AXQ Capital LP Boosts Stake in O-I Glass, Inc. $OI

AXQ Capital LP boosted its position in shares of O-I Glass, Inc. (NYSE:OI) by 33.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,322 shares of the industrial products company’s stock after buying an additional 5,910 shares during the period. AXQ Capital LP’s holdings in O-I Glass were worth $344,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of O-I Glass by 623.9% during the 1st quarter. CWM LLC now owns 8,390 shares of the industrial products company’s stock worth $96,000 after acquiring an additional 7,231 shares in the last quarter. Victory Capital Management Inc. increased its position in O-I Glass by 148.1% in the first quarter. Victory Capital Management Inc. now owns 345,667 shares of the industrial products company’s stock worth $3,965,000 after purchasing an additional 206,365 shares during the last quarter. Allianz Asset Management GmbH raised its stake in O-I Glass by 16.0% during the first quarter. Allianz Asset Management GmbH now owns 132,222 shares of the industrial products company’s stock valued at $1,517,000 after purchasing an additional 18,268 shares in the last quarter. Cetera Investment Advisers purchased a new stake in O-I Glass during the first quarter valued at $211,000. Finally, XTX Topco Ltd bought a new position in O-I Glass during the first quarter valued at $554,000. Institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Performance

OI stock opened at $12.65 on Tuesday. O-I Glass, Inc. has a twelve month low of $9.23 and a twelve month high of $16.04. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -7.66, a PEG ratio of 0.22 and a beta of 0.89. The business’s fifty day simple moving average is $12.54 and its two-hundred day simple moving average is $13.33. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 3.58.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Wednesday, March 1st. The industrial products company reported $0.36 EPS for the quarter. The firm had revenue of $1.59 billion for the quarter. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. Analysts predict that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of O-I Glass in a report on Wednesday, October 8th. Zacks Research lowered O-I Glass from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Wells Fargo & Company boosted their price objective on O-I Glass from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 6th. Truist Financial lowered their price objective on O-I Glass from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Finally, Wall Street Zen upgraded O-I Glass from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.67.

About O-I Glass

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.