Bryce Point Capital LLC Makes New $533,000 Investment in O-I Glass, Inc. $OI

Bryce Point Capital LLC purchased a new stake in shares of O-I Glass, Inc. (NYSE:OI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 41,099 shares of the industrial products company’s stock, valued at approximately $533,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Teacher Retirement System of Texas grew its holdings in O-I Glass by 3.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 23,495 shares of the industrial products company’s stock worth $346,000 after acquiring an additional 879 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of O-I Glass by 64.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 918 shares during the period. KLP Kapitalforvaltning AS boosted its stake in shares of O-I Glass by 3.1% during the second quarter. KLP Kapitalforvaltning AS now owns 33,600 shares of the industrial products company’s stock valued at $495,000 after purchasing an additional 1,000 shares in the last quarter. Amundi boosted its stake in shares of O-I Glass by 1.4% during the second quarter. Amundi now owns 75,483 shares of the industrial products company’s stock valued at $1,175,000 after purchasing an additional 1,031 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in O-I Glass by 3.2% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 35,267 shares of the industrial products company’s stock valued at $520,000 after buying an additional 1,093 shares during the period. 97.24% of the stock is currently owned by institutional investors.

O-I Glass Stock Down 1.0%

NYSE:OI opened at $16.46 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 0.84 and a debt-to-equity ratio of 3.36. O-I Glass, Inc. has a twelve month low of $9.23 and a twelve month high of $16.70. The company has a market cap of $2.53 billion, a PE ratio of -17.51, a P/E/G ratio of 0.20 and a beta of 0.78. The company’s 50 day moving average is $15.19 and its two-hundred day moving average is $13.66.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on OI shares. Wall Street Zen upgraded O-I Glass from a “buy” rating to a “strong-buy” rating in a report on Saturday. Wells Fargo & Company upgraded O-I Glass from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $15.00 to $18.00 in a research note on Tuesday, January 6th. Zacks Research downgraded O-I Glass from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Truist Financial boosted their target price on shares of O-I Glass from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Finally, Citigroup raised their price target on shares of O-I Glass from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, O-I Glass presently has a consensus rating of “Moderate Buy” and an average target price of $17.88.

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.