Levin Capital Strategies L.P. Purchases 600,239 Shares of O-I Glass, Inc. (NYSE:OI)

Levin Capital Strategies L.P. raised its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 55.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,691,765 shares of the industrial products company's stock after acquiring an additional 600,239 shares during the quarter. O-I Glass makes up about 3.0% of Levin Capital Strategies L.P.'s investment portfolio, making the stock its 7th largest holding. Levin Capital Strategies L.P. owned 1.09% of O-I Glass worth $27,711,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Cooper Creek Partners Management LLC boosted its position in O-I Glass by 39.6% during the 3rd quarter. Cooper Creek Partners Management LLC now owns 2,200,187 shares of the industrial products company's stock worth $36,809,000 after buying an additional 623,705 shares during the period. Luminus Management LLC boosted its position in O-I Glass by 69.4% during the 3rd quarter. Luminus Management LLC now owns 2,140,678 shares of the industrial products company's stock worth $35,814,000 after buying an additional 877,172 shares during the period. Private Management Group Inc. boosted its position in O-I Glass by 0.7% during the 4th quarter. Private Management Group Inc. now owns 2,051,886 shares of the industrial products company's stock worth $33,610,000 after buying an additional 14,018 shares during the period. Assenagon Asset Management S.A. boosted its position in O-I Glass by 132.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,002,867 shares of the industrial products company's stock worth $32,807,000 after buying an additional 1,141,680 shares during the period. Finally, American Century Companies Inc. boosted its position in O-I Glass by 7.8% during the 3rd quarter. American Century Companies Inc. now owns 1,672,400 shares of the industrial products company's stock worth $27,979,000 after buying an additional 121,495 shares during the period. Institutional investors and hedge funds own 97.24% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on OI shares. Royal Bank of Canada cut their target price on shares of O-I Glass from $25.00 to $21.00 and set an "outperform" rating on the stock in a research report on Thursday. Robert W. Baird dropped their price target on shares of O-I Glass from $28.00 to $22.00 and set an "outperform" rating on the stock in a research report on Thursday. Bank of America restated a "neutral" rating and issued a $16.00 price target (down previously from $21.00) on shares of O-I Glass in a research report on Friday, April 19th. Truist Financial restated a "buy" rating and issued a $17.00 price target (down previously from $20.00) on shares of O-I Glass in a research report on Thursday. Finally, Citigroup downgraded shares of O-I Glass from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $17.00 to $18.00 in a research report on Wednesday, January 3rd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.89.

O-I Glass Stock Up 4.1 %

Shares of O-I Glass stock traded up $0.51 during trading on Thursday, reaching $13.09. 2,915,136 shares of the company traded hands, compared to its average volume of 1,762,627. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.23 and a quick ratio of 0.77. O-I Glass, Inc. has a 1-year low of $12.40 and a 1-year high of $23.57. The company has a 50 day moving average price of $15.79 and a 200-day moving average price of $15.56. The firm has a market capitalization of $2.04 billion, a PE ratio of -8.23, a P/E/G ratio of 1.04 and a beta of 1.36.

O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.09. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.69 billion. O-I Glass had a negative net margin of 3.45% and a positive return on equity of 17.85%. O-I Glass's quarterly revenue was down 13.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.29 EPS. As a group, equities research analysts expect that O-I Glass, Inc. will post 2.33 earnings per share 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.