Ieq Capital LLC Acquires New Position in O-I Glass, Inc. $OI

Key Points

• Ieq Capital LLC has taken a new position in O-I Glass, acquiring 26,414 shares worth approximately $303,000 during the first quarter.
• O-I Glass reported an earnings per share (EPS) of $0.53 for the latest quarter, exceeding the consensus estimate of $0.41, despite a 1.3% decline in revenue compared to the same quarter last year.
• Total institutional ownership in O-I Glass is remarkable, with 97.24% of the company's stock currently held by institutional investors.

Ieq Capital LLC acquired a new position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 26,414 shares of the industrial products company's stock, valued at approximately $303,000.

Other institutional investors also recently modified their holdings of the company. Millennium Management LLC boosted its stake in O-I Glass by 251.7% in the 4th quarter. Millennium Management LLC now owns 1,458,102 shares of the industrial products company's stock worth $15,806,000 after purchasing an additional 1,043,570 shares during the period. MetLife Investment Management LLC boosted its holdings in O-I Glass by 1,043.3% during the first quarter. MetLife Investment Management LLC now owns 1,074,764 shares of the industrial products company's stock worth $12,328,000 after purchasing an additional 980,758 shares during the last quarter. Nuveen LLC bought a new stake in shares of O-I Glass in the first quarter valued at approximately $10,738,000. Advisors Preferred LLC bought a new position in shares of O-I Glass in the 1st quarter worth $2,775,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in O-I Glass during the 4th quarter valued at $2,573,000. Institutional investors own 97.24% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on OI. Citigroup boosted 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 report on Thursday, July 3rd. UBS Group reiterated a "buy" rating and issued a $19.00 target price (up from $17.00) on shares of O-I Glass in a research note on Wednesday, July 9th. BNP Paribas Exane assumed coverage on shares of O-I Glass in a report on Wednesday, June 25th. They issued an "outperform" rating and a $18.00 price target for the company. Wells Fargo & Company reissued a "mixed" rating on shares of O-I Glass in a research report on Monday, August 4th. Finally, Truist Financial set a $21.00 price target on shares of O-I Glass and gave the company a "buy" rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $17.00.

Insider Activity

In other news, SVP Darrow A. Abrahams bought 3,828 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were purchased at an average price of $13.05 per share, with a total value of $49,955.40. Following the transaction, the senior vice president directly owned 184,447 shares in the company, valued at $2,407,033.35. This represents a 2.12% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gordon Hardie purchased 8,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was purchased at an average cost of $13.10 per share, for a total transaction of $104,800.00. Following the acquisition, the chief executive officer owned 515,817 shares of the company's stock, valued at approximately $6,757,202.70. This trade represents a 1.58% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.93% of the company's stock.

O-I Glass Stock Performance

OI traded up $0.40 during midday trading on Thursday, reaching $13.04. The company's stock had a trading volume of 212,515 shares, compared to its average volume of 1,539,531. The company has a current ratio of 1.24, a quick ratio of 0.77 and a debt-to-equity ratio of 3.58. The stock has a market cap of $2.01 billion, a P/E ratio of -7.90, a PEG ratio of 0.25 and a beta of 0.93. O-I Glass, Inc. has a twelve month low of $9.23 and a twelve month high of $16.04. The company has a fifty day simple moving average of $13.77 and a 200 day simple moving average of $12.91.

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 business had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.70 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. 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. Research analysts expect that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

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.