Advisors Preferred LLC Acquires 53,101 Shares of O-I Glass, Inc. $OI

Advisors Preferred LLC raised its stake in shares of O-I Glass, Inc. (NYSE:OI) by 141.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 90,708 shares of the industrial products company’s stock after acquiring an additional 53,101 shares during the period. Advisors Preferred LLC owned approximately 0.06% of O-I Glass worth $1,176,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Headlands Technologies LLC bought a new position in O-I Glass during the second quarter valued at approximately $29,000. State of Wyoming purchased a new stake in O-I Glass during the 2nd quarter valued at $35,000. Smartleaf Asset Management LLC lifted its holdings in shares of O-I Glass by 64.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock valued at $35,000 after buying an additional 918 shares during the period. Neo Ivy Capital Management bought a new position in shares of O-I Glass during the 2nd quarter valued at $51,000. Finally, Osaic Holdings Inc. boosted its stake in shares of O-I Glass by 29.7% in the 2nd quarter. Osaic Holdings Inc. now owns 6,779 shares of the industrial products company’s stock worth $100,000 after buying an additional 1,554 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on OI shares. Citigroup reduced their price objective on O-I Glass from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, February 12th. Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and boosted their price target for the company from $14.00 to $17.00 in a research note on Monday, November 17th. UBS Group reiterated a “buy” rating and issued a $21.00 price objective on shares of O-I Glass in a research note on Thursday, February 12th. Wells Fargo & Company raised shares of O-I Glass from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $15.00 to $18.00 in a report on Tuesday, January 6th. Finally, Robert W. Baird set a $20.00 target price on shares of O-I Glass in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, O-I Glass presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.22.

O-I Glass Trading Up 1.4%

Shares of NYSE:OI opened at $15.37 on Friday. The stock has a 50 day moving average of $15.34 and a 200 day moving average of $13.77. The company has a market cap of $2.34 billion, a PE ratio of -18.29, a price-to-earnings-growth ratio of 0.70 and a beta of 0.78. O-I Glass, Inc. has a 12-month low of $9.23 and a 12-month high of $16.91. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 3.35.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, February 10th. The industrial products company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. O-I Glass had a negative net margin of 2.01% and a positive return on equity of 18.07%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the business earned ($0.05) EPS. The firm’s revenue was down 1.9% compared to the same quarter last year. As a group, equities research analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current year.

O-I Glass Profile

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.