O-I Glass, Inc. $OI Stock Sold by Leeward Investments LLC MA

Leeward Investments LLC MA decreased its holdings in shares of O-I Glass, Inc. (NYSE:OI) by 15.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 442,668 shares of the industrial products company’s stock after selling 81,866 shares during the quarter. Leeward Investments LLC MA owned about 0.29% of O-I Glass worth $2,501,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of OI. BlackRock Inc. purchased a new stake in O-I Glass in the 2nd quarter valued at about $225,727,000. Dimensional Fund Advisors LP boosted its holdings in O-I Glass by 8.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,238,635 shares of the industrial products company’s stock valued at $97,094,000 after acquiring an additional 729,191 shares during the period. Cooper Creek Partners Management LLC lifted its holdings in O-I Glass by 73.8% during the 1st quarter. Cooper Creek Partners Management LLC now owns 7,006,293 shares of the industrial products company’s stock worth $73,636,000 after buying an additional 2,975,181 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in O-I Glass by 32.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,246,337 shares of the industrial products company’s stock worth $44,629,000 after purchasing an additional 1,030,705 shares in the last quarter. Finally, Bank of America Corp DE raised its position in O-I Glass by 15.6% in the 1st quarter. Bank of America Corp DE now owns 3,563,497 shares of the industrial products company’s stock valued at $37,452,000 after purchasing an additional 479,608 shares in the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Stock Performance

Shares of OI stock opened at $6.42 on Tuesday. The company has a market cap of $987.11 million, a price-to-earnings ratio of -0.85, a price-to-earnings-growth ratio of 2.49 and a beta of 0.68. The stock has a 50 day simple moving average of $6.35 and a 200-day simple moving average of $9.73. O-I Glass, Inc. has a 12-month low of $5.30 and a 12-month high of $16.91. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 8.89.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.15). O-I Glass had a negative net margin of 18.13% and a positive return on equity of 10.40%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities analysts forecast that O-I Glass, Inc. will post 0.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Citigroup upgraded O-I Glass from a “neutral” rating to a “buy” rating and raised their price target for the company from $8.00 to $9.00 in a research note on Friday, August 21st. Bank of America reiterated an “underperform” rating and issued a $11.00 price objective on shares of O-I Glass in a report on Tuesday, July 14th. BNP Paribas Exane lowered O-I Glass from an “outperform” rating to a “neutral” rating and set a $8.50 target price on the stock. in a research report on Thursday, July 30th. Truist Financial decreased their target price on O-I Glass from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Finally, Wells Fargo & Company lowered their price target on O-I Glass from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, O-I Glass currently has an average rating of “Hold” and an average price target of $9.06.

O-I Glass Profile

O-I Glass, Inc is a global manufacturer of glass packaging products. The company produces glass bottles and jars primarily for the food, beverage, beer, wine, spirits, and pharmaceutical industries, serving brand owners and consumer-products companies.

Its products are designed to provide packaging, preservation, and presentation for a range of consumer goods. O-I also offers glass packaging in various shapes, sizes, and colors, including custom solutions developed for individual brands.

The company traces its history to the Owens Bottle Company, founded in 1903, and the Illinois Glass Company.