Quantbot Technologies LP Takes Position in O-I Glass, Inc. $OI

Quantbot Technologies LP bought a new stake in shares of O-I Glass, Inc. (NYSE:OI) during the second quarter, Holdings Channel reports. The institutional investor bought 82,395 shares of the industrial products company’s stock, valued at approximately $793,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Farther Finance Advisors LLC increased its stake in O-I Glass by 87.6% in the fourth quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 830 shares in the last quarter. Optiver Holding B.V. raised its holdings in shares of O-I Glass by 491.5% during the first quarter. Optiver Holding B.V. now owns 2,496 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 2,074 shares during the period. Headlands Technologies LLC bought a new position in shares of O-I Glass during the 2nd quarter worth about $29,000. Quarry LP bought a new position in shares of O-I Glass during the 4th quarter worth about $32,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of O-I Glass by 36,533.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock valued at $32,000 after buying an additional 2,192 shares during the period. 97.24% of the stock is owned by institutional investors.

O-I Glass Stock Down 1.1%

Shares of NYSE OI opened at $7.43 on Thursday. The company has a debt-to-equity ratio of 8.89, a current ratio of 1.26 and a quick ratio of 0.77. The company has a 50-day moving average price of $8.40 and a 200-day moving average price of $9.93. The stock has a market capitalization of $1.14 billion, a P/E ratio of -0.99, a P/E/G ratio of 2.44 and a beta of 0.66. O-I Glass, Inc. has a 1 year low of $6.29 and a 1 year high of $16.91.

O-I Glass (NYSE:OI) last posted its 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 positive return on equity of 10.40% and a negative net margin of 18.13%.The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the company earned $0.53 EPS. The company’s revenue was down 2.2% on a year-over-year basis. On average, equities research analysts forecast that O-I Glass, Inc. will post 0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on OI shares. UBS Group decreased their target price on O-I Glass from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Weiss Ratings upgraded O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 14th. Robert W. Baird set a $13.00 price objective on O-I Glass in a research note on Thursday, July 30th. Royal Bank Of Canada downgraded O-I Glass from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $10.00 to $8.00 in a report on Thursday, August 13th. Finally, Zacks Research raised O-I Glass from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.31.

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.