Squarepoint Ops LLC Has $415,000 Stock Holdings in O-I Glass, Inc. (NYSE:OI)

Squarepoint Ops LLC cut its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 70.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,282 shares of the industrial products company's stock after selling 90,251 shares during the quarter. Squarepoint Ops LLC's holdings in O-I Glass were worth $415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in OI. Sei Investments Co. grew its holdings in shares of O-I Glass by 112.8% during the 4th quarter. Sei Investments Co. now owns 93,174 shares of the industrial products company's stock valued at $1,010,000 after purchasing an additional 49,383 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of O-I Glass by 57.1% in the 4th quarter. Victory Capital Management Inc. now owns 139,302 shares of the industrial products company's stock worth $1,510,000 after purchasing an additional 50,641 shares during the period. Barclays PLC lifted its position in shares of O-I Glass by 349.3% in the 3rd quarter. Barclays PLC now owns 261,161 shares of the industrial products company's stock worth $3,427,000 after purchasing an additional 203,037 shares during the period. Northern Trust Corp lifted its position in shares of O-I Glass by 8.5% in the 4th quarter. Northern Trust Corp now owns 1,738,277 shares of the industrial products company's stock worth $18,843,000 after purchasing an additional 135,989 shares during the period. Finally, Amundi lifted its position in shares of O-I Glass by 212.9% in the 4th quarter. Amundi now owns 95,302 shares of the industrial products company's stock worth $996,000 after purchasing an additional 64,844 shares during the period. 97.24% of the stock is currently owned by institutional investors and hedge funds.

O-I Glass Stock Up 2.7%

Shares of O-I Glass stock traded up $0.36 during trading on Friday, reaching $13.61. 1,066,773 shares of the company traded hands, compared to its average volume of 1,549,520. The company has a debt-to-equity ratio of 3.78, a current ratio of 1.15 and a quick ratio of 0.70. O-I Glass, Inc. has a 1-year low of $9.23 and a 1-year high of $14.34. The company has a 50 day moving average price of $12.25 and a 200-day moving average price of $11.69. The firm has a market capitalization of $2.11 billion, a PE ratio of -19.17, a P/E/G ratio of 0.24 and a beta of 0.93.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings data 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. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. The firm 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 company posted $0.45 earnings per share. The business's revenue was up .4% on a year-over-year basis. As a group, equities research analysts expect that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OI. Wall Street Zen upgraded shares of O-I Glass from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Barclays boosted 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 research report on Friday, May 2nd. Truist Financial restated a "buy" rating and issued a $16.00 price target (up previously 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 set a $16.00 target price on shares of O-I Glass in a research report on Monday, March 17th. Finally, Citigroup boosted their target price on shares of O-I Glass from $11.00 to $14.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $15.88.

O-I Glass Company 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.