Cinctive Capital Management LP cut its stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 28.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 498,296 shares of the industrial products company's stock after selling 194,216 shares during the period. Cinctive Capital Management LP owned 0.32% of O-I Glass worth $5,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of OI. JPMorgan Chase & Co. increased its stake in shares of O-I Glass by 18.0% during the third quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company's stock valued at $8,130,000 after buying an additional 94,671 shares during the period. Victory Capital Management Inc. lifted its position in shares of O-I Glass by 57.1% in the 4th quarter. Victory Capital Management Inc. now owns 139,302 shares of the industrial products company's stock worth $1,510,000 after purchasing an additional 50,641 shares during the period. Barclays PLC boosted its stake in shares of O-I Glass by 349.3% during the third quarter. Barclays PLC now owns 261,161 shares of the industrial products company's stock valued at $3,427,000 after purchasing an additional 203,037 shares in the last quarter. Amundi raised its stake in O-I Glass by 212.9% in the fourth quarter. Amundi now owns 95,302 shares of the industrial products company's stock worth $996,000 after buying an additional 64,844 shares in the last quarter. Finally, Highland Peak Capital LLC lifted its holdings in O-I Glass by 87.5% during the fourth quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company's stock worth $42,029,000 after buying an additional 1,809,237 shares during the period. 97.24% of the stock is owned by institutional investors.
O-I Glass Stock Performance
Shares of NYSE OI traded up $0.03 during midday trading on Tuesday, reaching $10.32. The company had a trading volume of 656,595 shares, compared to its average volume of 1,592,526. The stock has a market cap of $1.60 billion, a P/E ratio of -14.57, a P/E/G ratio of 0.24 and a beta of 0.98. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78. O-I Glass, Inc. has a 1 year low of $9.78 and a 1 year high of $16.19. The business's 50-day simple moving average is $11.57 and its 200 day simple moving average is $11.78.
O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.02. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. On average, analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research analysts have recently commented on OI shares. Royal Bank of Canada reissued an "outperform" rating and issued a $16.00 price target on shares of O-I Glass in a research report on Monday, March 17th. Bank of America raised their price target on shares of O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a report on Monday, January 6th. Wells Fargo & Company reduced 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 note on Monday, January 6th. Finally, 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $15.38.
Get Our Latest Research Report on OI
O-I Glass Company Profile
(
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.
Read More
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
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Spring 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
