O-I Glass, Inc. $OI Stock Position Lowered by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. lessened its holdings in O-I Glass, Inc. (NYSE:OI) by 17.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,414,089 shares of the industrial products company’s stock after selling 501,017 shares during the period. O-I Glass comprises approximately 3.5% of Levin Capital Strategies L.P.’s holdings, making the stock its 5th biggest holding. Levin Capital Strategies L.P. owned about 1.57% of O-I Glass worth $35,584,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in OI. GAMMA Investing LLC raised its stake in shares of O-I Glass by 79.3% in 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 period. Wealth Enhancement Advisory Services LLC increased its stake in O-I Glass by 44.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,444 shares of the industrial products company’s stock worth $189,000 after buying an additional 5,053 shares during the period. Allspring Global Investments Holdings LLC increased its stake in O-I Glass by 53.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 40,037 shares of the industrial products company’s stock worth $466,000 after buying an additional 13,983 shares during the period. Teacher Retirement System of Texas purchased a new stake in O-I Glass during the 1st quarter worth $259,000. Finally, Principal Financial Group Inc. increased its stake in O-I Glass by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 767,260 shares of the industrial products company’s stock worth $8,800,000 after buying an additional 17,254 shares during the period. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Trading Up 4.0%

Shares of NYSE:OI opened at $11.74 on Tuesday. The company has a market cap of $1.81 billion, a PE ratio of -7.12, a P/E/G ratio of 0.22 and a beta of 0.93. The company’s 50-day moving average price is $12.54 and its 200 day moving average price is $13.26. 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 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 3.58.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of O-I Glass in a research note on Wednesday, October 8th. Wells Fargo & Company reaffirmed a “mixed” rating on shares of O-I Glass in a research note on Monday, August 4th. Wall Street Zen lowered shares of O-I Glass from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. UBS Group reissued a “buy” rating and set a $19.00 price objective (up from $17.00) on shares of O-I Glass in a report on Wednesday, July 9th. Finally, Bank of America reissued a “neutral” rating and set a $17.00 price objective (up from $15.00) on shares of O-I Glass in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.56.

O-I Glass 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.