167,295 Shares in O-I Glass, Inc. $OI Purchased by Permanent Capital Management LP

Permanent Capital Management LP acquired a new position in shares of O-I Glass, Inc. (NYSE:OI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 167,295 shares of the industrial products company’s stock, valued at approximately $2,170,000. Permanent Capital Management LP owned approximately 0.11% of O-I Glass at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Alliancebernstein L.P. lifted its holdings in shares of O-I Glass by 194.6% during the second quarter. Alliancebernstein L.P. now owns 7,939,841 shares of the industrial products company’s stock valued at $117,033,000 after purchasing an additional 5,244,440 shares during the last quarter. Bank of America Corp DE increased its position in O-I Glass by 222.6% during the 2nd quarter. Bank of America Corp DE now owns 2,206,251 shares of the industrial products company’s stock valued at $32,520,000 after buying an additional 1,522,384 shares in the last quarter. Assenagon Asset Management S.A. increased its position in O-I Glass by 181.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,249,473 shares of the industrial products company’s stock valued at $16,206,000 after buying an additional 806,059 shares in the last quarter. JPMorgan Chase & Co. raised its stake in O-I Glass by 123.8% during the second quarter. JPMorgan Chase & Co. now owns 1,145,980 shares of the industrial products company’s stock valued at $16,892,000 after buying an additional 633,875 shares during the last quarter. Finally, Hawk Ridge Capital Management LP bought a new stake in O-I Glass in the first quarter worth $7,085,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Down 0.2%

Shares of O-I Glass stock opened at $14.94 on Monday. O-I Glass, Inc. has a twelve month low of $9.23 and a twelve month high of $16.04. The company has a quick ratio of 0.84, a current ratio of 1.33 and a debt-to-equity ratio of 3.36. The company’s 50 day moving average is $13.43 and its 200 day moving average is $13.50. The company has a market cap of $2.29 billion, a price-to-earnings ratio of -15.89, a price-to-earnings-growth ratio of 0.23 and a beta of 0.78.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on OI. Zacks Research downgraded O-I Glass from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of O-I Glass in a research report on Wednesday, October 8th. Truist Financial reduced their price objective on shares of 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. Wells Fargo & Company upped their target price on shares of 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. Finally, Wall Street Zen cut shares of O-I Glass from a “strong-buy” rating to a “buy” rating in a report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.67.

About O-I Glass

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.