Wolf Hill Capital Management LP Decreases Stock Holdings in O-I Glass, Inc. (NYSE:OI)

Wolf Hill Capital Management LP reduced its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 58.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 247,862 shares of the industrial products company's stock after selling 343,724 shares during the quarter. Wolf Hill Capital Management LP owned approximately 0.16% of O-I Glass worth $2,687,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of O-I Glass by 18.0% during the third quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company's stock worth $8,130,000 after buying an additional 94,671 shares in the last quarter. Sei Investments Co. grew its position in shares of O-I Glass by 112.8% during the fourth quarter. Sei Investments Co. now owns 93,174 shares of the industrial products company's stock worth $1,010,000 after buying an additional 49,383 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of O-I Glass by 57.1% during the fourth quarter. Victory Capital Management Inc. now owns 139,302 shares of the industrial products company's stock worth $1,510,000 after buying an additional 50,641 shares in the last quarter. Barclays PLC lifted its stake in O-I Glass by 349.3% during the third quarter. Barclays PLC now owns 261,161 shares of the industrial products company's stock worth $3,427,000 after purchasing an additional 203,037 shares during the last quarter. Finally, Amundi boosted its holdings in O-I Glass by 212.9% in the fourth quarter. Amundi now owns 95,302 shares of the industrial products company's stock valued at $996,000 after purchasing an additional 64,844 shares in the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Truist Financial reduced their price objective on shares of O-I Glass from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Bank of America lifted their price target on shares of O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Wells Fargo & Company cut their price target on shares of O-I Glass from $18.00 to $16.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. Citigroup cut their price target on shares of O-I Glass from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $16.00 price objective on shares of O-I Glass in a research note on Monday, March 17th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, O-I Glass presently has a consensus rating of "Moderate Buy" and an average target price of $15.00.

O-I Glass Stock Performance

Shares of NYSE:OI remained flat at $11.93 during midday trading on Friday. 1,412,030 shares of the stock traded hands, compared to its average volume of 1,610,872. The stock has a market cap of $1.85 billion, a P/E ratio of -16.80, a PEG ratio of 0.24 and a beta of 0.98. The company's 50-day moving average price is $11.30 and its 200 day moving average price is $11.54. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. O-I Glass, Inc. has a 1-year low of $9.23 and a 1-year high of $15.72.

O-I Glass (NYSE:OI - Get Free Report) last issued its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. As a group, equities analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current year.

O-I Glass 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.