Invesco Ltd. Lowers Holdings in O-I Glass, Inc. $OI

Key Points

• Invesco Ltd. reduced its stake in O-I Glass, Inc. by 12.1%, now holding approximately $12.70 million in stock after selling 153,101 shares in the first quarter.
• CEO Gordon Hardie acquired 8,000 shares at an average price of $13.10 each, while SVP Darrow A. Abrahams bought 3,828 shares at $13.05, indicating insider confidence in the company's stock.
• Analysts have diverse opinions on O-I Glass, with Barclays raising its price target to $14.00 and UBS setting it at $19.00, reflecting a consensus average target of $17.00.

Invesco Ltd. lessened its holdings in O-I Glass, Inc. (NYSE:OI - Free Report) by 12.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,107,377 shares of the industrial products company's stock after selling 153,101 shares during the period. Invesco Ltd. owned 0.72% of O-I Glass worth $12,702,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. GAMMA Investing LLC grew its position in shares of O-I Glass by 79.3% during the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock worth $30,000 after purchasing an additional 1,142 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in O-I Glass during the 4th quarter valued at approximately $89,000. CWM LLC raised 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 valued at $96,000 after buying an additional 7,231 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of O-I Glass during the fourth quarter valued at approximately $106,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of O-I Glass in the fourth quarter worth $107,000. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Gordon Hardie acquired 8,000 shares of the business's stock in a transaction dated 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 completion of 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Darrow A. Abrahams acquired 3,828 shares of O-I Glass stock in a transaction dated Tuesday, August 5th. The stock was purchased at an average price of $13.05 per share, with a total value of $49,955.40. Following the completion of the purchase, the senior vice president owned 184,447 shares of the company's stock, valued at approximately $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. Company insiders own 0.93% of the company's stock.

O-I Glass Stock Down 1.3%

Shares of OI stock traded down $0.17 during trading hours on Thursday, reaching $12.89. 685,517 shares of the company's stock were exchanged, compared to its average volume of 1,537,813. 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 company has a market cap of $1.99 billion, a price-to-earnings ratio of -7.81, a P/E/G ratio of 0.26 and a beta of 0.92. The stock's 50 day moving average is $14.17 and its 200-day moving average is $12.83. O-I Glass, Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $16.04.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.12. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate 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 company'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 company posted $0.44 earnings per share. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. Analysts predict that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on OI shares. Truist Financial set a $21.00 target price on shares of O-I Glass and gave the company a "buy" rating in a research note on Friday, July 11th. Barclays increased their price objective on shares of O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. BNP Paribas set a $18.00 target price on O-I Glass in a report on Wednesday, June 25th. Citigroup boosted their price target on shares of O-I Glass from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Finally, Bank of America reaffirmed a "neutral" rating and issued a $17.00 price objective (up from $15.00) on shares of O-I Glass in a research note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $17.00.

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.