Wedge Capital Management L L P NC raised its holdings in shares of O-I Glass, Inc. (NYSE:OI – Free Report) by 19.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 112,491 shares of the industrial products company’s stock after purchasing an additional 18,588 shares during the period. Wedge Capital Management L L P NC’s holdings in O-I Glass were worth $1,476,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in OI. Newbridge Financial Services Group Inc. grew its holdings in shares of O-I Glass by 1,337.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock valued at $32,000 after buying an additional 2,675 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of O-I Glass by 371.0% during the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock valued at $32,000 after buying an additional 1,892 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of O-I Glass during the first quarter valued at $33,000. FinTrust Capital Advisors LLC purchased a new stake in shares of O-I Glass during the first quarter valued at $38,000. Finally, Headlands Technologies LLC purchased a new stake in shares of O-I Glass during the first quarter valued at $39,000. 97.24% of the stock is owned by institutional investors and hedge funds.
O-I Glass Stock Down 0.3 %
Shares of OI opened at $12.73 on Thursday. The firm has a market cap of $1.98 billion, a P/E ratio of -8.01, a PEG ratio of 1.88 and a beta of 1.17. O-I Glass, Inc. has a 12 month low of $10.08 and a 12 month high of $17.58. The stock’s 50 day moving average is $12.57 and its two-hundred day moving average is $12.73. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 2.85.
Analyst Upgrades and Downgrades
OI has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their price objective on shares of O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. UBS Group lowered their price target on shares of O-I Glass from $26.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Truist Financial reaffirmed a “buy” rating and issued a $16.00 price target (down from $17.00) on shares of O-I Glass in a report on Thursday, August 1st. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Citigroup upped their price target on shares of O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, O-I Glass presently has an average rating of “Moderate Buy” and an average target price of $16.63.
Read Our Latest Stock Report on O-I Glass
Insider Transactions at O-I Glass
In other news, Director John Humphrey acquired 15,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average cost of $11.30 per share, for a total transaction of $169,500.00. Following the acquisition, the director now owns 84,227 shares in the company, valued at approximately $951,765.10. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.49% of the company’s stock.
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.
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