Highland Peak Capital LLC cut its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 10.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,483,187 shares of the industrial products company's stock after selling 394,072 shares during the period. O-I Glass comprises about 29.4% of Highland Peak Capital LLC's investment portfolio, making the stock its biggest holding. Highland Peak Capital LLC owned approximately 2.25% of O-I Glass worth $39,952,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of OI. GAMMA Investing LLC grew its stake in O-I Glass by 79.3% in the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock worth $30,000 after purchasing an additional 1,142 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in O-I Glass by 1.6% in the first quarter. SummerHaven Investment Management LLC now owns 75,226 shares of the industrial products company's stock worth $863,000 after purchasing an additional 1,204 shares in the last quarter. Baird Financial Group Inc. grew its stake in O-I Glass by 9.6% in the fourth quarter. Baird Financial Group Inc. now owns 16,152 shares of the industrial products company's stock worth $175,000 after purchasing an additional 1,410 shares in the last quarter. Guggenheim Capital LLC grew its stake in O-I Glass by 9.9% in the fourth quarter. Guggenheim Capital LLC now owns 22,777 shares of the industrial products company's stock worth $247,000 after purchasing an additional 2,044 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in O-I Glass by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 52,337 shares of the industrial products company's stock worth $600,000 after purchasing an additional 2,104 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have commented on OI shares. BNP Paribas Exane started coverage on O-I Glass in a research note on Wednesday, June 25th. They issued an "outperform" rating and a $18.00 target price for the company. Truist Financial set a $21.00 target price on O-I Glass and gave the company a "buy" rating in a research note on Friday, July 11th. BNP Paribas set a $18.00 target price on O-I Glass in a research note on Wednesday, June 25th. Wall Street Zen upgraded O-I Glass from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Finally, Citigroup lifted their target price on O-I Glass from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.
View Our Latest Research Report on O-I Glass
O-I Glass Price Performance
Shares of NYSE:OI opened at $13.00 on Wednesday. O-I Glass, Inc. has a 12 month low of $9.23 and a 12 month high of $16.04. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of -7.88, a PEG ratio of 0.25 and a beta of 0.92. The stock's 50 day moving average price is $14.23 and its 200 day moving average price is $12.63. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.24 and a quick ratio of 0.77.
O-I Glass (NYSE:OI - Get Free Report) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.41 by $0.12. O-I Glass had a positive return on equity of 13.70% and a negative net margin of 3.95%. The firm had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.70 billion. During the same quarter in the previous year, the company earned $0.44 earnings per share. The firm's quarterly revenue was down 1.3% compared to the same quarter last year. Equities research analysts anticipate that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.
O-I Glass 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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