Fox Run Management L.L.C. Takes Position in O-I Glass, Inc. $OI

Key Points

• Fox Run Management L.L.C. has acquired 30,972 shares of O-I Glass, Inc., valued at approximately $355,000, as reported in its latest 13F filing with the SEC.
• Several hedge funds, including Dimensional Fund Advisors LP and Levin Capital Strategies L.P., have increased their stakes in O-I Glass, with institutional investors now owning 97.24% of the company's stock.
• O-I Glass reported earnings of $0.53 per share, exceeding consensus estimates, despite a 1.3% decline in revenue year-over-year.

Fox Run Management L.L.C. acquired a new stake in O-I Glass, Inc. (NYSE:OI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,972 shares of the industrial products company's stock, valued at approximately $355,000.

A number of other hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in O-I Glass by 79.3% during the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock worth $30,000 after acquiring an additional 1,142 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of O-I Glass during the first quarter worth approximately $30,000. Sterling Capital Management LLC lifted its holdings in O-I Glass by 807.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock worth $53,000 after purchasing an additional 4,343 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in O-I Glass in the 4th quarter valued at $89,000. Finally, CWM LLC grew its holdings in O-I Glass by 623.9% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 97.24% of the company's stock.

Wall Street Analyst Weigh In

OI has been the subject of a number of research reports. Citigroup lifted their target price on O-I Glass from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Truist Financial set a $21.00 price objective on shares of O-I Glass and gave the stock a "buy" rating in a research note on Friday, July 11th. BNP Paribas Exane initiated coverage on shares of O-I Glass in a report on Wednesday, June 25th. They issued an "outperform" rating and a $18.00 price objective for the company. Wells Fargo & Company reaffirmed a "mixed" rating on shares of O-I Glass in a report on Monday, August 4th. Finally, UBS Group reiterated a "buy" rating and issued a $19.00 price target (up from $17.00) on shares of O-I Glass in a research report on Wednesday, July 9th. One equities research 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $17.00.

O-I Glass Price Performance

Shares of O-I Glass stock traded down $0.1270 on Monday, reaching $13.2830. 1,788,538 shares of the stock were exchanged, compared to its average volume of 1,860,939. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.77 and a current ratio of 1.24. The firm has a market cap of $2.05 billion, a PE ratio of -8.05, a P/E/G ratio of 0.26 and a beta of 0.92. The firm's 50 day moving average is $14.19 and its 200-day moving average is $12.82. O-I Glass, Inc. has a one year low of $9.23 and a one year high of $16.04.

O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.53 EPS 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 business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the business earned $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. As a group, analysts anticipate that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other O-I Glass news, CEO Gordon Hardie bought 8,000 shares of the stock in a transaction on Tuesday, August 5th. The stock was purchased 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 owned 515,817 shares in the company, valued at $6,757,202.70. The trade was a 1.58% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Darrow A. Abrahams purchased 3,828 shares of O-I Glass stock in a transaction dated Tuesday, August 5th. The stock was bought at an average price of $13.05 per share, for a total transaction of $49,955.40. Following the completion of the purchase, the senior vice president owned 184,447 shares in the company, 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 insiders.

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.