Hawk Ridge Capital Management LP Makes New $7.09 Million Investment in O-I Glass, Inc. $OI

Key Points

• Hawk Ridge Capital Management LP acquired 617,700 shares of O-I Glass, Inc., valued at approximately $7.1 million, representing 0.40% ownership as of its latest SEC filing.
• The stock's market capitalization is currently $1.92 billion, with shares down 2.5% recently, trading at $12.48 with a 12-month range of $9.23 to $16.04.
• Analysts have set average target prices for O-I Glass ranging from $17.00 to $19.00, with three analysts giving it a "Hold" rating and others recommending "Buy".

Hawk Ridge Capital Management LP acquired a new position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 617,700 shares of the industrial products company's stock, valued at approximately $7,085,000. Hawk Ridge Capital Management LP owned approximately 0.40% of O-I Glass at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in O-I Glass by 79.3% in 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 bought a new position in O-I Glass during the first quarter valued at about $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in O-I Glass during the first quarter worth about $85,000. Point72 Asset Management L.P. bought a new position in O-I Glass during the fourth quarter worth about $89,000. Finally, CWM LLC boosted its position 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 worth $96,000 after purchasing an additional 7,231 shares during the period. 97.24% of the stock is currently owned by institutional investors and hedge funds.

O-I Glass Stock Performance

Shares of NYSE OI traded down $0.14 during midday trading on Tuesday, hitting $12.82. 290,878 shares of the company's stock traded hands, compared to its average volume of 1,545,557. O-I Glass, Inc. has a 1 year low of $9.23 and a 1 year high of $16.04. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -7.77, a price-to-earnings-growth 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. The firm has a fifty day moving average of $13.88 and a 200 day moving average of $12.92.

O-I Glass (NYSE:OI - Get Free Report) last released its earnings results on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the firm posted $0.44 EPS. The firm'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, analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

Insider Activity at O-I Glass

In other news, SVP Darrow A. Abrahams bought 3,828 shares of the stock in a transaction dated Tuesday, August 5th. The stock was purchased at an average cost of $13.05 per share, for a total transaction of $49,955.40. Following the transaction, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gordon Hardie bought 8,000 shares of the stock in a transaction dated Tuesday, August 5th. The shares were purchased at an average price of $13.10 per share, with a total value of $104,800.00. Following the completion of the transaction, the chief executive officer directly owned 515,817 shares in the company, valued at approximately $6,757,202.70. The trade was a 1.58% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.49% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Citigroup raised their target price on shares of O-I Glass from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. UBS Group reissued a "buy" rating and set a $19.00 price target (up from $17.00) on shares of O-I Glass in a research note on Wednesday, July 9th. Truist Financial set a $21.00 price target on shares of O-I Glass and gave the stock a "buy" rating in a research note on Friday, July 11th. BNP Paribas set a $18.00 price target on shares of O-I Glass in a research note on Wednesday, June 25th. Finally, BNP Paribas Exane initiated coverage on shares of O-I Glass in a research note on Wednesday, June 25th. They set an "outperform" rating and a $18.00 price target on the stock. 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 MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.00.

O-I Glass Company 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.