Quantbot Technologies LP Takes $793,000 Position in O-I Glass, Inc. $OI

Quantbot Technologies LP acquired a new stake in O-I Glass, Inc. (NYSE:OI) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 82,395 shares of the industrial products company’s stock, valued at approximately $793,000. Quantbot Technologies LP owned about 0.05% of O-I Glass at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada increased its position in O-I Glass by 33.9% in the 1st quarter. Royal Bank of Canada now owns 112,800 shares of the industrial products company’s stock valued at $1,294,000 after acquiring an additional 28,548 shares during the period. AQR Capital Management LLC raised its stake in shares of O-I Glass by 154.0% during the first quarter. AQR Capital Management LLC now owns 177,117 shares of the industrial products company’s stock valued at $1,993,000 after acquiring an additional 107,388 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of O-I Glass by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,151 shares of the industrial products company’s stock worth $1,057,000 after purchasing an additional 4,055 shares during the period. United Services Automobile Association acquired a new position in shares of O-I Glass during the first quarter worth $119,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of O-I Glass by 43.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 526,279 shares of the industrial products company’s stock worth $6,036,000 after purchasing an additional 160,649 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on OI. BNP Paribas Exane downgraded O-I Glass from an “outperform” rating to a “neutral” rating and set a $8.50 price objective for the company. in a report on Thursday, July 30th. Bank of America reaffirmed an “underperform” rating and set a $11.00 target price on shares of O-I Glass in a report on Tuesday, July 14th. Citigroup raised O-I Glass from a “neutral” rating to a “buy” rating and increased their price target for the company from $8.00 to $9.00 in a research note on Friday, August 21st. Robert W. Baird set a $13.00 price target on O-I Glass in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada downgraded O-I Glass from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $10.00 to $8.00 in a research report on Thursday, August 13th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.31.

O-I Glass Price Performance

OI stock opened at $7.43 on Thursday. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -0.99, a PEG ratio of 2.44 and a beta of 0.66. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 8.89. O-I Glass, Inc. has a 12-month low of $6.29 and a 12-month high of $16.91. The company’s fifty day simple moving average is $8.40 and its 200 day simple moving average is $9.93.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.15). O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%.The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the business posted $0.53 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. On average, analysts expect that O-I Glass, Inc. will post 0.42 earnings per share for the current year.

O-I Glass Company 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.