O-I Glass, Inc. $OI Shares Bought by Boothbay Fund Management LLC

Boothbay Fund Management LLC lifted its position in O-I Glass, Inc. (NYSE:OI) by 22.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 803,029 shares of the industrial products company’s stock after buying an additional 145,170 shares during the period. Boothbay Fund Management LLC owned approximately 0.52% of O-I Glass worth $10,415,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of OI. Headlands Technologies LLC acquired a new position in O-I Glass during the second quarter worth about $29,000. State of Wyoming bought a new stake in O-I Glass in the second quarter worth about $35,000. Smartleaf Asset Management LLC lifted its holdings in O-I Glass by 64.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 918 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of O-I Glass during the 2nd quarter valued at about $51,000. Finally, Johnson Financial Group Inc. bought a new position in shares of O-I Glass during the 3rd quarter valued at about $85,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Stock Performance

OI stock opened at $10.62 on Friday. The firm has a 50 day simple moving average of $14.59 and a 200 day simple moving average of $13.69. O-I Glass, Inc. has a 52 week low of $9.23 and a 52 week high of $16.91. The stock has a market cap of $1.62 billion, a P/E ratio of -12.64, a P/E/G ratio of 0.49 and a beta of 0.82. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.77 and a current ratio of 1.25.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the business earned ($0.05) EPS. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. Research analysts anticipate that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Royal Bank Of Canada dropped 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 report on Thursday, February 26th. Wells Fargo & Company upgraded shares of O-I Glass from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $15.00 to $18.00 in a research report on Tuesday, January 6th. UBS Group reaffirmed a “buy” rating and issued a $21.00 price target on shares of O-I Glass in a report on Thursday, February 12th. Zacks Research downgraded O-I Glass from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 3rd. Finally, Wall Street Zen lowered O-I Glass from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.11.

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.