Ieq Capital LLC Purchases Shares of 26,414 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 stake in O-I Glass, Inc. (NYSE:OI - Free Report) during the first quarter, according to its most recent disclosure 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.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OI. GAMMA Investing LLC boosted its stake 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 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 $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of O-I Glass during the first quarter worth $85,000. Point72 Asset Management L.P. bought a new position in shares of O-I Glass during the fourth quarter worth $89,000. Finally, CWM LLC boosted its position in shares of 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 in the last quarter. 97.24% of the stock is owned by institutional investors.

O-I Glass Stock Up 4.7%

OI traded up $0.59 during trading on Thursday, hitting $13.23. The company had a trading volume of 2,006,544 shares, compared to its average volume of 1,340,646. The company has a market capitalization of $2.04 billion, a PE ratio of -8.02, a PEG ratio of 0.24 and a beta of 0.93. O-I Glass, Inc. has a one year low of $9.23 and a one year high of $16.04. The firm's 50-day moving average price is $13.72 and its 200 day moving average price is $12.93. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 3.58.

O-I Glass (NYSE:OI - Get Free Report) last posted 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. The business had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.70 billion. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. The firm's revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. As a group, equities analysts expect that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

Insider Buying and Selling at O-I Glass

In related news, CEO Gordon Hardie acquired 8,000 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were acquired at an average cost of $13.10 per share, with a total value of $104,800.00. Following the transaction, the chief executive officer owned 515,817 shares of the company's stock, valued at $6,757,202.70. The trade was a 1.58% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Darrow A. Abrahams purchased 3,828 shares of the stock in a transaction on Tuesday, August 5th. The stock was acquired 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 directly owned 184,447 shares in the company, valued at approximately $2,407,033.35. The trade was a 2.12% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.93% of the company's stock.

Wall Street Analysts Forecast Growth

OI has been the topic of a number of recent analyst reports. Bank of America reissued a "neutral" rating and set a $17.00 price target (up from $15.00) on shares of O-I Glass in a research report on Wednesday, July 9th. BNP Paribas Exane initiated coverage on shares of O-I Glass in a research report on Wednesday, June 25th. They set an "outperform" rating and a $18.00 price target on the stock. 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 report 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 report on Friday, July 11th. Finally, Wells Fargo & Company reissued a "mixed" rating on shares of O-I Glass in a research report on Monday, August 4th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.