Bryce Point Capital LLC Takes Position in O-I Glass, Inc. $OI

Bryce Point Capital LLC bought a new position in O-I Glass, Inc. (NYSE:OI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 41,099 shares of the industrial products company’s stock, valued at approximately $533,000.

Other institutional investors also recently bought and sold shares of the company. Teacher Retirement System of Texas lifted its stake in O-I Glass by 3.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 23,495 shares of the industrial products company’s stock worth $346,000 after purchasing an additional 879 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of O-I Glass by 64.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock worth $35,000 after buying an additional 918 shares in the last quarter. KLP Kapitalforvaltning AS lifted its position in shares of O-I Glass by 3.1% in the second quarter. KLP Kapitalforvaltning AS now owns 33,600 shares of the industrial products company’s stock worth $495,000 after buying an additional 1,000 shares in the last quarter. Amundi boosted its stake in O-I Glass by 1.4% during the second quarter. Amundi now owns 75,483 shares of the industrial products company’s stock valued at $1,175,000 after buying an additional 1,031 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in O-I Glass by 3.2% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 35,267 shares of the industrial products company’s stock valued at $520,000 after buying an additional 1,093 shares in the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on OI. Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $17.00 in a report on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of O-I Glass in a research note on Thursday, January 22nd. Wall Street Zen raised shares of O-I Glass from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Truist Financial upped their target price on shares of O-I Glass from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $19.00 price target on shares of O-I Glass in a research report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.88.

O-I Glass Stock Down 1.0%

Shares of OI opened at $16.46 on Tuesday. The firm has a fifty day moving average price of $15.19 and a 200-day moving average price of $13.66. The company has a current ratio of 1.33, a quick ratio of 0.84 and a debt-to-equity ratio of 3.36. The firm has a market capitalization of $2.53 billion, a P/E ratio of -17.51, a P/E/G ratio of 0.20 and a beta of 0.78. O-I Glass, Inc. has a 12-month low of $9.23 and a 12-month high of $16.70.

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.