O-I Glass, Inc. (NYSE:OI) is Highland Peak Capital LLC’s Largest Position

Highland Peak Capital LLC lifted its holdings in shares of O-I Glass, Inc. (NYSE:OI) by 87.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,877,259 shares of the industrial products company’s stock after acquiring an additional 1,809,237 shares during the period. O-I Glass accounts for approximately 23.0% of Highland Peak Capital LLC’s investment portfolio, making the stock its biggest holding. Highland Peak Capital LLC’s holdings in O-I Glass were worth $42,029,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Johnson Investment Counsel Inc. boosted its position in O-I Glass by 21.9% during the fourth quarter. Johnson Investment Counsel Inc. now owns 26,976 shares of the industrial products company’s stock worth $292,000 after purchasing an additional 4,849 shares in the last quarter. Amundi increased its stake in O-I Glass by 212.9% during the fourth quarter. Amundi now owns 95,302 shares of the industrial products company’s stock worth $996,000 after acquiring an additional 64,844 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of O-I Glass by 57.1% in the fourth quarter. Victory Capital Management Inc. now owns 139,302 shares of the industrial products company’s stock worth $1,510,000 after buying an additional 50,641 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of O-I Glass by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,848,857 shares of the industrial products company’s stock worth $20,042,000 after buying an additional 25,719 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in shares of O-I Glass by 277.1% in the fourth quarter. Jones Financial Companies Lllp now owns 14,982 shares of the industrial products company’s stock worth $162,000 after buying an additional 11,009 shares during the period. Institutional investors and hedge funds own 97.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on OI. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Bank of America increased their target price on O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Wells Fargo & Company dropped their price target on O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Citigroup dropped their price target on O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, O-I Glass currently has an average rating of “Moderate Buy” and a consensus target price of $15.38.

O-I Glass Stock Performance

Shares of NYSE OI opened at $11.85 on Monday. The stock has a fifty day moving average price of $11.17 and a two-hundred day moving average price of $11.92. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. The firm has a market cap of $1.82 billion, a P/E ratio of -16.68, a PEG ratio of 0.24 and a beta of 1.20. O-I Glass, Inc. has a 1 year low of $9.85 and a 1 year high of $17.58.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. Research analysts forecast that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

About O-I Glass

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.