Jupiter Topco LLC Makes New $685,000 Investment in O-I Glass, Inc. $OI

Jupiter Topco LLC purchased a new position in O-I Glass, Inc. (NYSE:OI) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 71,129 shares of the industrial products company’s stock, valued at approximately $685,000.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Truist Financial decreased their price objective on O-I Glass from $13.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, July 30th. UBS Group lowered 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. Royal Bank Of Canada cut shares of O-I Glass from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $10.00 to $8.00 in a report on Thursday, August 13th. Weiss Ratings upgraded shares of O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. Finally, Wells Fargo & Company dropped their target price on O-I Glass from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, O-I Glass has an average rating of “Hold” and an average price target of $10.31.

O-I Glass Stock Up 0.1%

OI stock opened at $7.15 on Monday. O-I Glass, Inc. has a 52 week low of $6.29 and a 52 week high of $16.91. The business has a 50-day simple moving average of $8.10 and a 200 day simple moving average of $9.52. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 8.89. The company has a market cap of $1.10 billion, a PE ratio of -0.95, a price-to-earnings-growth ratio of 2.54 and a beta of 0.66.

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 company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. Sell-side analysts anticipate that O-I Glass, Inc. will post 0.39 EPS 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.