O-I Glass, Inc. $OI Stock: Leeward Investments LLC MA Decreases Position

Leeward Investments LLC MA lowered its position in O-I Glass, Inc. (NYSE:OI) by 15.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 442,668 shares of the industrial products company’s stock after selling 81,866 shares during the period. Leeward Investments LLC MA’s holdings in O-I Glass were worth $2,501,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Optiver Holding B.V. raised its position in O-I Glass by 491.5% during the first quarter. Optiver Holding B.V. now owns 2,496 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 2,074 shares during the last quarter. Fiduciary Financial Advisors acquired a new stake in shares of O-I Glass in the second quarter valued at approximately $34,000. Fortitude Family Office LLC grew its position in shares of O-I Glass by 5,036.0% in the third quarter. Fortitude Family Office LLC now owns 4,417 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 4,331 shares during the last quarter. Global Retirement Partners LLC purchased a new position in shares of O-I Glass during the 2nd quarter worth approximately $44,000. Finally, Wealth Enhancement Trust Services Inc. increased its stake in shares of O-I Glass by 57.3% during the 3rd quarter. Wealth Enhancement Trust Services Inc. now owns 5,825 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 2,121 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Price Performance

Shares of NYSE:OI opened at $6.42 on Tuesday. The company has a market cap of $987.11 million, a P/E ratio of -0.85, a P/E/G ratio of 2.49 and a beta of 0.68. 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 52 week low of $5.30 and a 52 week high of $16.91. The business has a fifty day simple moving average of $6.35 and a 200-day simple moving average of $9.73.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.15). The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.68 billion. O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 earnings per share. Equities research analysts forecast that O-I Glass, Inc. will post 0.36 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Royal Bank Of Canada lowered their target price on O-I Glass from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 13th. Wells Fargo & Company reduced their price objective on O-I Glass from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Truist Financial reduced their price objective on O-I Glass from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Robert W. Baird set a $13.00 price objective on O-I Glass in a research report on Thursday, July 30th. Finally, BNP Paribas Exane downgraded shares of O-I Glass from an “outperform” rating to a “neutral” rating and set a $8.50 target price for the company. in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.06.

O-I Glass Company Profile

O-I Glass, Inc is a global manufacturer of glass packaging products. The company produces glass bottles and jars primarily for the food, beverage, beer, wine, spirits, and pharmaceutical industries, serving brand owners and consumer-products companies.

Its products are designed to provide packaging, preservation, and presentation for a range of consumer goods. O-I also offers glass packaging in various shapes, sizes, and colors, including custom solutions developed for individual brands.

The company traces its history to the Owens Bottle Company, founded in 1903, and the Illinois Glass Company.