JB Capital Partners LP Invests $2.94 Billion in O-I Glass, Inc. $OI

JB Capital Partners LP purchased a new stake in O-I Glass, Inc. (NYSE:OI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 305,000 shares of the industrial products company’s stock, valued at approximately $2,937,150,000.

Several other institutional investors have also recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its position in O-I Glass by 87.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock valued at $26,000 after buying an additional 830 shares during the last quarter. Optiver Holding B.V. raised its position in shares of O-I Glass by 491.5% during the first quarter. Optiver Holding B.V. now owns 2,496 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 2,074 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of O-I Glass during the second quarter valued at $29,000. Quarry LP acquired a new position in shares of O-I Glass during the fourth quarter valued at $32,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in O-I Glass by 36,533.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 2,192 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Trading Up 11.9%

NYSE OI opened at $7.14 on Friday. O-I Glass, Inc. has a 12 month low of $6.29 and a 12 month high of $16.91. The stock has a 50-day simple moving average of $8.50 and a 200 day simple moving average of $10.16. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 8.89. The company has a market capitalization of $1.10 billion, a PE ratio of -0.95, a P/E/G ratio of 2.07 and a beta of 0.66.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.15). The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.68 billion. O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%.O-I Glass’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. Research analysts forecast that O-I Glass, Inc. will post 0.42 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Truist Financial lowered their price objective on O-I Glass from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Weiss Ratings raised shares of O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. BNP Paribas Exane cut shares of O-I Glass from an “outperform” rating to a “neutral” rating and set a $8.50 price target for the company. in a research report on Thursday, July 30th. Bank of America reissued an “underperform” rating and set a $11.00 price target on shares of O-I Glass in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada lowered shares of O-I Glass from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $10.00 to $8.00 in a report on Thursday, August 13th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.31.

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.