45,412 Shares in O-I Glass, Inc. (NYSE:OI) Purchased by Crestline Management LP

Crestline Management LP bought a new stake in O-I Glass, Inc. (NYSE:OI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 45,412 shares of the industrial products company’s stock, valued at approximately $492,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. R Squared Ltd bought a new stake in O-I Glass in the 4th quarter valued at about $45,000. Sterling Capital Management LLC raised its position in shares of O-I Glass by 807.2% in the fourth quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 4,343 shares during the period. KBC Group NV lifted its stake in shares of O-I Glass by 42.5% during the 4th quarter. KBC Group NV now owns 7,740 shares of the industrial products company’s stock valued at $84,000 after buying an additional 2,309 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in O-I Glass in the 4th quarter valued at approximately $86,000. Finally, Cubist Systematic Strategies LLC bought a new stake in O-I Glass during the 4th quarter valued at $107,000. 97.24% of the stock is owned by institutional investors.

O-I Glass Price Performance

Shares of NYSE:OI opened at $13.43 on Friday. O-I Glass, Inc. has a one year low of $9.23 and a one year high of $14.15. The company has a debt-to-equity ratio of 3.78, a current ratio of 1.15 and a quick ratio of 0.70. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of -18.92, a PEG ratio of 0.24 and a beta of 0.93. The company’s fifty day moving average price is $11.62 and its 200-day moving average price is $11.55.

O-I Glass (NYSE:OI) last released its quarterly 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. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis. On average, equities research analysts anticipate that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on OI shares. Truist Financial reiterated a “buy” rating and issued a $16.00 price target (up from $13.00) on shares of O-I Glass in a research report on Thursday, May 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $16.00 target price on shares of O-I Glass in a report on Monday, March 17th. 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 report on Friday, May 2nd. Finally, Citigroup boosted their price objective on shares of O-I Glass from $11.00 to $14.00 and gave the company a “neutral” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, O-I Glass presently has a consensus rating of “Moderate Buy” and an average price target of $15.88.

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.