Bank of America Corp DE Raises Position in O-I Glass, Inc. $OI

Key Points

• Bank of America increased its O-I Glass position by 15.6% in the first quarter, owning 3.56 million shares worth approximately $37.5 million. Institutional investors collectively hold 97.24% of the company.
• O-I Glass reported quarterly EPS of $0.09, missing the $0.24 consensus estimate, while revenue fell 2.2% year over year to $1.67 billion. The company also carries a high debt-to-equity ratio of 8.89.
• Analyst sentiment remains cautious: O-I Glass has a consensus “Hold” rating and a $10.19 price target, with recent downgrades citing weak demand, elevated energy costs and delayed turnaround prospects.

Bank of America Corp DE raised its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 15.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,563,497 shares of the industrial products company's stock after buying an additional 479,608 shares during the period. Bank of America Corp DE owned about 2.32% of O-I Glass worth $37,452,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Royal Bank of Canada raised its stake in O-I Glass by 33.9% in the 1st quarter. Royal Bank of Canada now owns 112,800 shares of the industrial products company's stock valued at $1,294,000 after purchasing an additional 28,548 shares during the last quarter. AQR Capital Management LLC boosted its stake in O-I Glass by 154.0% during the 1st quarter. AQR Capital Management LLC now owns 177,117 shares of the industrial products company's stock worth $1,993,000 after purchasing an additional 107,388 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in O-I Glass by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,151 shares of the industrial products company's stock worth $1,057,000 after purchasing an additional 4,055 shares during the last quarter. United Services Automobile Association purchased a new stake in shares of O-I Glass during the first quarter worth $119,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in O-I Glass by 43.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 526,279 shares of the industrial products company's stock valued at $6,036,000 after acquiring an additional 160,649 shares during the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

O-I Glass Trading Up 1.1%

OI opened at $6.83 on Friday. O-I Glass, Inc. has a 52 week low of $6.61 and a 52 week high of $16.91. The business has a fifty day simple moving average of $8.72 and a 200-day simple moving average of $10.49. The firm has a market cap of $1.05 billion, a P/E ratio of -0.91, a P/E/G ratio of 2.19 and a beta of 0.66. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 8.89.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.15). O-I Glass had a negative net margin of 18.13% and a positive return on equity of 10.40%. The firm had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the prior year, the firm posted $0.53 EPS. O-I Glass's quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities analysts expect that O-I Glass, Inc. will post 0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

OI has been the topic of several analyst reports. Bank of America reiterated an "underperform" rating and set a $11.00 price target on shares of O-I Glass in a report on Tuesday, July 14th. BNP Paribas Exane cut O-I Glass from an "outperform" rating to a "neutral" rating and set a $8.50 target price for the company. in a research note on Thursday, July 30th. Citigroup reduced their target price on O-I Glass from $10.00 to $8.00 and set a "neutral" rating on the stock in a research report on Friday, July 31st. Weiss Ratings lowered O-I Glass from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, July 30th. Finally, Robert W. Baird set a $13.00 price target on O-I Glass in a report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $10.19.

Key Stories Impacting O-I Glass

Here are the key news stories impacting O-I Glass this week:

• Positive Sentiment: Zacks Research raised its EPS forecasts for the first and second quarters of 2028 to $0.66 and $0.72, respectively, from $0.63 and $0.65. The revisions suggest analysts still see potential for improvement over the longer term, although Zacks maintains a “Hold” rating. O-I Glass analyst estimates
• Neutral Sentiment: MarketWatch continues to provide updated cash-flow information for O-I Glass, which investors may monitor given the company’s substantial debt burden and liquidity metrics. O-I Glass cash-flow information
• Negative Sentiment: RBC downgraded O-I Glass, citing weak demand and elevated energy costs that are delaying the company’s turnaround. The downgrade reinforces concerns that margin and earnings improvements may take longer than previously expected. O-I Glass downgraded at RBC
• Negative Sentiment: Zacks sharply reduced several forecasts: Q3 2026 EPS fell to $0.14 from $0.51, Q4 2026 to $0.09 from $0.39, FY2026 to $0.37 from $1.21, and FY2027 to $1.29 from $1.86. Estimates for Q2 and Q3 2027 were also lowered. These cuts outweigh the later 2028 increases and point to weaker near-term profitability.
• Negative Sentiment: The revisions follow O-I Glass’s recent quarterly earnings miss, with EPS of $0.09 versus the $0.24 consensus estimate and revenue down 2.2% year over year. Its debt-to-equity ratio of 8.89 further increases the stock’s sensitivity to weaker demand and rising costs.

About O-I Glass

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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