IPG Investment Advisors LLC decreased its position in shares of O-I Glass, Inc. (NYSE:OI – Free Report) by 40.9% in the fourth quarter, Holdings Channel reports. The fund owned 546,693 shares of the industrial products company’s stock after selling 378,970 shares during the period. O-I Glass accounts for 1.4% of IPG Investment Advisors LLC’s investment portfolio, making the stock its 15th biggest holding. IPG Investment Advisors LLC’s holdings in O-I Glass were worth $8,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. acquired a new position in O-I Glass during the 3rd quarter worth $1,526,000. Knights of Columbus Asset Advisors LLC lifted its position in 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 worth $2,241,000 after acquiring an additional 82,619 shares during the last quarter. Boothbay Fund Management LLC raised its position in shares of O-I Glass by 22.1% during the third quarter. Boothbay Fund Management LLC now owns 803,029 shares of the industrial products company’s stock valued at $10,415,000 after buying an additional 145,170 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of O-I Glass by 42.1% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,026,525 shares of the industrial products company’s stock valued at $29,912,000 after buying an additional 600,462 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its position in shares of O-I Glass by 29.1% during the third quarter. Public Sector Pension Investment Board now owns 680,559 shares of the industrial products company’s stock valued at $8,827,000 after buying an additional 153,199 shares during the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.
Insider Buying and Selling
In other O-I Glass news, SVP Eduardo Restrepo purchased 3,309 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $8.98 per share, with a total value of $29,714.82. Following the completion of the transaction, the senior vice president directly owned 94,199 shares of the company’s stock, valued at approximately $845,907.02. This trade represents a 3.64% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Randolph L. Burns purchased 11,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was acquired at an average cost of $9.32 per share, with a total value of $102,520.00. Following the transaction, the senior vice president directly owned 133,932 shares of the company’s stock, valued at approximately $1,248,246.24. This represents a 8.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 17,083 shares of company stock valued at $157,312 over the last quarter. Corporate insiders own 1.00% of the company’s stock.
O-I Glass Stock Performance
O-I Glass (NYSE:OI – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.04). O-I Glass had a positive return on equity of 13.65% and a negative net margin of 2.91%.The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the company earned $0.40 EPS. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. Research analysts anticipate that O-I Glass, Inc. will post 1.2 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. Citigroup cut their price objective on shares of O-I Glass from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. UBS Group cut their price objective on shares of O-I Glass from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Royal Bank Of Canada set a $14.00 price objective on shares of O-I Glass in a research report on Friday, April 17th. Wall Street Zen lowered shares of O-I Glass from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Weiss Ratings lowered shares of O-I Glass from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.50.
Get Our Latest Stock Analysis on O-I Glass
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.
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