State of New Jersey Common Pension Fund D boosted its holdings in O-I Glass, Inc. (NYSE:OI – Free Report) by 35.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 170,471 shares of the industrial products company’s stock after buying an additional 44,861 shares during the period. State of New Jersey Common Pension Fund D owned 0.11% of O-I Glass worth $2,792,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in OI. Assenagon Asset Management S.A. lifted its stake in shares of O-I Glass by 132.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,002,867 shares of the industrial products company’s stock valued at $32,807,000 after purchasing an additional 1,141,680 shares in the last quarter. Luminus Management LLC lifted its stake in shares of O-I Glass by 69.4% in the 3rd quarter. Luminus Management LLC now owns 2,140,678 shares of the industrial products company’s stock valued at $35,814,000 after purchasing an additional 877,172 shares in the last quarter. Cooper Creek Partners Management LLC lifted its stake in shares of O-I Glass by 39.6% in the 3rd quarter. Cooper Creek Partners Management LLC now owns 2,200,187 shares of the industrial products company’s stock valued at $36,809,000 after purchasing an additional 623,705 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of O-I Glass by 114.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 337,625 shares of the industrial products company’s stock valued at $5,648,000 after purchasing an additional 180,374 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of O-I Glass by 61.6% in the 3rd quarter. Hsbc Holdings PLC now owns 445,344 shares of the industrial products company’s stock valued at $7,508,000 after purchasing an additional 169,823 shares in the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.
O-I Glass Stock Up 3.9 %
Shares of NYSE:OI opened at $15.66 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 2.69. O-I Glass, Inc. has a one year low of $13.56 and a one year high of $23.57. The business’s 50-day simple moving average is $15.99 and its 200 day simple moving average is $15.60.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on OI shares. Bank of America reaffirmed a “neutral” rating and issued a $16.00 price objective (down from $21.00) on shares of O-I Glass in a research note on Friday, April 19th. Truist Financial reaffirmed a “buy” rating and issued a $20.00 price objective on shares of O-I Glass in a research note on Monday, March 25th. UBS Group assumed coverage on O-I Glass in a research note on Tuesday, January 16th. They issued a “buy” rating and a $26.00 price objective on the stock. StockNews.com downgraded O-I Glass from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Finally, Citigroup downgraded O-I Glass from a “buy” rating to a “neutral” rating and raised their target price for the company from $17.00 to $18.00 in a report on Wednesday, January 3rd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, O-I Glass currently has an average rating of “Hold” and a consensus target price of $21.75.
View Our Latest Stock Analysis on OI
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.
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