Nomura Holdings Inc. Acquires Shares of 74,134 O-I Glass, Inc. $OI

Key Points

• Nomura Holdings Inc. purchased 74,134 shares of O-I Glass, Inc. valued at approximately $850,000 in the first quarter, indicating institutional interest in the company's stock.
• O-I Glass reported $0.53 earnings per share in its latest quarterly results, surpassing the consensus estimate by $0.12, although its revenue experienced a slight decline compared to the previous year.
• Several analyst upgrades were noted, with UBS Group raising its price target for O-I Glass shares to $19.00 from a previous $17.00, reflecting growing optimism among analysts regarding the company's performance.

Nomura Holdings Inc. bought a new position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 74,134 shares of the industrial products company's stock, valued at approximately $850,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in shares of O-I Glass by 1.5% during the 1st quarter. Russell Investments Group Ltd. now owns 70,572 shares of the industrial products company's stock worth $809,000 after purchasing an additional 1,074 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of O-I Glass by 79.3% in the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock worth $30,000 after buying an additional 1,142 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of O-I Glass by 1.6% in the first quarter. SummerHaven Investment Management LLC now owns 75,226 shares of the industrial products company's stock worth $863,000 after acquiring an additional 1,204 shares during the period. Baird Financial Group Inc. increased its stake in O-I Glass by 9.6% in the 4th quarter. Baird Financial Group Inc. now owns 16,152 shares of the industrial products company's stock worth $175,000 after purchasing an additional 1,410 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in O-I Glass by 4.2% during the first quarter. PNC Financial Services Group Inc. now owns 52,337 shares of the industrial products company's stock worth $600,000 after acquiring an additional 2,104 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company's stock.

Insiders Place Their Bets

In other O-I Glass news, CEO Gordon Hardie purchased 8,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were acquired at an average cost of $13.10 per share, with a total value of $104,800.00. Following the completion of the acquisition, the chief executive officer directly owned 515,817 shares in the company, valued at $6,757,202.70. The trade was a 1.58% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Darrow A. Abrahams purchased 3,828 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were purchased at an average cost of $13.05 per share, with a total value of $49,955.40. Following the completion of the purchase, the senior vice president owned 184,447 shares in the company, valued at $2,407,033.35. This trade represents a 2.12% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.49% of the company's stock.

O-I Glass Price Performance

Shares of OI traded up $0.11 during mid-day trading on Monday, reaching $12.88. The company had a trading volume of 586,811 shares, compared to its average volume of 1,549,700. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.77 and a current ratio of 1.24. The company's 50 day simple moving average is $13.91 and its 200 day simple moving average is $12.90. O-I Glass, Inc. has a 1-year low of $9.23 and a 1-year high of $16.04. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -7.78, a P/E/G ratio of 0.25 and a beta of 0.93.

O-I Glass (NYSE:OI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.12. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.70 billion. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. The business's revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.44 EPS. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. Analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current year.

Analyst Ratings Changes

OI has been the subject of several recent analyst reports. BNP Paribas Exane started coverage on O-I Glass in a research note on Wednesday, June 25th. They issued an "outperform" rating and a $18.00 price target for the company. Truist Financial set a $21.00 price target on O-I Glass and gave the company a "buy" rating in a research note on Friday, July 11th. UBS Group reiterated a "buy" rating and set a $19.00 price target (up from $17.00) on shares of O-I Glass in a research report on Wednesday, July 9th. Wall Street Zen upgraded O-I Glass from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Finally, Bank of America reaffirmed a "neutral" rating and issued a $17.00 price objective (up previously from $15.00) on shares of O-I Glass in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $17.00.

About O-I Glass

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.