Hsbc Holdings PLC Lowers Position in O-I Glass, Inc. $OI

Key Points

• Hsbc Holdings PLC reduced its stake in O-I Glass, Inc. by 26.8%, holding 96,507 shares worth $1.1 million at the end of the last quarter.
• Recent insider purchases include CEO Gordon Hardie acquiring 8,000 shares, increasing his ownership to 515,817 shares, and SVP Darrow A. Abrahams acquiring 3,828 shares.
• O-I Glass reported earnings of $0.53 per share, exceeding expectations, but experienced a 1.3% decline in quarterly revenue compared to the previous year.

Hsbc Holdings PLC decreased its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 26.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,507 shares of the industrial products company's stock after selling 35,254 shares during the period. Hsbc Holdings PLC owned approximately 0.06% of O-I Glass worth $1,100,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of OI. GAMMA Investing LLC lifted its holdings in O-I Glass by 79.3% in the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock valued at $30,000 after buying an additional 1,142 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in O-I Glass in the first quarter worth $30,000. Point72 Asset Management L.P. acquired a new stake in O-I Glass in the fourth quarter worth $89,000. CWM LLC grew its holdings in O-I Glass by 623.9% in 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. Finally, Point72 Hong Kong Ltd acquired a new stake in O-I Glass in the fourth quarter worth $106,000. Institutional investors and hedge funds own 97.24% of the company's stock.

O-I Glass Stock Performance

Shares of O-I Glass stock traded down $0.21 during trading hours on Tuesday, hitting $12.79. 1,599,166 shares of the company's stock traded hands, compared to its average volume of 1,542,393. O-I Glass, Inc. has a 12-month low of $9.23 and a 12-month high of $16.04. 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 company has a fifty day simple moving average of $14.11 and a 200-day simple moving average of $12.87. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -7.75, a PEG ratio of 0.25 and a beta of 0.93.

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

Insider Buying and Selling at O-I Glass

In related news, CEO Gordon Hardie purchased 8,000 shares of O-I Glass stock in a transaction dated Tuesday, August 5th. The stock was bought at an average cost 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 in the company, valued at $6,757,202.70. This trade represents a 1.58% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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, with a total value of $49,955.40. Following the completion of the transaction, 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 insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on OI shares. Bank of America restated a "neutral" rating and issued a $17.00 price target (up from $15.00) on shares of O-I Glass in a report on Wednesday, July 9th. Wells Fargo & Company restated a "mixed" rating on shares of O-I Glass in a report on Monday, August 4th. BNP Paribas Exane started coverage on shares of O-I Glass in a report on Wednesday, June 25th. They set an "outperform" rating and a $18.00 price objective on the stock. UBS Group restated a "buy" rating and set a $19.00 price objective (up previously from $17.00) on shares of O-I Glass in a report on Wednesday, July 9th. Finally, Wall Street Zen upgraded shares of O-I Glass from a "hold" rating to a "buy" rating in a report on Sunday, June 29th. One investment 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, O-I Glass currently has a consensus rating of "Moderate Buy" and a consensus target price 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.