Arrowstreet Capital Limited Partnership Acquires 496,831 Shares of O-I Glass, Inc. $OI

Arrowstreet Capital Limited Partnership lifted its holdings in O-I Glass, Inc. (NYSE:OI) by 369.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 631,128 shares of the industrial products company’s stock after acquiring an additional 496,831 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in O-I Glass were worth $9,303,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of OI. Cetera Investment Advisers acquired a new position in shares of O-I Glass during the 1st quarter worth approximately $211,000. Natixis Advisors LLC boosted its stake in shares of O-I Glass by 60.3% in the first quarter. Natixis Advisors LLC now owns 41,382 shares of the industrial products company’s stock valued at $475,000 after buying an additional 15,570 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of O-I Glass by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 52,337 shares of the industrial products company’s stock valued at $600,000 after buying an additional 2,104 shares during the period. Charles Schwab Investment Management Inc. grew its position in O-I Glass by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,992,887 shares of the industrial products company’s stock worth $22,858,000 after buying an additional 144,030 shares in the last quarter. Finally, Nuveen LLC bought a new position in O-I Glass during the 1st quarter worth $10,738,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on OI. Truist Financial reduced their target price on O-I Glass from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Wells Fargo & Company upped their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Zacks Research lowered shares of O-I Glass from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Wall Street Zen upgraded shares of O-I Glass from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Bank of America upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $17.00 in a research report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.67.

O-I Glass Stock Up 0.3%

Shares of NYSE:OI opened at $14.18 on Wednesday. O-I Glass, Inc. has a 52-week low of $9.23 and a 52-week high of $16.04. The company has a market capitalization of $2.18 billion, a PE ratio of -15.08, a price-to-earnings-growth ratio of 0.22 and a beta of 0.78. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.84 and a current ratio of 1.33. The company has a fifty day moving average of $12.70 and a 200-day moving average of $13.34.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Wednesday, March 1st. The industrial products company reported $0.36 earnings per share for the quarter. O-I Glass had a positive return on equity of 16.02% and a negative net margin of 2.26%.The business had revenue of $1.59 billion for the quarter. On average, equities analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current fiscal 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.