Hourglass Capital LLC Acquires 86,015 Shares of O-I Glass, Inc. (NYSE:OI)

Hourglass Capital LLC increased its holdings in O-I Glass, Inc. (NYSE:OI) by 105.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 167,450 shares of the industrial products company’s stock after buying an additional 86,015 shares during the period. Hourglass Capital LLC’s holdings in O-I Glass were worth $1,815,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of OI. JPMorgan Chase & Co. boosted its holdings in shares of O-I Glass by 18.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company’s stock valued at $8,130,000 after buying an additional 94,671 shares in the last quarter. Highland Peak Capital LLC purchased a new stake in O-I Glass during the third quarter valued at approximately $27,132,000. Barclays PLC lifted its position 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 valued at $3,427,000 after acquiring an additional 203,037 shares during the last quarter. Maverick Capital Ltd. acquired a new stake in O-I Glass in the third quarter valued at approximately $1,264,000. Finally, Segall Bryant & Hamill LLC purchased a new position in O-I Glass in the third quarter worth $32,350,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Trading Down 1.0 %

Shares of NYSE:OI opened at $11.58 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 3.78. O-I Glass, Inc. has a twelve month low of $9.85 and a twelve month high of $17.58. The company’s 50 day moving average is $10.97 and its 200 day moving average is $11.97.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, topping 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%. Analysts expect that O-I Glass, Inc. will post 1.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on OI shares. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Wells Fargo & Company dropped their price target on 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. Barclays decreased their price objective on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Citigroup dropped 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 research report on Monday, January 6th. Finally, Bank of America raised their price target on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $15.38.

About O-I Glass

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.