Boothbay Fund Management LLC decreased its position in O-I Glass, Inc. (NYSE:OI – Free Report) by 29.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 568,412 shares of the industrial products company’s stock after selling 234,617 shares during the period. Boothbay Fund Management LLC’s holdings in O-I Glass were worth $8,390,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OI. Alliancebernstein L.P. increased its stake in O-I Glass by 194.6% in the 2nd quarter. Alliancebernstein L.P. now owns 7,939,841 shares of the industrial products company’s stock valued at $117,033,000 after buying an additional 5,244,440 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in O-I Glass by 288.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,215,632 shares of the industrial products company’s stock valued at $47,463,000 after buying an additional 2,388,299 shares during the last quarter. Brandywine Global Investment Management LLC purchased a new stake in O-I Glass in the 4th quarter valued at about $25,064,000. Bank of America Corp DE increased its stake in O-I Glass by 222.6% in the 2nd quarter. Bank of America Corp DE now owns 2,206,251 shares of the industrial products company’s stock valued at $32,520,000 after buying an additional 1,522,384 shares during the last quarter. Finally, Bridgeway Capital Management LLC purchased a new stake in O-I Glass in the 3rd quarter valued at about $14,287,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.
O-I Glass Trading Up 0.3%
Shares of OI stock opened at $9.06 on Thursday. The company has a 50 day moving average of $9.35 and a 200-day moving average of $12.28. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 3.35. O-I Glass, Inc. has a 12-month low of $7.75 and a 12-month high of $16.91. The firm has a market cap of $1.39 billion, a P/E ratio of -7.42, a PEG ratio of 1.03 and a beta of 0.63.
Insider Buying and Selling
In other O-I Glass news, SVP Randolph L. Burns acquired 11,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was bought at an average cost of $9.32 per share, with a total value of $102,520.00. Following the acquisition, the senior vice president owned 133,932 shares in the company, valued at approximately $1,248,246.24. This represents a 8.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Darrow A. Abrahams purchased 2,774 shares of the business’s stock in a transaction on Monday, May 11th. The stock was purchased at an average cost of $9.04 per share, with a total value of $25,076.96. Following the completion of the acquisition, the senior vice president owned 235,928 shares in the company, valued at approximately $2,132,789.12. This trade represents a 1.19% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 17,083 shares of company stock valued at $157,312. Company insiders own 1.00% of the company’s stock.
Analysts Set New Price Targets
OI has been the subject of several analyst reports. Citigroup decreased their price objective on shares of O-I Glass from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Wall Street Zen lowered shares of O-I Glass from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings upgraded shares of O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 11th. Royal Bank Of Canada set a $14.00 price objective on shares of O-I Glass in a research note on Friday, April 17th. Finally, UBS Group decreased their price objective on shares of O-I Glass from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $15.50.
View Our Latest Analysis on OI
O-I Glass Profile
O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.
Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.
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