Advisors Preferred LLC Trims Stake in O-I Glass, Inc. $OI

Advisors Preferred LLC reduced its position in O-I Glass, Inc. (NYSE:OI) by 84.2% in the 2nd quarter, Holdings Channel reports. The firm owned 37,607 shares of the industrial products company’s stock after selling 200,787 shares during the period. Advisors Preferred LLC’s holdings in O-I Glass were worth $569,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in O-I Glass by 79.3% during the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,142 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in O-I Glass during the 1st quarter valued at approximately $30,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in O-I Glass during the 1st quarter valued at approximately $85,000. AlphaQuest LLC raised its stake in O-I Glass by 1,392.5% during the 2nd quarter. AlphaQuest LLC now owns 7,716 shares of the industrial products company’s stock valued at $114,000 after acquiring an additional 7,199 shares during the last quarter. Finally, CWM LLC raised its stake in O-I Glass by 623.9% during the 1st quarter. CWM LLC now owns 8,390 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 7,231 shares during the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. UBS Group reaffirmed a “buy” rating and set a $19.00 price objective (up from $17.00) on shares of O-I Glass in a research note on Wednesday, July 9th. Truist Financial cut their target price on O-I Glass from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Zacks Research downgraded O-I Glass from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Wells Fargo & Company reissued a “mixed” rating on shares of O-I Glass in a research note on Monday, August 4th. Finally, Wall Street Zen downgraded O-I Glass from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, O-I Glass presently has a consensus rating of “Moderate Buy” and an average price target of $16.56.

O-I Glass Stock Performance

OI opened at $11.74 on Tuesday. The stock has a market cap of $1.81 billion, a P/E ratio of -7.12, a P/E/G ratio of 0.22 and a beta of 0.93. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.24 and a quick ratio of 0.77. The stock’s 50 day simple moving average is $12.54 and its 200 day simple moving average is $13.26. O-I Glass, Inc. has a 1-year low of $9.23 and a 1-year high of $16.04.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Wednesday, March 1st. The industrial products company reported $0.36 earnings per share for the quarter. The business had revenue of $1.59 billion for the quarter. O-I Glass had a positive return on equity of 13.70% and a negative net margin of 3.95%. As a group, equities analysts anticipate that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

O-I Glass Company Profile

O-I Glass, Inc, through its subsidiaries, engages in the manufacture and sale of glass containers to food and beverage manufacturers primarily in the Americas, Europe, and internationally. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.