JB Capital Partners LP Acquires New Stake in O-I Glass, Inc. $OI

JB Capital Partners LP acquired a new stake in shares of O-I Glass, Inc. (NYSE:OI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 305,000 shares of the industrial products company’s stock, valued at approximately $2,937,150. JB Capital Partners LP owned approximately 0.20% of O-I Glass as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of OI. Farther Finance Advisors LLC lifted its position in shares of O-I Glass by 87.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock worth $26,000 after buying an additional 830 shares during the period. Headlands Technologies LLC acquired a new stake in shares of O-I Glass in the 2nd quarter worth about $29,000. Quarry LP purchased a new position in shares of O-I Glass in the fourth quarter worth about $32,000. Caitong International Asset Management Co. Ltd increased its position in shares of O-I Glass by 36,533.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 2,192 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of O-I Glass during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Trading Up 2.8%

Shares of OI stock traded up $0.20 during mid-day trading on Friday, reaching $7.41. The stock had a trading volume of 1,672,887 shares, compared to its average volume of 2,693,491. O-I Glass, Inc. has a 52-week low of $6.29 and a 52-week high of $16.91. The stock’s 50-day moving average price is $8.36 and its two-hundred day moving average price is $9.87. The firm has a market capitalization of $1.14 billion, a PE ratio of -0.99, a price-to-earnings-growth ratio of 2.41 and a beta of 0.66. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 8.89.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.15). The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.68 billion. O-I Glass had a negative net margin of 18.13% and a positive return on equity of 10.40%. O-I Glass’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 EPS. Equities analysts expect that O-I Glass, Inc. will post 0.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Royal Bank Of Canada lowered O-I Glass from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $10.00 to $8.00 in a research report on Thursday, August 13th. Zacks Research raised shares of O-I Glass from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings upgraded shares of O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. Wells Fargo & Company cut their target price on shares of O-I Glass from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Finally, Citigroup upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $8.00 to $9.00 in a research note on Friday, August 21st. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, O-I Glass currently has an average rating of “Hold” and an average price target of $10.31.

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.