdings in O-I Glass were worth $525,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cooper Creek Partners Management LLC boosted 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 worth $120,132,000 after buying an additional 1,705,216 shares during the last quarter. FMR LLC raised its holdings in O-I Glass by 6.9% in the 4th 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 during the period. Dimensional Fund Advisors LP raised its holdings in O-I Glass by 9.0% in 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. Highland Peak Capital LLC lifted its position in O-I Glass by 87.5% during the fourth quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company's stock valued at $42,029,000 after purchasing an additional 1,809,237 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its holdings in O-I Glass by 31.5% during the fourth quarter. Segall Bryant & Hamill LLC now owns 3,242,750 shares of the industrial products company's stock valued at $35,151,000 after purchasing an additional 777,036 shares during the period. 97.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Truist Financial reiterated a "buy" rating and issued a $16.00 price target (up from $13.00) on shares of O-I Glass in a research report on Thursday, May 1st. Royal Bank Of Canada reiterated an "outperform" rating and issued a $16.00 price target on shares of O-I Glass in a research note on Monday, March 17th. Wall Street Zen cut O-I Glass from a "buy" rating to a "hold" rating in a report on Saturday. Citigroup upped their price objective on O-I Glass from $11.00 to $14.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Finally, Barclays lifted their target price on 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. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.88.

O-I Glass Price Performance

NYSE OI traded up $0.34 during trading on Monday, hitting $14.36. 4,480,791 shares of the stock traded hands, compared to its average volume of 1,540,140. The company has a market capitalization of $2.22 billion, a P/E ratio of -11.40, a price-to-earnings-growth 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 $14.81. The firm has a 50-day simple moving average of $12.89 and a 200-day simple moving average of $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.

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