Fox Run Management L.L.C. Makes New Investment 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. purchased a new position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 30,972 shares of the industrial products company's stock, valued at approximately $355,000.

Other hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of O-I Glass in the first quarter valued at approximately $30,000. Russell Investments Group Ltd. lifted its position in shares of O-I Glass by 1.5% in the first quarter. Russell Investments Group Ltd. now owns 70,572 shares of the industrial products company's stock valued at $809,000 after acquiring an additional 1,074 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of O-I Glass by 26.8% in the first quarter. Public Sector Pension Investment Board now owns 488,598 shares of the industrial products company's stock valued at $5,604,000 after acquiring an additional 103,263 shares in the last quarter. Nuveen LLC purchased a new position in shares of O-I Glass in the first quarter valued at approximately $10,738,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of O-I Glass by 7.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,992,887 shares of the industrial products company's stock valued at $22,858,000 after acquiring an additional 144,030 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company's stock.

O-I Glass Trading Up 2.8%

O-I Glass stock traded up $0.37 during trading on Friday, reaching $13.39. 1,268,131 shares of the company were exchanged, compared to its average volume of 1,881,105. 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 capitalization of $2.06 billion, a P/E ratio of -8.12, a PEG ratio of 0.26 and a beta of 0.92. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.24 and a quick ratio of 0.77. The stock's 50 day simple moving average is $14.20 and its two-hundred day simple moving average is $12.80.

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, topping 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 firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the business posted $0.44 earnings per share. The firm'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. On average, equities research analysts expect that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

OI has been the topic of several research reports. 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 issued an "outperform" rating and a $18.00 target price on the stock. Wall Street Zen upgraded O-I Glass from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Truist Financial set a $21.00 target price on O-I Glass and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, UBS Group reiterated a "buy" rating and set a $19.00 price objective (up previously from $17.00) on shares of O-I Glass in a research report on Wednesday, July 9th. 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

Insider Buying and Selling at O-I Glass

In other O-I Glass news, CEO Gordon Hardie bought 8,000 shares of the business's stock in a transaction 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 in the company, 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 this link. Also, SVP Darrow A. Abrahams bought 3,828 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were 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 owned 184,447 shares of the company's stock, valued at $2,407,033.35. The trade was a 2.12% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.93% of the stock is owned by company 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.