JB Capital Partners LP Purchases Shares of 95,000 O-I Glass, Inc. $OI

Key Points

• JB Capital Partners LP has acquired a new stake in O-I Glass, purchasing 95,000 shares valued at approximately $1,090,000, bringing their ownership to around 0.06% of the company.
• O-I Glass reported a quarterly EPS of $0.53, exceeding analysts' expectations of $0.41, with revenues matching predictions at $1.70 billion.
• Several institutional investors, including Wells Fargo and Barclays, have increased their stakes in O-I Glass, indicating a growing confidence in the company's performance amid a mixed analyst outlook and target prices ranging from $14.00 to $21.00.

JB Capital Partners LP purchased a new position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 95,000 shares of the industrial products company's stock, valued at approximately $1,090,000. JB Capital Partners LP owned about 0.06% of O-I Glass at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Millennium Management LLC raised its holdings in O-I Glass by 251.7% during the fourth quarter. Millennium Management LLC now owns 1,458,102 shares of the industrial products company's stock valued at $15,806,000 after acquiring an additional 1,043,570 shares during the period. MetLife Investment Management LLC grew its position in shares of 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 in the last quarter. Nuveen LLC purchased a new position in O-I Glass in the 1st quarter worth approximately $10,738,000. Boothbay Fund Management LLC lifted its holdings in O-I Glass by 213.3% in the 4th quarter. Boothbay Fund Management LLC now owns 1,218,593 shares of the industrial products company's stock worth $13,210,000 after purchasing an additional 829,662 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in O-I Glass by 9.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,449,472 shares of the industrial products company's stock worth $80,749,000 after purchasing an additional 617,460 shares during the period. Institutional investors own 97.24% of the company's stock.

Insider Buying and Selling

In other news, SVP Darrow A. Abrahams acquired 3,828 shares of O-I Glass stock in a transaction on Tuesday, August 5th. The shares were bought at an average cost of $13.05 per share, for a total transaction of $49,955.40. Following the acquisition, the senior vice president directly owned 184,447 shares of the company's stock, valued at $2,407,033.35. This trade represents a 2.12% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gordon Hardie purchased 8,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were purchased at an average cost of $13.10 per share, for a total transaction of $104,800.00. Following the transaction, the chief executive officer directly owned 515,817 shares in the company, valued at approximately $6,757,202.70. This 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 Trading Down 0.3%

Shares of OI stock traded down $0.04 on Friday, reaching $13.00. 246,324 shares of the company's stock were exchanged, compared to its average volume of 1,537,682. The company's fifty day simple moving average is $14.16 and its 200 day simple moving average is $12.84. O-I Glass, Inc. has a 52 week low of $9.23 and a 52 week high of $16.04. 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 capitalization of $2.00 billion, a PE ratio of -7.88, a P/E/G ratio of 0.25 and a beta of 0.92.

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 for the quarter, topping analysts' consensus estimates of $0.41 by $0.12. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates 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 was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. As a group, analysts forecast that O-I Glass, Inc. will post 1.33 EPS for the current year.

Wall Street Analysts Forecast Growth

OI has been the topic of several research analyst reports. BNP Paribas Exane started coverage on shares of O-I Glass in a report on Wednesday, June 25th. They issued an "outperform" rating and a $18.00 target price on the stock. UBS Group reissued 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. Wall Street Zen raised O-I Glass from a "hold" rating to a "buy" rating in a report on Sunday, June 29th. Barclays increased their price target on O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Finally, BNP Paribas set a $18.00 price objective on O-I Glass in a research note on Wednesday, June 25th. One research 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 company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.