Quantbot Technologies LP Acquires Shares of 149,010 O-I Glass, Inc. (NYSE:OI)

Quantbot Technologies LP bought a new position in O-I Glass, Inc. (NYSE:OI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 149,010 shares of the industrial products company’s stock, valued at approximately $1,615,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OI. Corient Private Wealth LLC lifted its stake in O-I Glass by 13.4% in the 4th quarter. Corient Private Wealth LLC now owns 16,544 shares of the industrial products company’s stock worth $179,000 after purchasing an additional 1,954 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of O-I Glass by 55.1% in the fourth quarter. Natixis Advisors LLC now owns 25,812 shares of the industrial products company’s stock worth $280,000 after buying an additional 9,175 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in O-I Glass by 56.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 155,343 shares of the industrial products company’s stock valued at $1,684,000 after buying an additional 56,113 shares during the last quarter. Markel Group Inc. grew its holdings in O-I Glass by 1.2% during the 4th quarter. Markel Group Inc. now owns 824,100 shares of the industrial products company’s stock valued at $8,933,000 after buying an additional 10,000 shares in the last quarter. Finally, Highland Peak Capital LLC grew its holdings in O-I Glass by 87.5% during the 4th quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company’s stock valued at $42,029,000 after buying an additional 1,809,237 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Bank of America increased their target price on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $16.00 price objective on shares of O-I Glass in a research note on Monday, March 17th. Wells Fargo & Company reduced their target price on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, Citigroup lowered their price target on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.38.

O-I Glass Price Performance

O-I Glass stock opened at $11.96 on Tuesday. The firm has a market capitalization of $1.84 billion, a PE ratio of -16.84, a price-to-earnings-growth ratio of 0.24 and a beta of 1.20. O-I Glass, Inc. has a 12-month low of $9.85 and a 12-month high of $17.58. The firm has a 50-day moving average price of $11.43 and a 200-day moving average price of $11.86. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78.

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

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.