Highland Peak Capital LLC acquired a new position in O-I Glass, Inc. (NYSE:OI - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,068,022 shares of the industrial products company's stock, valued at approximately $27,132,000. O-I Glass accounts for 11.9% of Highland Peak Capital LLC's holdings, making the stock its 2nd largest position. Highland Peak Capital LLC owned approximately 1.34% of O-I Glass as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of OI. Harbor Capital Advisors Inc. purchased a new stake in O-I Glass during the 3rd quarter valued at $27,000. Newbridge Financial Services Group Inc. boosted 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 worth $32,000 after purchasing an additional 2,675 shares during the period. GAMMA Investing LLC grew its stake in shares of O-I Glass by 371.0% in the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company's stock worth $32,000 after purchasing an additional 1,892 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in O-I Glass by 28.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company's stock valued at $67,000 after purchasing an additional 1,136 shares during the period. Finally, KBC Group NV raised its position in O-I Glass by 38.9% during the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company's stock valued at $71,000 after purchasing an additional 1,521 shares during the last quarter. Institutional investors own 97.24% of the company's stock.
O-I Glass Stock Up 2.3 %
OI traded up $0.29 during midday trading on Thursday, reaching $12.85. The company's stock had a trading volume of 1,031,239 shares, compared to its average volume of 1,681,698. O-I Glass, Inc. has a 1 year low of $10.08 and a 1 year high of $17.58. The stock's 50-day moving average is $12.70 and its 200-day moving average is $12.24. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -4.66 and a beta of 1.20. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18.
O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The business's quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.80 EPS. As a group, research analysts expect that O-I Glass, Inc. will post 0.76 EPS for the current year.
Analysts Set New Price Targets
OI has been the topic of a number of recent analyst reports. Citigroup lifted their price objective on O-I Glass from $14.00 to $15.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Bank of America upgraded shares of O-I Glass from a "neutral" rating to a "buy" rating and lifted their price target for the company from $14.00 to $16.00 in a report on Thursday, October 17th. StockNews.com upgraded shares of O-I Glass from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Barclays cut their target price on shares of O-I Glass from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 31st. Finally, Royal Bank of Canada decreased their price target on shares of O-I Glass from $18.00 to $16.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $16.25.
View Our Latest Research Report on O-I Glass
About O-I Glass
(
Free Report)
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.
See Also
Before you consider O-I Glass, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and O-I Glass wasn't on the list.
While O-I Glass currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
