Cooper Creek Partners Management LLC Buys 1,705,216 Shares of O-I Glass, Inc. (NYSE:OI)

Cooper Creek Partners Management LLC boosted its stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 18.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,082,262 shares of the industrial products company's stock after buying an additional 1,705,216 shares during the quarter. O-I Glass accounts for approximately 3.7% of Cooper Creek Partners Management LLC's portfolio, making the stock its 6th largest holding. Cooper Creek Partners Management LLC owned 7.17% of O-I Glass worth $120,132,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of O-I Glass by 2.2% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 42,900 shares of the industrial products company's stock valued at $465,000 after purchasing an additional 916 shares during the last quarter. 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 valued at $179,000 after buying an additional 1,954 shares in the last quarter. KBC Group NV grew its holdings in O-I Glass by 42.5% during the 4th quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock valued at $84,000 after buying an additional 2,309 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in O-I Glass by 3.7% during the fourth quarter. Illinois Municipal Retirement Fund now owns 89,224 shares of the industrial products company's stock worth $967,000 after buying an additional 3,207 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of O-I Glass by 0.8% during the fourth quarter. Rhumbline Advisers now owns 485,732 shares of the industrial products company's stock valued at $5,265,000 after acquiring an additional 3,980 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

O-I Glass Stock Up 1.0 %

Shares of OI stock traded up $0.11 during trading hours on Friday, reaching $10.93. The company had a trading volume of 876,741 shares, compared to its average volume of 1,607,225. The stock's fifty day simple moving average is $11.33 and its 200 day simple moving average is $11.63. The company has a market capitalization of $1.69 billion, a P/E ratio of -15.40, a price-to-earnings-growth ratio of 0.24 and a beta of 0.98. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. O-I Glass, Inc. has a twelve month low of $9.23 and a twelve month high of $15.72.

O-I Glass (NYSE:OI - Get Free Report) last posted its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates 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, sell-side analysts expect that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OI has been the subject of several recent analyst reports. Citigroup lowered their target price on shares of O-I Glass from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Wells Fargo & Company dropped their price target on O-I Glass from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $16.00 price objective on shares of O-I Glass in a research note on Monday, March 17th. Finally, Bank of America increased their target price on shares of O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, O-I Glass currently has a consensus rating of "Moderate Buy" and a consensus price target 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.