O-I Glass, Inc. $OI Shares Bought by Edmond DE Rothschild Holding S.A.

Key Points

• Edmond DE Rothschild Holding S.A. increased its stake in O-I Glass by 6.6% during Q1, owning 1,620,015 shares valued at approximately $18.58 million.
• O-I Glass reported earnings of $0.53 per share, surpassing estimates, with quarterly revenue of $1.70 billion, although it represented a 1.3% year-over-year decline.
• Hedge funds and institutional investors collectively own 97.24% of O-I Glass's stock, indicating strong institutional confidence in the company.

Edmond DE Rothschild Holding S.A. boosted its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 6.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,620,015 shares of the industrial products company's stock after acquiring an additional 100,000 shares during the period. Edmond DE Rothschild Holding S.A. owned 1.05% of O-I Glass worth $18,582,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in 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 during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of O-I Glass during the first quarter valued at approximately $30,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in O-I Glass during the first quarter valued at approximately $85,000. Point72 Asset Management L.P. purchased a new stake in O-I Glass during the fourth quarter valued at approximately $89,000. Finally, CWM LLC increased its holdings in O-I Glass by 623.9% during the first quarter. CWM LLC now owns 8,390 shares of the industrial products company's stock valued at $96,000 after buying an additional 7,231 shares during the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on OI. Wall Street Zen upgraded O-I Glass from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. BNP Paribas set a $18.00 price objective on shares of O-I Glass in a research report on Wednesday, June 25th. Citigroup increased their price objective on shares of O-I Glass from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. BNP Paribas Exane began coverage on shares of O-I Glass in a report on Wednesday, June 25th. They issued an "outperform" rating and a $18.00 target price for the company. Finally, Wells Fargo & Company reaffirmed a "mixed" rating on shares of O-I Glass in a research note on Monday, August 4th. One 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 company has a consensus rating of "Moderate Buy" and an average price target of $17.00.

O-I Glass Stock Performance

OI traded down $0.14 during midday trading on Tuesday, reaching $12.82. The company had a trading volume of 290,878 shares, compared to its average volume of 1,545,557. The business has a 50-day moving average price of $13.88 and a two-hundred day moving average price of $12.92. O-I Glass, Inc. has a 12-month low of $9.23 and a 12-month high of $16.04. The stock has a market cap of $1.97 billion, a PE ratio of -7.77, a P/E/G ratio of 0.25 and a beta of 0.93. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.77 and a current ratio of 1.24.

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. O-I Glass had a positive return on equity of 13.70% and a negative net margin of 3.95%.The business 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 firm earned $0.44 EPS. 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. On average, sell-side analysts expect that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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.