96,318 Shares in O-I Glass, Inc. (NYSE:OI) Purchased by Maverick Capital Ltd.

Maverick Capital Ltd. bought a new position in shares of O-I Glass, Inc. (NYSE:OI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 96,318 shares of the industrial products company’s stock, valued at approximately $1,264,000. Maverick Capital Ltd. owned approximately 0.06% of O-I Glass as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in O-I Glass by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock worth $78,952,000 after buying an additional 573,300 shares in the last quarter. Levin Capital Strategies L.P. grew its holdings in shares of O-I Glass by 25.0% during the 2nd quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company’s stock worth $39,082,000 after purchasing an additional 703,308 shares in the last quarter. Private Management Group Inc. increased its position in shares of O-I Glass by 20.8% in the third quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company’s stock worth $39,698,000 after purchasing an additional 520,452 shares during the period. Segall Bryant & Hamill LLC acquired a new position in O-I Glass in the third quarter valued at about $32,350,000. Finally, Highland Peak Capital LLC acquired a new position in O-I Glass in the third quarter valued at about $27,132,000. 97.24% of the stock is owned by institutional investors.

O-I Glass Stock Performance

Shares of OI opened at $12.60 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. O-I Glass, Inc. has a 12-month low of $10.08 and a 12-month high of $17.58. The business has a 50-day simple moving average of $12.69 and a two-hundred day simple moving average of $12.21.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the business earned $0.80 EPS. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. As a group, analysts predict that O-I Glass, Inc. will post 0.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.00 to $16.00 in a research note on Thursday, October 17th. Citigroup lifted their price target on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada dropped their price objective on O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, Barclays decreased their target price on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.25.

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.