Dynamic Technology Lab Private Ltd Makes New $658,000 Investment in O-I Glass, Inc. $OI

Key Points

• Dynamic Technology Lab Private Ltd acquired a new stake in O-I Glass, purchasing 57,343 shares valued at approximately $658,000 during the first quarter.
• O-I Glass reported a quarterly earnings per share of $0.53, beating the consensus estimate by $0.12, despite a year-over-year revenue decline of 1.3%.
• Analysts have set a consensus price target of $17.00 for O-I Glass, with several firms upgrading their ratings to "buy" in recent research notes.

Dynamic Technology Lab Private Ltd purchased a new stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 57,343 shares of the industrial products company's stock, valued at approximately $658,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of O-I Glass by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 767,260 shares of the industrial products company's stock valued at $8,800,000 after acquiring an additional 17,254 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of O-I Glass by 117.7% during the 1st quarter. SG Americas Securities LLC now owns 45,766 shares of the industrial products company's stock valued at $525,000 after acquiring an additional 24,743 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of O-I Glass by 11.0% during the 1st quarter. American Century Companies Inc. now owns 326,153 shares of the industrial products company's stock valued at $3,741,000 after acquiring an additional 32,339 shares in the last quarter. Northern Trust Corp grew its holdings in shares of O-I Glass by 8.5% during the 4th quarter. Northern Trust Corp now owns 1,738,277 shares of the industrial products company's stock valued at $18,843,000 after acquiring an additional 135,989 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of O-I Glass by 79.3% during the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 1,142 shares in the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

O-I Glass Price Performance

NYSE OI traded up $0.02 on Monday, reaching $12.94. The company's stock had a trading volume of 121,358 shares, compared to its average volume of 1,537,757. The firm has a market cap of $1.99 billion, a PE ratio of -7.84, a price-to-earnings-growth ratio of 0.25 and a beta of 0.93. The business has a 50-day moving average price of $13.67 and a 200 day moving average price of $12.96. O-I Glass, Inc. has a 52 week low of $9.23 and a 52 week high of $16.04. The company has a current ratio of 1.24, a quick ratio of 0.77 and a debt-to-equity ratio of 3.58.

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 for the quarter, beating analysts' consensus estimates of $0.41 by $0.12. The business had revenue of $1.70 billion for the quarter, compared to analysts' expectations 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 firm's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 earnings per share. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. Sell-side analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on OI. Bank of America restated a "neutral" rating and set a $17.00 price target (up from $15.00) on shares of O-I Glass in a report on Wednesday, July 9th. Wall Street Zen upgraded shares of O-I Glass from a "hold" rating to a "buy" rating in a report on Sunday, June 29th. BNP Paribas set a $18.00 price objective on shares of O-I Glass in a report on Wednesday, June 25th. Citigroup upped their price objective on shares of O-I Glass from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Finally, UBS Group reiterated a "buy" rating and issued a $19.00 price objective (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 given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, O-I Glass currently has an average rating of "Moderate Buy" and an average price target of $17.00.

Insider Transactions at O-I Glass

In other O-I Glass news, CEO Gordon Hardie bought 8,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were acquired at an average price of $13.10 per share, with a total value of $104,800.00. Following the completion of the purchase, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Darrow A. Abrahams bought 3,828 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was acquired at an average cost of $13.05 per share, for a total transaction of $49,955.40. Following the purchase, the senior vice president owned 184,447 shares of the company's stock, valued at $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.

O-I Glass 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.