Squarepoint Ops LLC Sells 90,251 Shares of O-I Glass, Inc. (NYSE:OI)

Squarepoint Ops LLC lowered its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 70.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,282 shares of the industrial products company's stock after selling 90,251 shares during the period. Squarepoint Ops LLC's holdings in O-I Glass were worth $415,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OI. Sterling Capital Management LLC increased its holdings 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 acquiring an additional 4,343 shares in the last quarter. KBC Group NV grew its position in O-I Glass by 42.5% during the 4th quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock valued at $84,000 after purchasing an additional 2,309 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in O-I Glass during the 4th quarter valued at about $86,000. Point72 Asset Management L.P. bought a new stake in O-I Glass during the 4th quarter valued at about $89,000. Finally, Point72 Hong Kong Ltd purchased a new position in O-I Glass in the fourth quarter worth about $106,000. Institutional investors own 97.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on OI. Barclays increased their price target on shares of O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Citigroup increased their target price on O-I Glass from $11.00 to $14.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Royal Bank of Canada reissued an "outperform" rating and issued a $16.00 target price on shares of O-I Glass in a report on Monday, March 17th. Wall Street Zen upgraded O-I Glass from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Finally, Truist Financial reaffirmed a "buy" rating and set a $16.00 price objective (up from $13.00) on shares of O-I Glass in a research report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $15.88.

O-I Glass Stock Performance

O-I Glass stock traded down $0.03 during mid-day trading on Monday, reaching $13.59. 941,121 shares of the stock traded hands, compared to its average volume of 1,549,189. O-I Glass, Inc. has a 12-month low of $9.23 and a 12-month high of $14.34. The business's 50-day moving average is $12.25 and its 200-day moving average is $11.68. The company has a debt-to-equity ratio of 3.78, a current ratio of 1.15 and a quick ratio of 0.70. The stock has a market capitalization of $2.10 billion, a PE ratio of -19.15, a price-to-earnings-growth ratio of 0.24 and a beta of 0.96.

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 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.22. The firm had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.55 billion. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. The business's quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 EPS. As a group, sell-side 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.