O-I Glass, Inc. (NYSE:OI – Get Free Report)’s share price was down 7% on Wednesday . The company traded as low as $9.22 and last traded at $9.1780. 225,702 shares were traded during trading, a decline of 91% from the average daily volume of 2,445,995 shares. The stock had previously closed at $9.87.
Wall Street Analyst Weigh In
OI has been the topic of several research reports. Wells Fargo & Company cut shares of O-I Glass from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $18.00 to $13.00 in a report on Friday, March 20th. UBS Group lowered their price target on O-I Glass from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Citigroup dropped their price target on O-I Glass from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Royal Bank Of Canada cut their price objective on O-I Glass from $14.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Weiss Ratings cut O-I Glass from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 30th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.71.
Check Out Our Latest Report on OI
O-I Glass Stock Performance
O-I Glass (NYSE:OI – Get Free Report) last announced its earnings results on Tuesday, April 28th. The industrial products company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). O-I Glass had a negative net margin of 2.91% and a positive return on equity of 13.65%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the prior year, the company posted $0.40 earnings per share. The firm’s quarterly revenue 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. As a group, research analysts predict that O-I Glass, Inc. will post 1.2 EPS for the current fiscal year.
Insider Transactions at O-I Glass
In related news, SVP Darrow A. Abrahams acquired 2,774 shares of O-I Glass stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $9.04 per share, for a total transaction of $25,076.96. Following the purchase, the senior vice president directly owned 235,928 shares of the company’s stock, valued at approximately $2,132,789.12. This trade represents a 1.19% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Eduardo Restrepo bought 3,309 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $8.98 per share, for a total transaction of $29,714.82. Following the completion of the acquisition, the senior vice president owned 94,199 shares in the company, valued at $845,907.02. This trade represents a 3.64% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 17,083 shares of company stock worth $157,312 in the last three months. Corporate insiders own 1.00% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its stake in shares of O-I Glass by 87.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 830 shares during the period. Optiver Holding B.V. raised its stake in O-I Glass by 491.5% during the 1st quarter. Optiver Holding B.V. now owns 2,496 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 2,074 shares during the period. Headlands Technologies LLC bought a new stake in O-I Glass during the 2nd quarter worth approximately $29,000. Quarry LP purchased a new position in O-I Glass during the fourth quarter valued at approximately $32,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in O-I Glass by 36,533.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 2,192 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.
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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