Semanteon Capital Management LP Takes Position in O-I Glass, Inc. (NYSE:OI)

Semanteon Capital Management LP purchased a new stake in O-I Glass, Inc. (NYSE:OI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 72,720 shares of the industrial products company’s stock, valued at approximately $1,191,000.

A number of other large investors also recently modified their holdings of the company. State of New Jersey Common Pension Fund D lifted its stake in shares of O-I Glass by 35.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 170,471 shares of the industrial products company’s stock valued at $2,792,000 after acquiring an additional 44,861 shares during the last quarter. Bailard Inc. bought a new position in O-I Glass during the 4th quarter worth $668,000. Private Management Group Inc. raised its position in O-I Glass by 0.7% during the 4th quarter. Private Management Group Inc. now owns 2,051,886 shares of the industrial products company’s stock worth $33,610,000 after purchasing an additional 14,018 shares during the last quarter. Wedge Capital Management L L P NC raised its position in O-I Glass by 40.0% during the 4th quarter. Wedge Capital Management L L P NC now owns 45,064 shares of the industrial products company’s stock worth $738,000 after purchasing an additional 12,871 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in O-I Glass by 193.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 87,798 shares of the industrial products company’s stock worth $1,438,000 after purchasing an additional 57,867 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors.

O-I Glass Trading Down 0.3 %

Shares of OI stock traded down $0.04 during mid-day trading on Thursday, hitting $14.85. The company’s stock had a trading volume of 1,102,094 shares, compared to its average volume of 1,659,690. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.77 and a current ratio of 1.23. The company’s fifty day simple moving average is $16.06 and its 200-day simple moving average is $15.62. The company has a market cap of $2.31 billion, a PE ratio of -19.80, a P/E/G ratio of 1.04 and a beta of 1.35. O-I Glass, Inc. has a 52 week low of $13.56 and a 52 week high of $23.57.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.03 by $0.09. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. As a group, equities research analysts expect that O-I Glass, Inc. will post 2.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on OI shares. Barclays raised their target price on O-I Glass from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 13th. Truist Financial reaffirmed a “buy” rating and set a $20.00 target price on shares of O-I Glass in a research report on Monday, March 25th. Citigroup lowered O-I Glass from a “buy” rating to a “neutral” rating and raised their target price for the stock from $17.00 to $18.00 in a research report on Wednesday, January 3rd. StockNews.com lowered O-I Glass from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, TheStreet lowered O-I Glass from a “b-” rating to a “c-” rating in a research report on Tuesday, February 6th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, O-I Glass currently has an average rating of “Hold” and a consensus price target of $22.67.

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.