Readystate Asset Management LP acquired a new stake in O-I Glass, Inc. (NYSE:OI – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 84,079 shares of the industrial products company’s stock, valued at approximately $810,000. Readystate Asset Management LP owned about 0.05% of O-I Glass at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada raised its holdings in O-I Glass by 33.9% during the 1st quarter. Royal Bank of Canada now owns 112,800 shares of the industrial products company’s stock valued at $1,294,000 after buying an additional 28,548 shares during the period. AQR Capital Management LLC boosted its stake in O-I Glass by 154.0% during the first quarter. AQR Capital Management LLC now owns 177,117 shares of the industrial products company’s stock worth $1,993,000 after buying an additional 107,388 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in O-I Glass by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,151 shares of the industrial products company’s stock valued at $1,057,000 after acquiring an additional 4,055 shares during the last quarter. United Services Automobile Association bought a new position in O-I Glass during the first quarter valued at $119,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of O-I Glass by 43.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 526,279 shares of the industrial products company’s stock valued at $6,036,000 after acquiring an additional 160,649 shares during the period. Hedge funds and other institutional investors own 97.24% of the company’s stock.
O-I Glass Trading Up 0.1%
NYSE OI opened at $7.15 on Tuesday. The stock has a market cap of $1.10 billion, a PE ratio of -0.95, a PEG ratio of 2.54 and a beta of 0.66. O-I Glass, Inc. has a 12 month low of $6.29 and a 12 month high of $16.91. The company’s 50-day moving average price is $8.05 and its 200-day moving average price is $9.46. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 8.89.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 14th. Royal Bank Of Canada downgraded shares of O-I Glass from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $10.00 to $8.00 in a report on Thursday, August 13th. Truist Financial decreased their price objective on shares of O-I Glass from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Bank of America restated an “underperform” rating and set a $11.00 target price on shares of O-I Glass in a research report on Tuesday, July 14th. Finally, Zacks Research raised O-I Glass from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.31.
Get Our Latest Stock Analysis on OI
About O-I Glass
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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