Nomura Holdings Inc. Makes New $850,000 Investment in 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. acquired a new stake in O-I Glass, Inc. (NYSE:OI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 74,134 shares of the industrial products company's stock, valued at approximately $850,000.

Several other large investors also recently bought and sold shares of OI. Levin Capital Strategies L.P. lifted its stake in O-I Glass by 6.0% during the first quarter. Levin Capital Strategies L.P. now owns 2,915,106 shares of the industrial products company's stock worth $33,436,000 after purchasing an additional 164,669 shares during the last quarter. Private Management Group Inc. lifted its stake in O-I Glass by 1.1% in the first quarter. Private Management Group Inc. now owns 2,868,100 shares of the industrial products company's stock valued at $32,897,000 after buying an additional 29,827 shares during the last quarter. IPG Investment Advisors LLC lifted its stake in O-I Glass by 11.4% in the first quarter. IPG Investment Advisors LLC now owns 2,050,708 shares of the industrial products company's stock valued at $23,522,000 after buying an additional 210,040 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in O-I Glass by 7.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,992,887 shares of the industrial products company's stock valued at $22,858,000 after buying an additional 144,030 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in O-I Glass by 8.5% in the fourth quarter. Northern Trust Corp now owns 1,738,277 shares of the industrial products company's stock valued at $18,843,000 after buying an additional 135,989 shares during the last quarter. Institutional investors and hedge funds own 97.24% of the company's stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wells Fargo & Company reiterated a "mixed" rating on shares of O-I Glass in a research note on Monday, August 4th. Bank of America restated a "neutral" rating and set a $17.00 price objective (up from $15.00) on shares of O-I Glass in a research note on Wednesday, July 9th. Wall Street Zen upgraded shares of O-I Glass from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Truist Financial set a $21.00 target price on O-I Glass and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, UBS Group reaffirmed a "buy" rating and set a $19.00 target price (up from $17.00) on shares of O-I Glass in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $17.00.

O-I Glass Stock Performance

OI traded down $0.08 on Tuesday, hitting $12.88. The company had a trading volume of 144,100 shares, compared to its average volume of 1,544,668. O-I Glass, Inc. has a 1-year low of $9.23 and a 1-year high of $16.04. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -7.79, a price-to-earnings-growth ratio of 0.25 and a beta of 0.93. The company's fifty day moving average price is $13.88 and its 200 day moving average price is $12.92. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.24 and a quick ratio of 0.77.

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

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.