JB Capital Partners LP Grows Position in O-I Glass, Inc. $OI

JB Capital Partners LP lifted its stake in O-I Glass, Inc. (NYSE:OI) by 63.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 155,000 shares of the industrial products company’s stock after purchasing an additional 60,000 shares during the period. JB Capital Partners LP owned approximately 0.10% of O-I Glass worth $2,285,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in OI. American Century Companies Inc. grew its holdings in O-I Glass by 11.0% in the first quarter. American Century Companies Inc. now owns 326,153 shares of the industrial products company’s stock valued at $3,741,000 after purchasing an additional 32,339 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of O-I Glass during the 1st quarter worth $658,000. Charles Schwab Investment Management Inc. boosted its position in shares of O-I Glass by 7.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,992,887 shares of the industrial products company’s stock worth $22,858,000 after buying an additional 144,030 shares in the last quarter. Nuveen LLC acquired a new stake in O-I Glass in the 1st quarter valued at about $10,738,000. Finally, Knights of Columbus Asset Advisors LLC acquired a new stake in O-I Glass in the 2nd quarter valued at about $1,329,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OI. Zacks Research downgraded shares of O-I Glass from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Wall Street Zen upgraded O-I Glass from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of O-I Glass in a research note on Wednesday, October 8th. Truist Financial dropped their price target on O-I Glass from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Finally, Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $14.00 to $17.00 in a report on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.67.

O-I Glass Stock Performance

NYSE:OI opened at $13.89 on Friday. The company has a market cap of $2.13 billion, a P/E ratio of -14.77, a P/E/G ratio of 0.22 and a beta of 0.78. The firm’s 50 day moving average is $12.63 and its two-hundred day moving average is $13.32. O-I Glass, Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $16.04. The company has a quick ratio of 0.84, a current ratio of 1.33 and a debt-to-equity ratio of 3.36.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Wednesday, March 1st. The industrial products company reported $0.36 EPS for the quarter. The business had revenue of $1.59 billion during the quarter. O-I Glass had a positive return on equity of 16.02% and a negative net margin of 2.26%. Analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current 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.