Luminus Management LLC Has $18.11 Million Holdings in O-I Glass, Inc. (NYSE:OI)

Luminus Management LLC reduced its position in shares of O-I Glass, Inc. (NYSE:OI) by 46.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,670,634 shares of the industrial products company’s stock after selling 1,447,419 shares during the quarter. O-I Glass accounts for approximately 20.9% of Luminus Management LLC’s holdings, making the stock its 2nd biggest position. Luminus Management LLC owned about 1.08% of O-I Glass worth $18,110,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in OI. Cooper Creek Partners Management LLC grew its stake in shares of O-I Glass by 18.2% during the 4th quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company’s stock valued at $120,132,000 after acquiring an additional 1,705,216 shares during the period. FMR LLC grew its stake in shares of O-I Glass by 6.9% during the 4th quarter. FMR LLC now owns 10,054,398 shares of the industrial products company’s stock valued at $108,990,000 after acquiring an additional 647,237 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of O-I Glass by 9.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,449,472 shares of the industrial products company’s stock valued at $80,749,000 after acquiring an additional 617,460 shares during the period. Highland Peak Capital LLC grew its stake in shares of O-I Glass by 87.5% during the 4th quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company’s stock valued at $42,029,000 after acquiring an additional 1,809,237 shares during the period. Finally, Segall Bryant & Hamill LLC grew its stake in shares of O-I Glass by 31.5% during the 4th quarter. Segall Bryant & Hamill LLC now owns 3,242,750 shares of the industrial products company’s stock valued at $35,151,000 after acquiring an additional 777,036 shares during the period. 97.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $16.00 price target on shares of O-I Glass in a research note on Monday, March 17th. Truist Financial restated a “buy” rating and issued a $16.00 price target (up from $13.00) on shares of O-I Glass in a research note on Thursday, May 1st. Barclays upped their price target on O-I Glass from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Finally, Citigroup upped their price target on O-I Glass from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, O-I Glass presently has an average rating of “Moderate Buy” and a consensus target price of $15.88.

O-I Glass Stock Up 2.6%

NYSE OI opened at $13.43 on Monday. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. The company has a market capitalization of $2.08 billion, a P/E ratio of -18.92, a P/E/G ratio of 0.24 and a beta of 0.93. O-I Glass, Inc. has a one year low of $9.23 and a one year high of $14.15. The stock has a 50 day moving average price of $11.62 and a 200-day moving average price of $11.55.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.22. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.55 billion. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS. As a group, equities analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

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.