Counterpoint Mutual Funds LLC Acquires New Shares in O-I Glass, Inc. $OI

Key Points

• Counterpoint Mutual Funds LLC acquired 23,790 shares of O-I Glass, Inc. worth approximately $351,000 during the second quarter, indicating institutional interest in the company's stock.
• CEO Gordon Hardie and SVP Darrow A. Abrahams both made recent purchases of O-I Glass shares, signaling confidence in the company's future performance.
• O-I Glass reported Q2 earnings that exceeded analyst expectations, with earnings per share at $0.53, despite a slight revenue decline compared to the previous year.

Counterpoint Mutual Funds LLC acquired a new stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund acquired 23,790 shares of the industrial products company's stock, valued at approximately $351,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of O-I Glass by 30.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 365,630 shares of the industrial products company's stock valued at $3,963,000 after purchasing an additional 84,380 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of O-I Glass during the 4th quarter valued at $2,573,000. Wealthedge Investment Advisors LLC bought a new stake in shares of O-I Glass during the 4th quarter valued at $241,000. GAMMA Investing LLC raised its stake in shares of O-I Glass by 1,956.0% during the 1st quarter. GAMMA Investing LLC now owns 29,627 shares of the industrial products company's stock valued at $340,000 after purchasing an additional 28,186 shares during the period. Finally, SG Americas Securities LLC grew its position in O-I Glass by 117.7% during the first quarter. SG Americas Securities LLC now owns 45,766 shares of the industrial products company's stock worth $525,000 after buying an additional 24,743 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Gordon Hardie bought 8,000 shares of the stock in a transaction dated Tuesday, August 5th. The stock was bought at an average price of $13.10 per share, with a total value of $104,800.00. Following the purchase, the chief executive officer owned 515,817 shares in the company, 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 SEC, which is available at this link. Also, SVP Darrow A. Abrahams bought 3,828 shares of the stock in a transaction dated Tuesday, August 5th. The stock was bought at an average cost of $13.05 per share, with a total value of $49,955.40. Following the purchase, the senior vice president owned 184,447 shares in the company, valued at $2,407,033.35. The trade was a 2.12% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.93% of the company's stock.

O-I Glass Trading Down 0.9%

Shares of OI stock opened at $13.22 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 3.58. The business has a 50-day moving average price of $13.30 and a two-hundred day moving average price of $13.02. O-I Glass, Inc. has a 12-month low of $9.23 and a 12-month high of $16.04. The firm has a market cap of $2.04 billion, a P/E ratio of -8.01, a price-to-earnings-growth ratio of 0.26 and a beta of 0.93.

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 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company's 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 anticipate that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

OI has been the subject of several recent analyst reports. Citigroup boosted their target price on O-I Glass from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Wells Fargo & Company restated a "mixed" rating on shares of O-I Glass in a research report on Monday, August 4th. BNP Paribas Exane initiated coverage on O-I Glass in a research report on Wednesday, June 25th. They set an "outperform" rating and a $18.00 target price for the company. UBS Group restated a "buy" rating and set a $19.00 target price (up from $17.00) on shares of O-I Glass in a research report on Wednesday, July 9th. Finally, Truist Financial set a $21.00 target price on O-I Glass and gave the stock a "buy" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $17.00.

O-I Glass Company Profile

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.

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