214,350 Shares in O-I Glass, Inc. (NYSE:OI) Bought by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC bought a new stake in O-I Glass, Inc. (NYSE:OI) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 214,350 shares of the industrial products company’s stock, valued at approximately $2,324,000.

Other institutional investors also recently made changes to their positions in the company. Cooper Creek Partners Management LLC grew its holdings in shares of O-I Glass by 18.2% in the 4th quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company’s stock worth $120,132,000 after acquiring an additional 1,705,216 shares during the period. FMR LLC grew its holdings in O-I Glass by 6.9% in 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 grew its holdings in O-I Glass by 9.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,449,472 shares of the industrial products company’s stock valued at $80,749,000 after purchasing an additional 617,460 shares during the last quarter. Highland Peak Capital LLC increased its position in shares of 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 valued at $42,029,000 after buying an additional 1,809,237 shares in the last quarter. Finally, Segall Bryant & Hamill LLC boosted its position in shares of O-I Glass by 31.5% in the 4th 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 in the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OI. Wells Fargo & Company dropped their target price on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Bank of America upped their target price on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $16.00 price target on shares of O-I Glass in a report on Monday, March 17th. Truist Financial dropped their price objective on 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. Finally, Citigroup reduced their target price on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.00.

O-I Glass Stock Up 1.4 %

Shares of OI opened at $12.14 on Wednesday. O-I Glass, Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $15.62. The company’s fifty day moving average is $11.32 and its two-hundred day moving average is $11.54. The firm has a market cap of $1.88 billion, a PE ratio of -17.10, a price-to-earnings-growth ratio of 0.24 and a beta of 0.98. 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 (NYSE:OI) last issued its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.22. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 earnings per share. Analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share 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.