Schonfeld Strategic Advisors LLC Reduces Stock Holdings in O-I Glass, Inc. (NYSE:OI)

Schonfeld Strategic Advisors LLC lowered its holdings in O-I Glass, Inc. (NYSE:OI) by 90.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,596 shares of the industrial products company’s stock after selling 605,405 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in O-I Glass were worth $711,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in 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 worth $8,130,000 after purchasing an additional 94,671 shares in the last quarter. Sei Investments Co. grew its position in 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 valued at $1,010,000 after buying an additional 49,383 shares during the period. Victory Capital Management Inc. increased its holdings in O-I Glass by 57.1% in the fourth quarter. Victory Capital Management Inc. now owns 139,302 shares of the industrial products company’s stock valued at $1,510,000 after buying an additional 50,641 shares in the last quarter. Barclays PLC raised its position in shares of O-I Glass by 349.3% in the third quarter. Barclays PLC now owns 261,161 shares of the industrial products company’s stock worth $3,427,000 after acquiring an additional 203,037 shares during the period. Finally, Amundi grew its position in shares of O-I Glass by 212.9% during the 4th quarter. Amundi now owns 95,302 shares of the industrial products company’s stock valued at $996,000 after acquiring an additional 64,844 shares during the period. Hedge funds and other institutional investors own 97.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OI. Truist Financial reiterated a “buy” rating and set a $16.00 price target (up previously from $13.00) on shares of O-I Glass in a research report on Thursday, May 1st. Citigroup lifted their price target 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $16.00 price objective on shares of O-I Glass in a report on Monday, March 17th. Finally, Barclays lifted their target price on shares of O-I Glass from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.88.

O-I Glass Stock Up 2.6 %

Shares of NYSE:OI opened at $13.43 on Friday. O-I Glass, Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $14.15. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. The firm’s 50-day simple moving average is $11.62 and its 200-day simple moving average is $11.56. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -18.92, a PEG ratio of 0.24 and a beta of 0.93.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.22. The firm had revenue of $1.57 billion during 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%. O-I Glass’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 earnings per share. As a group, equities research analysts predict that O-I Glass, Inc. will post 1.33 earnings per share for the current 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.