IPG Investment Advisors LLC Acquires 462,040 Shares of O-I Glass, Inc. (NYSE:OI)

IPG Investment Advisors LLC lifted its holdings in O-I Glass, Inc. (NYSE:OI) by 33.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,840,668 shares of the industrial products company’s stock after purchasing an additional 462,040 shares during the period. O-I Glass accounts for about 4.5% of IPG Investment Advisors LLC’s investment portfolio, making the stock its 5th biggest holding. IPG Investment Advisors LLC’s holdings in O-I Glass were worth $19,953,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of OI. Highland Peak Capital LLC raised its holdings in O-I Glass by 87.5% in the 4th quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company’s stock worth $42,029,000 after acquiring an additional 1,809,237 shares during the period. Geode Capital Management LLC lifted its position in shares of O-I Glass by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company’s stock worth $46,827,000 after purchasing an additional 37,238 shares during the last quarter. Segall Bryant & Hamill LLC boosted its stake in O-I Glass by 31.5% during the 4th quarter. Segall Bryant & Hamill LLC now owns 3,242,750 shares of the industrial products company’s stock valued at $35,151,000 after purchasing an additional 777,036 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in O-I Glass by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,848,857 shares of the industrial products company’s stock valued at $20,042,000 after buying an additional 25,719 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in O-I Glass by 111.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,401,400 shares of the industrial products company’s stock worth $15,191,000 after buying an additional 737,123 shares during the period. 97.24% of the stock is owned by institutional investors and hedge funds.

O-I Glass Trading Down 4.0 %

Shares of OI stock opened at $11.54 on Friday. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. The firm has a fifty day moving average of $11.55 and a 200-day moving average of $11.85. O-I Glass, Inc. has a 52-week low of $9.85 and a 52-week high of $17.58. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -16.25, a P/E/G ratio of 0.24 and a beta of 1.20.

O-I Glass (NYSE:OI) last posted its quarterly earnings results 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%. On average, equities research analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OI has been the subject of several research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $16.00 price objective on shares of O-I Glass in a research report on Monday, March 17th. Citigroup reduced 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. Bank of America boosted their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company cut their price objective on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $15.38.

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.