O-I Glass, Inc. $OI is Highland Peak Capital LLC’s 2nd Largest Position

Highland Peak Capital LLC raised its stake in O-I Glass, Inc. (NYSE:OI) by 22.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,113,780 shares of the industrial products company’s stock after acquiring an additional 566,703 shares during the period. O-I Glass makes up 13.3% of Highland Peak Capital LLC’s portfolio, making the stock its 2nd largest holding. Highland Peak Capital LLC owned approximately 2.03% of O-I Glass worth $40,386,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in OI. Envestnet Asset Management Inc. bought a new position in O-I Glass during the third quarter valued at approximately $1,526,000. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in O-I Glass in the 3rd quarter worth approximately $18,496,000. Castleark Management LLC purchased a new stake in shares of O-I Glass during the 2nd quarter worth approximately $4,942,000. Knights of Columbus Asset Advisors LLC boosted its position in shares of O-I Glass by 91.6% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 172,773 shares of the industrial products company’s stock valued at $2,241,000 after acquiring an additional 82,619 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of O-I Glass in the third quarter valued at $908,000. Institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Performance

Shares of NYSE:OI opened at $12.42 on Thursday. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -14.79, a PEG ratio of 0.58 and a beta of 0.82. O-I Glass, Inc. has a 12 month low of $9.23 and a 12 month high of $16.91. The firm’s 50-day moving average is $15.09 and its 200 day moving average is $13.77. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 3.35.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.52 billion. O-I Glass had a negative net margin of 2.01% and a positive return on equity of 18.07%. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.05) earnings per share. Research analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Citigroup decreased their price target on shares of O-I Glass from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, February 12th. UBS Group restated a “buy” rating and issued a $21.00 target price on shares of O-I Glass in a report on Thursday, February 12th. Royal Bank Of Canada lowered their price target on shares of O-I Glass from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Zacks Research cut O-I Glass from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and upped their price objective for the company from $14.00 to $17.00 in a research report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.11.

O-I Glass Company 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.