XTX Topco Ltd Invests $554,000 in O-I Glass, Inc. (NYSE:OI)

XTX Topco Ltd acquired a new stake in O-I Glass, Inc. (NYSE:OI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 48,330 shares of the industrial products company's stock, valued at approximately $554,000.

A number of other institutional investors have also modified their holdings of OI. JPMorgan Chase & Co. boosted its position in shares of O-I Glass by 34.5% in the fourth quarter. JPMorgan Chase & Co. now owns 833,620 shares of the industrial products company's stock worth $9,036,000 after buying an additional 213,977 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in O-I Glass by 253.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 197,220 shares of the industrial products company's stock worth $2,138,000 after acquiring an additional 141,474 shares during the period. Franklin Resources Inc. boosted its holdings in O-I Glass by 20.2% in the 4th quarter. Franklin Resources Inc. now owns 35,782 shares of the industrial products company's stock worth $388,000 after acquiring an additional 6,023 shares during the period. Wells Fargo & Company MN raised its stake in shares of O-I Glass by 21.5% during the fourth quarter. Wells Fargo & Company MN now owns 175,923 shares of the industrial products company's stock valued at $1,907,000 after purchasing an additional 31,158 shares during the period. Finally, FMR LLC lifted its position in shares of 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 worth $108,990,000 after purchasing an additional 647,237 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OI. Truist Financial set a $21.00 price target on shares of O-I Glass and gave the company a "buy" rating in a report on Friday, July 11th. UBS Group restated a "buy" rating and set a $19.00 target price (up from $17.00) on shares of O-I Glass in a research note on Wednesday, July 9th. Bank of America reiterated a "neutral" rating and issued a $17.00 price target (up previously from $15.00) on shares of O-I Glass in a research note on Wednesday, July 9th. Barclays increased their price target on O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Finally, Citigroup lifted their price objective on O-I Glass from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $17.00.

Insider Buying and Selling

In related news, CEO Gordon Hardie bought 8,000 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were purchased at an average cost of $13.10 per share, with a total value of $104,800.00. Following the completion of the transaction, the chief executive officer directly owned 515,817 shares of the company's stock, valued at approximately $6,757,202.70. This represents a 1.58% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Darrow A. Abrahams purchased 3,828 shares of O-I Glass stock in a transaction dated Tuesday, August 5th. The shares were purchased at an average cost of $13.05 per share, with a total value of $49,955.40. Following the acquisition, the senior vice president owned 184,447 shares of the company's stock, valued at approximately $2,407,033.35. This trade represents a 2.12% increase in their position. The disclosure for this purchase can be found here. 0.93% of the stock is currently owned by corporate insiders.

O-I Glass Stock Performance

Shares of NYSE OI traded up $0.37 during trading on Thursday, reaching $13.35. The stock had a trading volume of 1,218,416 shares, compared to its average volume of 1,941,892. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.77 and a current ratio of 1.24. The stock has a market cap of $2.06 billion, a PE ratio of -8.09, a P/E/G ratio of 0.25 and a beta of 0.92. O-I Glass, Inc. has a one year low of $9.23 and a one year high of $16.04. The firm's 50 day moving average price is $14.23 and its two-hundred day moving average price is $12.66.

O-I Glass (NYSE:OI - Get Free Report) last released its earnings results on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.12. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. On average, research analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share 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.