Bryce Point Capital LLC Takes $1.43 Million Position in O-I Glass, Inc. (NYSE:OI)

Bryce Point Capital LLC acquired a new position in shares of O-I Glass, Inc. (NYSE:OI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 132,103 shares of the industrial products company’s stock, valued at approximately $1,432,000. Bryce Point Capital LLC owned about 0.09% of O-I Glass as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp grew its stake 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 acquiring an additional 916 shares during the last quarter. Corient Private Wealth LLC increased its holdings in shares of O-I Glass by 13.4% during the 4th quarter. Corient Private Wealth LLC now owns 16,544 shares of the industrial products company’s stock worth $179,000 after purchasing an additional 1,954 shares during the period. KBC Group NV raised its position 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 valued at $84,000 after buying an additional 2,309 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of O-I Glass by 3.7% in the fourth quarter. Illinois Municipal Retirement Fund now owns 89,224 shares of the industrial products company’s stock valued at $967,000 after buying an additional 3,207 shares during the period. Finally, Rhumbline Advisers grew its position in O-I Glass by 0.8% during the fourth quarter. Rhumbline Advisers now owns 485,732 shares of the industrial products company’s stock worth $5,265,000 after buying an additional 3,980 shares in the last quarter. 97.24% of the stock is owned by institutional investors.

O-I Glass Stock Up 1.5 %

Shares of NYSE OI opened at $11.65 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -16.40, a price-to-earnings-growth ratio of 0.24 and a beta of 1.20. O-I Glass, Inc. has a 12-month low of $9.85 and a 12-month high of $17.58. The firm’s 50-day simple moving average is $11.57 and its 200 day simple moving average is $11.85.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. On average, research analysts expect that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OI has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $16.00 price objective on shares of O-I Glass in a research report on Monday, March 17th. Citigroup lowered their price target on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Bank of America raised their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company lowered their target price on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $15.38.

O-I Glass 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.