O-I Glass, Inc. (NYSE:OI) Stock Holdings Increased by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in O-I Glass, Inc. (NYSE:OI - Free Report) by 19.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 296,900 shares of the industrial products company's stock after purchasing an additional 48,023 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.19% of O-I Glass worth $3,895,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in OI. Levin Capital Strategies L.P. boosted its holdings in O-I Glass by 66.0% in the first quarter. Levin Capital Strategies L.P. now owns 2,808,105 shares of the industrial products company's stock worth $46,586,000 after purchasing an additional 1,116,340 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new position in shares of O-I Glass during the first quarter valued at $14,603,000. Dimensional Fund Advisors LP grew its position in shares of O-I Glass by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company's stock worth $78,952,000 after acquiring an additional 573,300 shares during the last quarter. Private Management Group Inc. grew its position in shares of O-I Glass by 21.3% during the second quarter. Private Management Group Inc. now owns 2,505,279 shares of the industrial products company's stock worth $27,884,000 after acquiring an additional 439,838 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of O-I Glass by 27.5% during the second quarter. Millennium Management LLC now owns 1,965,426 shares of the industrial products company's stock worth $21,875,000 after acquiring an additional 424,102 shares during the last quarter. Institutional investors and hedge funds own 97.24% of the company's stock.

O-I Glass Price Performance

NYSE OI traded up $0.36 on Thursday, reaching $13.09. The company's stock had a trading volume of 1,019,293 shares, compared to its average volume of 1,692,753. 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 2.85, a quick ratio of 0.75 and a current ratio of 1.26. The stock has a market cap of $2.04 billion, a PE ratio of -8.18, a PEG ratio of 1.88 and a beta of 1.17. The firm's 50 day moving average is $12.60 and its two-hundred day moving average is $12.73.

O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. O-I Glass had a negative net margin of 4.32% and a positive return on equity of 15.64%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the company earned $0.88 EPS. O-I Glass's revenue was down 8.5% on a year-over-year basis. As a group, sell-side analysts predict that O-I Glass, Inc. will post 1.13 EPS for the current year.

Insider Buying and Selling at O-I Glass

In other news, Director John Humphrey acquired 15,000 shares of O-I Glass stock in a transaction on Tuesday, August 6th. The stock was bought at an average cost of $11.30 per share, with a total value of $169,500.00. Following the completion of the purchase, the director now owns 84,227 shares of the company's stock, valued at $951,765.10. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.49% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on OI shares. Robert W. Baird lowered their price target on shares of O-I Glass from $22.00 to $18.00 and set an "outperform" rating for the company in a research report on Thursday, August 1st. Truist Financial restated a "buy" rating and set a $16.00 price target (down previously from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. Royal Bank of Canada decreased their target price on shares of O-I Glass from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Monday, August 5th. Wells Fargo & Company decreased their target price on shares of O-I Glass from $19.00 to $18.00 and set an "overweight" rating for the company in a research report on Wednesday, July 17th. Finally, Bank of America upgraded shares of O-I Glass from a "neutral" rating to a "buy" rating and increased their target price for the company from $14.00 to $16.00 in a research report on Thursday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $16.63.

O-I Glass 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.