Luminus Management LLC lessened its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 46.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,670,634 shares of the industrial products company's stock after selling 1,447,419 shares during the period. O-I Glass accounts for approximately 20.9% of Luminus Management LLC's holdings, making the stock its 2nd biggest position. Luminus Management LLC owned 1.08% of O-I Glass worth $18,110,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Lighthouse Investment Partners LLC raised its position in shares of O-I Glass by 3.2% in the 4th quarter. Lighthouse Investment Partners LLC now owns 161,548 shares of the industrial products company's stock worth $1,751,000 after purchasing an additional 5,083 shares during the last quarter. Crestline Management LP bought a new stake in shares of O-I Glass during the fourth quarter valued at approximately $492,000. Cubist Systematic Strategies LLC purchased a new position in shares of O-I Glass in the fourth quarter worth $107,000. Baird Financial Group Inc. boosted its holdings 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 during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in O-I Glass during the fourth quarter valued at $1,199,000. Hedge funds and other institutional investors own 97.24% of the company's stock.
O-I Glass Trading Down 0.8%
NYSE OI traded down $0.11 during trading on Thursday, hitting $13.63. The stock had a trading volume of 1,626,657 shares, compared to its average volume of 1,574,692. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. The stock has a 50 day simple moving average of $11.74 and a 200 day simple moving average of $11.59. O-I Glass, Inc. has a one year low of $9.23 and a one year high of $14.34. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -19.20, 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 earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.22. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.55 billion. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. The business's revenue was up .4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 earnings per share. Sell-side analysts predict that O-I Glass, Inc. will post 1.33 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. Barclays increased 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. Royal Bank of Canada reiterated an "outperform" rating and set a $16.00 price objective on shares of O-I Glass in a research report on Monday, March 17th. Citigroup increased their price target 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. Finally, Truist Financial restated a "buy" rating and issued a $16.00 target price (up from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $15.88.
Read Our Latest Stock Report on O-I Glass
About O-I Glass
(
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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