Cubist Systematic Strategies LLC Takes $107,000 Position in O-I Glass, Inc. (NYSE:OI)

Cubist Systematic Strategies LLC bought a new position in O-I Glass, Inc. (NYSE:OI) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 9,841 shares of the industrial products company’s stock, valued at approximately $107,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of O-I Glass by 2.2% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 42,900 shares of the industrial products company’s stock worth $465,000 after buying an additional 916 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of O-I Glass by 9.6% in the fourth quarter. Baird Financial Group Inc. now owns 16,152 shares of the industrial products company’s stock worth $175,000 after buying an additional 1,410 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of O-I Glass by 13.4% in the fourth quarter. Corient Private Wealth LLC now owns 16,544 shares of the industrial products company’s stock worth $179,000 after buying an additional 1,954 shares during the period. Guggenheim Capital LLC boosted its holdings in shares of O-I Glass by 9.9% during the fourth quarter. Guggenheim Capital LLC now owns 22,777 shares of the industrial products company’s stock worth $247,000 after purchasing an additional 2,044 shares during the period. Finally, KBC Group NV boosted its holdings in shares of O-I Glass by 42.5% during the fourth quarter. KBC Group NV now owns 7,740 shares of the industrial products company’s stock worth $84,000 after purchasing an additional 2,309 shares during the period. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on OI shares. Barclays raised their price target on shares of O-I Glass from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Citigroup raised their price target on shares of O-I Glass from $11.00 to $14.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Royal Bank of Canada restated an “outperform” rating and set a $16.00 price target on shares of O-I Glass in a report on Monday, March 17th. Finally, Truist Financial restated a “buy” rating and set a $16.00 price target (up from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.88.

O-I Glass Price Performance

Shares of OI opened at $13.29 on Monday. The firm has a market cap of $2.06 billion, a PE ratio of -18.72, a PEG ratio of 0.24 and a beta of 0.93. The firm’s 50 day moving average price is $11.82 and its 200 day moving average price is $11.61. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. O-I Glass, Inc. has a twelve month low of $9.23 and a twelve month high of $14.34.

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

O-I Glass Company Profile

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.