71,129 Shares in O-I Glass, Inc. $OI Purchased by Jupiter Topco LLC

Jupiter Topco LLC purchased a new position in shares of O-I Glass, Inc. (NYSE:OI) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 71,129 shares of the industrial products company’s stock, valued at approximately $685,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. bought a new stake in O-I Glass during the second quarter worth $225,727,000. Dimensional Fund Advisors LP grew its stake in O-I Glass by 8.6% in 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 purchasing an additional 729,191 shares during the period. Alliancebernstein L.P. increased its position in shares of O-I Glass by 0.7% during the 3rd quarter. Alliancebernstein L.P. now owns 7,996,786 shares of the industrial products company’s stock valued at $103,718,000 after purchasing an additional 56,945 shares during the last quarter. Cooper Creek Partners Management LLC increased its position in shares of 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 valued at $73,636,000 after purchasing an additional 2,975,181 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of 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 during the period. 97.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OI. Truist Financial dropped their price target on O-I Glass from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Citigroup upgraded O-I Glass from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $8.00 to $9.00 in a research note on Friday, August 21st. UBS Group dropped their price objective on shares of O-I Glass from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Weiss Ratings upgraded shares of O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 14th. Finally, Zacks Research upgraded shares of O-I Glass from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, O-I Glass has a consensus rating of “Hold” and an average target price of $10.31.

O-I Glass Stock Up 0.1%

Shares of NYSE:OI opened at $7.15 on Monday. O-I Glass, Inc. has a 12-month low of $6.29 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. The stock has a fifty day simple moving average of $8.10 and a two-hundred day simple moving average of $9.52. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -0.95, a PEG ratio of 2.54 and a beta of 0.66.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.15). O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%.The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company posted $0.53 EPS. The company’s quarterly revenue was down 2.2% on a year-over-year basis. On average, research analysts anticipate that O-I Glass, Inc. will post 0.39 earnings per share for the current fiscal year.

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.