Leeward Investments LLC MA Cuts Stock Holdings in O-I Glass, Inc. (NYSE:OI)

Leeward Investments LLC MA decreased its stake in shares of O-I Glass, Inc. (NYSE:OI) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 458,026 shares of the industrial products company’s stock after selling 3,589 shares during the period. Leeward Investments LLC MA’s holdings in O-I Glass were worth $7,502,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of OI. Covestor Ltd grew its stake in O-I Glass by 259.7% in the 3rd quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 1,205 shares during the period. Signaturefd LLC bought a new position in O-I Glass in the 3rd quarter valued at $62,000. International Assets Investment Management LLC grew its stake in O-I Glass by 1,538.0% in the 4th quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 3,845 shares during the period. National Bank of Canada FI grew its stake in O-I Glass by 23.8% in the 3rd quarter. National Bank of Canada FI now owns 10,405 shares of the industrial products company’s stock valued at $171,000 after purchasing an additional 2,000 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in O-I Glass by 29.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,289 shares of the industrial products company’s stock valued at $172,000 after purchasing an additional 2,365 shares during the period. Hedge funds and other institutional investors own 97.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OI. TheStreet downgraded O-I Glass from a “b-” rating to a “c-” rating in a research note on Tuesday, February 6th. Truist Financial restated a “buy” rating and issued a $20.00 price objective on shares of O-I Glass in a research note on Monday, March 25th. Citigroup downgraded O-I Glass from a “buy” rating to a “neutral” rating and increased their price target for the stock from $17.00 to $18.00 in a research note on Wednesday, January 3rd. Bank of America reiterated a “neutral” rating and set a $16.00 price target (down previously from $21.00) on shares of O-I Glass in a research note on Friday, April 19th. Finally, StockNews.com downgraded O-I Glass from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $22.67.

O-I Glass Price Performance

OI traded up $0.21 during trading on Friday, reaching $15.07. 1,097,285 shares of the company were exchanged, compared to its average volume of 1,652,745. The company’s 50-day moving average is $16.02 and its two-hundred day moving average is $15.61. The company has a market cap of $2.35 billion, a price-to-earnings ratio of -20.09, a P/E/G ratio of 1.04 and a beta of 1.35. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 2.69. O-I Glass, Inc. has a 12-month low of $13.56 and a 12-month high of $23.57.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 EPS. Research analysts forecast that O-I Glass, Inc. will post 2.33 earnings per share 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.