Two Sigma Investments LP Acquires 218,381 Shares of O-I Glass, Inc. (NYSE:OI)

Two Sigma Investments LP lifted its position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 44.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 710,216 shares of the industrial products company's stock after acquiring an additional 218,381 shares during the period. Two Sigma Investments LP owned 0.46% of O-I Glass worth $7,699,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OI. Cooper Creek Partners Management LLC boosted its position in shares of O-I Glass by 18.2% during the 4th quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company's stock valued at $120,132,000 after purchasing an additional 1,705,216 shares in the last quarter. FMR LLC lifted its stake in O-I Glass by 6.9% during the fourth quarter. FMR LLC now owns 10,054,398 shares of the industrial products company's stock valued at $108,990,000 after purchasing an additional 647,237 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in O-I Glass by 9.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,449,472 shares of the industrial products company's stock worth $80,749,000 after buying an additional 617,460 shares in the last quarter. Highland Peak Capital LLC grew its position in O-I Glass by 87.5% in the fourth quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company's stock worth $42,029,000 after buying an additional 1,809,237 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in O-I Glass by 31.5% in the fourth quarter. Segall Bryant & Hamill LLC now owns 3,242,750 shares of the industrial products company's stock worth $35,151,000 after buying an additional 777,036 shares during the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on OI shares. Wall Street Zen upgraded O-I Glass from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Royal Bank of Canada reissued 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 boosted 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. Truist Financial reiterated 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. Finally, Citigroup increased their target price on O-I Glass from $11.00 to $14.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $15.88.

O-I Glass Stock Down 0.6%

NYSE:OI traded down $0.09 on Friday, hitting $13.09. 167,903 shares of the company's stock were exchanged, compared to its average volume of 1,545,156. O-I Glass, Inc. has a 52 week low of $9.23 and a 52 week high of $14.34. The company has a market cap of $2.02 billion, a P/E ratio of -18.47, a price-to-earnings-growth ratio of 0.24 and a beta of 0.93. 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 firm has a 50-day moving average price of $12.08 and a 200-day moving average price of $11.68.

O-I Glass (NYSE:OI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.22. The company had revenue of $1.57 billion during 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%. O-I Glass's quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 EPS. As a group, analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

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.