IQ EQ FUND MANAGEMENT IRELAND Ltd Has $3.68 Million Stock Position in O-I Glass, Inc. $OI

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its position in O-I Glass, Inc. (NYSE:OI) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 249,511 shares of the industrial products company’s stock after selling 10,904 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned 0.16% of O-I Glass worth $3,678,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in O-I Glass by 31.7% during the 2nd quarter. GAMMA Investing LLC now owns 3,403 shares of the industrial products company’s stock worth $50,000 after buying an additional 820 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of O-I Glass by 3.9% during the second quarter. Teacher Retirement System of Texas now owns 23,495 shares of the industrial products company’s stock valued at $346,000 after acquiring an additional 879 shares in the last quarter. KLP Kapitalforvaltning AS raised its position in shares of O-I Glass by 3.1% during the second quarter. KLP Kapitalforvaltning AS now owns 33,600 shares of the industrial products company’s stock worth $495,000 after purchasing an additional 1,000 shares during the period. Russell Investments Group Ltd. raised its position in shares of O-I Glass by 1.5% during the first quarter. Russell Investments Group Ltd. now owns 70,572 shares of the industrial products company’s stock worth $809,000 after purchasing an additional 1,074 shares during the period. Finally, SummerHaven Investment Management LLC lifted its holdings in shares of O-I Glass by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 76,510 shares of the industrial products company’s stock worth $1,128,000 after purchasing an additional 1,284 shares in the last quarter. 97.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of O-I Glass in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of O-I Glass from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Truist Financial decreased their target price on shares of 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. Wells Fargo & Company restated a “mixed” rating on shares of O-I Glass in a report on Monday, August 4th. Finally, Citigroup raised their price target on shares of O-I Glass from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.56.

O-I Glass Stock Down 2.7%

OI opened at $12.26 on Tuesday. O-I Glass, Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $16.04. The firm has a market capitalization of $1.89 billion, a P/E ratio of -7.43, a PEG ratio of 0.24 and a beta of 0.93. The company’s 50-day moving average is $12.69 and its 200 day moving average is $13.21. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.24 and a quick ratio of 0.77.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Wednesday, March 1st. The industrial products company reported $0.36 EPS 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 during the quarter. Research analysts expect that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other O-I Glass news, SVP Darrow A. Abrahams bought 3,828 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was purchased at an average cost of $13.05 per share, with a total value of $49,955.40. Following the transaction, the senior vice president directly owned 184,447 shares in the company, valued at $2,407,033.35. This trade represents a 2.12% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gordon Hardie bought 8,000 shares of the stock in a transaction dated Tuesday, August 5th. The shares were acquired at an average price of $13.10 per share, for a total transaction of $104,800.00. Following the completion of the purchase, the chief executive officer directly owned 515,817 shares in the company, valued at approximately $6,757,202.70. This trade represents a 1.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.49% of the company’s stock.

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.