Quadrature Capital Ltd Cuts Position in O-I Glass, Inc. (NYSE:OI)

Quadrature Capital Ltd lowered its position in shares of O-I Glass, Inc. (NYSE:OI) by 43.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,553 shares of the industrial products company’s stock after selling 12,947 shares during the quarter. Quadrature Capital Ltd’s holdings in O-I Glass were worth $271,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OI. Covestor Ltd lifted its stake in shares of O-I Glass by 259.7% during the third quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 1,205 shares in the last quarter. TFO Wealth Partners LLC raised its holdings in shares of O-I Glass by 24,311.1% during the 4th quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock valued at $36,000 after buying an additional 2,188 shares during the period. International Assets Investment Management LLC lifted its position in O-I Glass by 1,538.0% during the 4th quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 3,845 shares in the last quarter. Quadrant Capital Group LLC grew its position in O-I Glass by 37.3% in the fourth quarter. Quadrant Capital Group LLC now owns 5,168 shares of the industrial products company’s stock valued at $85,000 after acquiring an additional 1,404 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. acquired a new stake in O-I Glass in the fourth quarter valued at approximately $186,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

Analysts Set New Price Targets

OI has been the subject of several analyst reports. Wells Fargo & Company decreased their target price on shares of O-I Glass from $22.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a research report on Friday, June 14th. Royal Bank of Canada lowered their price objective on O-I Glass from $25.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd. Truist Financial reaffirmed a “buy” rating and issued a $17.00 target price (down from $20.00) on shares of O-I Glass in a research report on Thursday, May 2nd. Finally, Bank of America reissued a “neutral” rating and set a $16.00 price target (down previously from $21.00) on shares of O-I Glass in a research report on Friday, April 19th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.56.

O-I Glass Price Performance

Shares of OI opened at $11.01 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.56 and a debt-to-equity ratio of 2.26. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -6.92, a PEG ratio of 1.07 and a beta of 1.27. O-I Glass, Inc. has a 52 week low of $10.78 and a 52 week high of $23.57. The stock has a 50 day moving average of $12.92 and a 200-day moving average of $14.87.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.09. O-I Glass had a negative net margin of 3.45% and a positive return on equity of 18.25%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the firm earned $1.29 earnings per share. The firm’s revenue for the quarter was down 13.0% compared to the same quarter last year. As a group, analysts forecast that O-I Glass, Inc. will post 1.67 EPS for the current 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.