372,787 Shares in O-I Glass, Inc. $OI Purchased by Cinctive Capital Management LP

Cinctive Capital Management LP acquired a new stake in O-I Glass, Inc. (NYSE:OI) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 372,787 shares of the industrial products company’s stock, valued at approximately $4,835,000. Cinctive Capital Management LP owned approximately 0.24% of O-I Glass at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Bank of America Corp DE grew its stake in shares of O-I Glass by 18.7% during the third quarter. Bank of America Corp DE now owns 2,618,748 shares of the industrial products company’s stock valued at $33,965,000 after purchasing an additional 412,497 shares during the last quarter. Boothbay Fund Management LLC increased its holdings in shares of O-I Glass by 22.1% in the third quarter. Boothbay Fund Management LLC now owns 803,029 shares of the industrial products company’s stock valued at $10,415,000 after purchasing an additional 145,170 shares in the last quarter. Algert Global LLC raised its position in O-I Glass by 247.5% in the 3rd quarter. Algert Global LLC now owns 546,978 shares of the industrial products company’s stock worth $7,094,000 after purchasing an additional 389,578 shares during the last quarter. Alliancebernstein L.P. raised its position in O-I Glass by 0.7% in the 3rd quarter. Alliancebernstein L.P. now owns 7,996,786 shares of the industrial products company’s stock worth $103,718,000 after purchasing an additional 56,945 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in O-I Glass during the 3rd quarter worth $333,000. 97.24% of the stock is owned by institutional investors.

O-I Glass Price Performance

OI opened at $10.62 on Monday. The stock has a market cap of $1.62 billion, a P/E ratio of -12.64, a P/E/G ratio of 0.50 and a beta of 0.82. O-I Glass, Inc. has a 12 month low of $9.23 and a 12 month high of $16.91. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 3.35. The company has a fifty day simple moving average of $14.59 and a 200 day simple moving average of $13.69.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. O-I Glass had a positive return on equity of 18.07% and a negative net margin of 2.01%.The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the company posted ($0.05) earnings per share. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, research analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current year.

Wall Street Analyst Weigh In

OI has been the subject of several research reports. Wall Street Zen cut O-I Glass from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and upped their price target for the company from $14.00 to $17.00 in a research note on Monday, November 17th. Robert W. Baird set a $20.00 price target on O-I Glass in a report on Thursday, February 12th. UBS Group reiterated a “buy” rating and issued a $21.00 price objective on shares of O-I Glass in a research report on Thursday, February 12th. Finally, Royal Bank Of Canada cut their target price on shares of O-I Glass from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, O-I Glass presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.11.

O-I Glass Company 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.