Louisiana State Employees Retirement System purchased a new stake in O-I Glass, Inc. (NYSE:OI – Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 67,600 shares of the industrial products company’s stock, valued at approximately $710,000.
Several other hedge funds have also recently bought and sold shares of the company. Balboa Wealth Partners purchased a new position in O-I Glass during the 1st quarter valued at about $168,000. Hsbc Holdings PLC increased its position in O-I Glass by 330.1% during the fourth quarter. Hsbc Holdings PLC now owns 58,920 shares of the industrial products company’s stock worth $872,000 after buying an additional 45,221 shares in the last quarter. Corient Private Wealth LLC raised its holdings in shares of O-I Glass by 6.0% in the fourth quarter. Corient Private Wealth LLC now owns 18,694 shares of the industrial products company’s stock worth $277,000 after acquiring an additional 1,062 shares during the last quarter. Villanova Investment Management Co LLC lifted its position in shares of O-I Glass by 14.2% in the fourth quarter. Villanova Investment Management Co LLC now owns 190,329 shares of the industrial products company’s stock valued at $2,809,000 after acquiring an additional 23,716 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of O-I Glass during the fourth quarter valued at $228,000. 97.24% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
OI has been the topic of a number of analyst reports. Wells Fargo & Company lowered shares of O-I Glass from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $18.00 to $13.00 in a research report on Friday, March 20th. Royal Bank Of Canada set a $14.00 target price on O-I Glass in a research note on Friday, April 17th. Weiss Ratings downgraded shares of O-I Glass from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. UBS Group lowered 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 note on Friday, April 10th. Finally, Citigroup lowered their price target on 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. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.14.
Insiders Place Their Bets
In other O-I Glass news, SVP Randolph L. Burns purchased 11,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were purchased 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 $1,248,246.24. This represents a 8.95% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Darrow A. Abrahams acquired 2,774 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $9.04 per share, with a total value of $25,076.96. Following the acquisition, the senior vice president directly owned 235,928 shares in the company, valued at $2,132,789.12. This represents a 1.19% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 17,083 shares of company stock valued at $157,312 in the last three months. 1.00% of the stock is currently owned by corporate insiders.
O-I Glass Stock Up 0.1%
NYSE OI traded up $0.01 during trading on Tuesday, hitting $10.05. The stock had a trading volume of 132,113 shares, compared to its average volume of 2,452,228. The company has a market capitalization of $1.54 billion, a PE ratio of -8.23, a P/E/G ratio of 1.12 and a beta of 0.62. The company’s 50-day moving average price is $9.05 and its two-hundred day moving average price is $11.84. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.73 and a current ratio of 1.26. O-I Glass, Inc. has a 12 month low of $7.75 and a 12 month high of $16.91.
O-I Glass (NYSE:OI – Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.05 earnings per share 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 for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the business earned $0.40 earnings per share. O-I Glass’s revenue was down 1.7% compared to the same quarter last year. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. As a group, sell-side analysts forecast that O-I Glass, Inc. will post 1.2 EPS for the current year.
O-I Glass 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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