Semanteon Capital Management LP Makes New Investment in O-I Glass, Inc. (NYSE:OI)

Semanteon Capital Management LP bought a new position in O-I Glass, Inc. (NYSE:OI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 72,720 shares of the industrial products company’s stock, valued at approximately $1,191,000.

Other hedge funds also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D boosted its stake in shares of O-I Glass by 35.7% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 170,471 shares of the industrial products company’s stock worth $2,792,000 after acquiring an additional 44,861 shares in the last quarter. Bailard Inc. bought a new stake in shares of O-I Glass during the 4th quarter worth about $668,000. Private Management Group Inc. boosted its stake in shares of O-I Glass by 0.7% during the 4th quarter. Private Management Group Inc. now owns 2,051,886 shares of the industrial products company’s stock worth $33,610,000 after acquiring an additional 14,018 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of O-I Glass by 40.0% during the 4th quarter. Wedge Capital Management L L P NC now owns 45,064 shares of the industrial products company’s stock worth $738,000 after acquiring an additional 12,871 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of O-I Glass by 193.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 87,798 shares of the industrial products company’s stock worth $1,438,000 after acquiring an additional 57,867 shares in the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.

O-I Glass Price Performance

Shares of O-I Glass stock traded down $0.04 during midday trading on Thursday, hitting $14.85. 1,102,094 shares of the company were exchanged, compared to its average volume of 1,659,690. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.23 and a quick ratio of 0.77. The firm has a market cap of $2.31 billion, a P/E ratio of -19.80, a PEG ratio of 1.04 and a beta of 1.35. O-I Glass, Inc. has a 52 week low of $13.56 and a 52 week high of $23.57. The firm has a 50 day simple moving average of $16.06 and a 200-day simple moving average of $15.62.

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

Wall Street Analyst Weigh In

OI has been the subject of several recent analyst reports. StockNews.com downgraded O-I Glass from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Bank of America restated a “neutral” rating and set a $16.00 target price (down previously from $21.00) on shares of O-I Glass in a research note on Friday, April 19th. UBS Group initiated coverage on O-I Glass in a research note on Tuesday, January 16th. They set a “buy” rating and a $26.00 target price for the company. Citigroup downgraded O-I Glass from a “buy” rating to a “neutral” rating and increased their target price for the company from $17.00 to $18.00 in a research note on Wednesday, January 3rd. Finally, Truist Financial restated a “buy” rating and set a $20.00 target price on shares of O-I Glass in a research note on Monday, March 25th. 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, O-I Glass currently has a consensus rating of “Hold” and a consensus price target of $22.67.

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.