Headlands Technologies LLC Has $281,000 Holdings in O-I Glass, Inc. (NYSE:OI)

Headlands Technologies LLC grew its position in O-I Glass, Inc. (NYSE:OI) by 986.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,242 shares of the industrial products company’s stock after purchasing an additional 22,919 shares during the period. Headlands Technologies LLC’s holdings in O-I Glass were worth $281,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Fidelis Capital Partners LLC bought a new stake in shares of O-I Glass during the 1st quarter worth about $33,000. TFO Wealth Partners LLC boosted its stake in shares of O-I Glass by 24,311.1% during the 4th quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 2,188 shares in the last quarter. FinTrust Capital Advisors LLC bought a new stake in shares of O-I Glass during the 1st quarter worth about $38,000. Bessemer Group Inc. boosted its stake in shares of O-I Glass by 40.2% during the 1st quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 1,318 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of O-I Glass by 37.3% during the 4th quarter. Quadrant Capital Group LLC now owns 5,168 shares of the industrial products company’s stock worth $85,000 after acquiring an additional 1,404 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 NYSE:OI opened at $12.70 on Friday. O-I Glass, Inc. has a 1-year low of $10.08 and a 1-year high of $18.70. The firm has a market capitalization of $1.98 billion, a PE ratio of -7.99, a PEG ratio of 1.72 and a beta of 1.17. The business’s 50 day moving average is $11.83 and its 200-day moving average is $13.29. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 2.85.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. O-I Glass’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 EPS. Sell-side analysts predict that O-I Glass, Inc. will post 1.13 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John Humphrey bought 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average price of $11.30 per share, for a total transaction of $169,500.00. Following the transaction, the director now directly owns 84,227 shares of the company’s stock, valued at $951,765.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.49% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on OI. Citigroup lowered their target price on O-I Glass from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, July 8th. Truist Financial reaffirmed a “buy” rating and issued a $16.00 target price (down previously from $17.00) on shares of O-I Glass in a report on Thursday, August 1st. UBS Group lowered their target price on O-I Glass from $26.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Robert W. Baird lowered their target price on O-I Glass from $22.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Finally, StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.25.

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.