305,000 Shares in O-I Glass, Inc. $OI Bought by JB Capital Partners LP

JB Capital Partners LP purchased a new position in shares of O-I Glass, Inc. (NYSE:OI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 305,000 shares of the industrial products company’s stock, valued at approximately $2,937,150,000. JB Capital Partners LP owned approximately 0.20% of O-I Glass at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Edmond DE Rothschild Holding S.A. bought a new position in shares of O-I Glass during the 2nd quarter worth about $19,260,000. DCF Advisers LLC bought a new stake in O-I Glass in the second quarter valued at about $578,000. BlackRock Inc. bought a new stake in O-I Glass in the second quarter valued at about $225,727,000. Deutsche Bank AG acquired a new position in O-I Glass in the second quarter worth about $1,677,000. Finally, Global Retirement Partners LLC acquired a new position in O-I Glass in the second quarter worth about $44,000. Institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Up 11.9%

Shares of OI opened at $7.14 on Friday. The company has a market capitalization of $1.10 billion, a P/E ratio of -0.95, a PEG ratio of 2.07 and a beta of 0.66. The company has a debt-to-equity ratio of 8.89, a current ratio of 1.26 and a quick ratio of 0.77. O-I Glass, Inc. has a one year low of $6.29 and a one year high of $16.91. The business’s 50 day simple moving average is $8.50 and its 200-day simple moving average is $10.16.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on OI shares. UBS Group lowered their price objective on O-I Glass from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Weiss Ratings upgraded O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 14th. Royal Bank Of Canada lowered O-I Glass from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $10.00 to $8.00 in a research note on Thursday, August 13th. BNP Paribas Exane cut O-I Glass from an “outperform” rating to a “neutral” rating and set a $8.50 price target on the stock. in a research report on Thursday, July 30th. Finally, Wells Fargo & Company dropped their price objective on 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. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.31.

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.