O-I Glass, Inc. (NYSE:OI) Holdings Cut by Wolf Hill Capital Management LP

Wolf Hill Capital Management LP lessened its position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 58.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 247,862 shares of the industrial products company's stock after selling 343,724 shares during the period. Wolf Hill Capital Management LP owned approximately 0.16% of O-I Glass worth $2,687,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OI. Cooper Creek Partners Management LLC lifted its holdings in shares of O-I Glass by 18.2% during the 4th quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company's stock valued at $120,132,000 after acquiring an additional 1,705,216 shares in the last quarter. FMR LLC raised its position in O-I Glass by 6.9% in the fourth quarter. FMR LLC now owns 10,054,398 shares of the industrial products company's stock valued at $108,990,000 after purchasing an additional 647,237 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of O-I Glass by 9.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,449,472 shares of the industrial products company's stock worth $80,749,000 after purchasing an additional 617,460 shares in the last quarter. Highland Peak Capital LLC boosted its position in shares of O-I Glass by 87.5% in 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. Finally, Geode Capital Management LLC grew its stake in shares of O-I Glass by 1.1% in the third quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company's stock valued at $46,827,000 after buying an additional 37,238 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

OI has been the topic of several recent research reports. Bank of America boosted their price target on O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Wells Fargo & Company reduced their target price on shares of O-I Glass from $18.00 to $16.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Citigroup decreased 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. Truist Financial dropped their price target on shares of O-I Glass from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, 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. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.00.

O-I Glass Stock Performance

OI stock remained flat at $11.93 during mid-day trading on Friday. 1,412,030 shares of the company's stock traded hands, compared to its average volume of 1,608,817. The stock's fifty day moving average is $11.30 and its two-hundred day moving average is $11.56. The firm has a market cap of $1.85 billion, a P/E ratio of -16.80, a PEG ratio of 0.24 and a beta of 0.98. O-I Glass, Inc. has a 52 week low of $9.23 and a 52 week high of $15.72. The company has a debt-to-equity ratio of 3.78, a current ratio of 1.15 and a quick ratio of 0.70.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly 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 positive return on equity of 8.27% and a negative net margin of 1.62%. As a group, sell-side analysts anticipate that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

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.