57,343 Shares in O-I Glass, Inc. $OI Acquired by Dynamic Technology Lab Private Ltd

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 bought a new position in O-I Glass, Inc. (NYSE:OI - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 57,343 shares of the industrial products company's stock, valued at approximately $658,000.

A number of other institutional investors have also bought and sold shares of OI. Northern Trust Corp increased its stake in O-I Glass by 8.5% in the 4th quarter. Northern Trust Corp now owns 1,738,277 shares of the industrial products company's stock worth $18,843,000 after buying an additional 135,989 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of O-I Glass during the fourth quarter valued at about $1,199,000. Baird Financial Group Inc. grew its position in shares of O-I Glass by 9.6% during the fourth quarter. Baird Financial Group Inc. now owns 16,152 shares of the industrial products company's stock valued at $175,000 after purchasing an additional 1,410 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of O-I Glass during the fourth quarter valued at about $107,000. Finally, Lighthouse Investment Partners LLC grew its position in shares of O-I Glass by 3.2% during the fourth quarter. Lighthouse Investment Partners LLC now owns 161,548 shares of the industrial products company's stock valued at $1,751,000 after purchasing an additional 5,083 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity at O-I Glass

In other O-I Glass news, CEO Gordon Hardie acquired 8,000 shares of O-I Glass stock in a transaction that occurred on 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 completion of the purchase, the chief executive officer directly owned 515,817 shares of the company's stock, valued at approximately $6,757,202.70. This represents a 1.58% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Darrow A. Abrahams acquired 3,828 shares of O-I Glass stock in a transaction that occurred on Tuesday, August 5th. The stock was acquired at an average cost of $13.05 per share, with a total value of $49,955.40. Following the purchase, the senior vice president directly owned 184,447 shares of the company's stock, valued at $2,407,033.35. This represents a 2.12% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.93% of the company's stock.

O-I Glass Trading Down 2.2%

Shares of O-I Glass stock traded down $0.30 on Friday, hitting $12.93. 843,036 shares of the company traded hands, compared to its average volume of 1,378,279. The stock's 50 day moving average price is $13.67 and its 200-day moving average price is $12.94. 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, Inc. has a 52 week low of $9.23 and a 52 week high of $16.04. The company has a market cap of $1.99 billion, a PE ratio of -7.83, a PEG ratio of 0.26 and a beta of 0.93.

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