Signaturefd LLC Cuts Stock Position in O-I Glass, Inc. (NYSE:OI)

Signaturefd LLC reduced its position in O-I Glass, Inc. (NYSE:OI) by 28.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,646 shares of the industrial products company’s stock after selling 1,076 shares during the quarter. Signaturefd LLC’s holdings in O-I Glass were worth $43,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp boosted its holdings in O-I Glass by 414.2% during the 3rd quarter. Van ECK Associates Corp now owns 129,826 shares of the industrial products company’s stock valued at $2,172,000 after acquiring an additional 104,576 shares during the period. Hussman Strategic Advisors Inc. purchased a new stake in O-I Glass during the 3rd quarter valued at about $1,757,000. New York State Common Retirement Fund boosted its holdings in O-I Glass by 14.4% during the 3rd quarter. New York State Common Retirement Fund now owns 523,860 shares of the industrial products company’s stock valued at $8,764,000 after acquiring an additional 65,835 shares during the period. American Century Companies Inc. boosted its holdings in O-I Glass by 7.8% during the 3rd quarter. American Century Companies Inc. now owns 1,672,400 shares of the industrial products company’s stock valued at $27,979,000 after acquiring an additional 121,495 shares during the period. Finally, Schonfeld Strategic Advisors LLC boosted its holdings in O-I Glass by 378.2% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 63,116 shares of the industrial products company’s stock valued at $1,056,000 after acquiring an additional 49,916 shares during the period. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OI has been the subject of a number of recent analyst reports. UBS Group initiated coverage on O-I Glass in a research report on Tuesday, January 16th. They issued a “buy” rating and a $26.00 target price for the company. Truist Financial reiterated a “buy” rating and set a $17.00 target price (down from $20.00) on shares of O-I Glass in a research note on Thursday. StockNews.com downgraded O-I Glass from a “hold” rating to a “sell” rating in a research note on Thursday. Wells Fargo & Company dropped their price target on O-I Glass from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Bank of America restated a “neutral” rating and issued a $16.00 price target (down from $21.00) on shares of O-I Glass in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.89.

O-I Glass Price Performance

NYSE:OI opened at $13.09 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 2.69. The business’s 50-day simple moving average is $15.79 and its two-hundred day simple moving average is $15.56. The stock has a market cap of $2.04 billion, a PE ratio of -8.23, a P/E/G ratio of 1.04 and a beta of 1.36. O-I Glass, Inc. has a 52 week low of $12.40 and a 52 week high of $23.57.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.36 by $0.09. O-I Glass had a positive return on equity of 17.85% and a negative net margin of 3.45%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the business posted $1.29 earnings per share. The firm’s revenue was down 13.0% on a year-over-year basis. As a group, analysts forecast that O-I Glass, Inc. will post 2.33 EPS for the current fiscal year.

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.