O-I Glass, Inc. (NYSE:OI) Holdings Boosted by Cinctive Capital Management LP

Cinctive Capital Management LP raised its position in shares of O-I Glass, Inc. (NYSE:OI) by 6.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 692,512 shares of the industrial products company’s stock after purchasing an additional 41,892 shares during the quarter. Cinctive Capital Management LP’s holdings in O-I Glass were worth $9,086,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Maverick Capital Ltd. acquired a new position in O-I Glass during the third quarter valued at $1,264,000. Charles Schwab Investment Management Inc. grew its stake in O-I Glass by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,823,138 shares of the industrial products company’s stock valued at $23,920,000 after acquiring an additional 130,422 shares in the last quarter. Highland Peak Capital LLC acquired a new position in shares of O-I Glass in the 3rd quarter valued at about $27,132,000. Intech Investment Management LLC purchased a new stake in shares of O-I Glass in the third quarter worth approximately $563,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of O-I Glass by 22.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 99,230 shares of the industrial products company’s stock worth $1,302,000 after purchasing an additional 18,000 shares during the period. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Down 0.7 %

Shares of OI stock opened at $12.60 on Monday. The stock’s 50 day simple moving average is $12.69 and its 200 day simple moving average is $12.20. O-I Glass, Inc. has a twelve month low of $10.08 and a twelve month high of $17.58. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -4.57 and a beta of 1.20.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the business earned $0.80 EPS. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, research analysts predict that O-I Glass, Inc. will post 0.76 EPS for the current year.

Wall Street Analyst Weigh In

OI has been the topic of several research reports. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Royal Bank of Canada dropped their price target on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Barclays reduced their price objective on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.00 to $16.00 in a research report on Thursday, October 17th. Finally, Citigroup boosted their price target on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, O-I Glass currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.25.

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.