Levin Capital Strategies L.P. Reduces Stock Holdings in O-I Glass, Inc. $OI

Levin Capital Strategies L.P. lowered its holdings in O-I Glass, Inc. (NYSE:OI) by 3.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,328,504 shares of the industrial products company’s stock after selling 85,585 shares during the period. O-I Glass makes up 2.7% of Levin Capital Strategies L.P.’s portfolio, making the stock its 8th biggest position. Levin Capital Strategies L.P. owned about 1.51% of O-I Glass worth $30,201,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in O-I Glass in the second quarter valued at about $29,000. Smartleaf Asset Management LLC raised its holdings in 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 valued at $35,000 after acquiring an additional 918 shares in the last quarter. State of Wyoming bought a new stake in shares of O-I Glass during the second quarter worth about $35,000. Neo Ivy Capital Management bought a new position in O-I Glass during the 2nd quarter valued at $51,000. Finally, Osaic Holdings Inc. boosted its holdings in O-I Glass by 29.7% during the 2nd quarter. Osaic Holdings Inc. now owns 6,779 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 1,554 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors.

O-I Glass Trading Up 2.2%

NYSE OI opened at $14.97 on Thursday. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.25 and a quick ratio of 0.77. The company has a fifty day moving average of $15.34 and a 200 day moving average of $13.73. The company has a market capitalization of $2.28 billion, a PE ratio of -17.82, a P/E/G ratio of 0.66 and a beta of 0.78. O-I Glass, Inc. has a 1 year low of $9.23 and a 1 year high of $16.91.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. O-I Glass had a negative net margin of 2.01% and a positive return on equity of 18.07%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the business earned ($0.05) earnings per share. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. Research analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on OI shares. Zacks Research cut O-I Glass from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. UBS Group reissued a “buy” rating and issued a $21.00 price target on shares of O-I Glass in a report on Thursday, February 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of O-I Glass in a report on Thursday, January 22nd. Truist Financial upped their target price on O-I Glass from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $19.00 price objective on shares of O-I Glass in a report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, O-I Glass has a consensus rating of “Moderate Buy” and a consensus target price of $18.22.

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.