Y Intercept Hong Kong Ltd raised its position in O-I Glass, Inc. (NYSE:OI – Free Report) by 222.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 187,346 shares of the industrial products company’s stock after purchasing an additional 129,331 shares during the period. Y Intercept Hong Kong Ltd’s holdings in O-I Glass were worth $1,969,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of OI. Farther Finance Advisors LLC grew its holdings in shares of O-I Glass by 87.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock valued at $26,000 after buying an additional 830 shares during the period. Headlands Technologies LLC bought a new stake in shares of O-I Glass in the 2nd quarter valued at $29,000. Quarry LP acquired a new stake in O-I Glass during the 4th quarter worth $32,000. Caitong International Asset Management Co. Ltd raised its stake in O-I Glass by 36,533.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock worth $32,000 after buying an additional 2,192 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in O-I Glass by 64.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 918 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.
O-I Glass Price Performance
OI stock opened at $9.55 on Thursday. The stock has a 50-day moving average price of $9.01 and a two-hundred day moving average price of $11.76. O-I Glass, Inc. has a 1 year low of $7.75 and a 1 year high of $16.91. The stock has a market cap of $1.46 billion, a PE ratio of -7.83, a price-to-earnings-growth ratio of 1.13 and a beta of 0.62. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 3.35.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on OI shares. Truist Financial reissued a “buy” rating and issued a $14.00 target price (down from $15.00) on shares of O-I Glass in a research note on Thursday, April 30th. UBS Group cut their price objective on O-I Glass from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Weiss Ratings lowered O-I Glass from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 30th. Royal Bank Of Canada set a $14.00 target price on O-I Glass in a research note on Friday, April 17th. Finally, Citigroup cut their price target on shares of O-I Glass from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $15.14.
Check Out Our Latest Analysis on O-I Glass
Insider Activity at O-I Glass
In other news, SVP Eduardo Restrepo bought 3,309 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $8.98 per share, for a total transaction of $29,714.82. Following the purchase, the senior vice president owned 94,199 shares of the company’s stock, valued at approximately $845,907.02. The trade was a 3.64% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Randolph L. Burns purchased 11,000 shares of O-I Glass stock in a transaction on Friday, May 8th. The shares were purchased at an average cost of $9.32 per share, with a total value of $102,520.00. Following the transaction, the senior vice president owned 133,932 shares in the company, valued at approximately $1,248,246.24. The trade was a 8.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 17,083 shares of company stock valued at $157,312. 1.00% of the stock is owned by insiders.
O-I Glass Company 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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