Knights of Columbus Asset Advisors LLC Buys Shares of 90,154 O-I Glass, Inc. $OI

Key Points

• Knights of Columbus Asset Advisors LLC has acquired 90,154 shares of O-I Glass, Inc., valued at approximately $1.33 million, representing a 0.06% stake in the company.
• O-I Glass reported quarterly earnings of $0.53 EPS, exceeding analysts' estimates of $0.41, despite a 1.3% decline in revenue year-over-year.
• Several analysts have issued revised price targets for O-I Glass, with Citigroup raising its target to $16.00 and UBS Group setting a target of $19.00, reflecting a positive outlook on the stock.

Knights of Columbus Asset Advisors LLC acquired a new position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 90,154 shares of the industrial products company's stock, valued at approximately $1,329,000. Knights of Columbus Asset Advisors LLC owned approximately 0.06% of O-I Glass as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of O-I Glass by 2.3% during the first quarter. Principal Financial Group Inc. now owns 767,260 shares of the industrial products company's stock worth $8,800,000 after acquiring an additional 17,254 shares in the last quarter. SG Americas Securities LLC increased its position in shares of O-I Glass by 117.7% during the first quarter. SG Americas Securities LLC now owns 45,766 shares of the industrial products company's stock worth $525,000 after acquiring an additional 24,743 shares in the last quarter. American Century Companies Inc. increased its position in shares of O-I Glass by 11.0% during the first quarter. American Century Companies Inc. now owns 326,153 shares of the industrial products company's stock worth $3,741,000 after acquiring an additional 32,339 shares in the last quarter. GAMMA Investing LLC increased 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 acquiring an additional 1,142 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of O-I Glass during the first quarter worth $658,000. Institutional investors own 97.24% of the company's stock.

O-I Glass Stock Performance

Shares of OI stock opened at $12.43 on Tuesday. The stock has a market cap of $1.92 billion, a P/E ratio of -7.53, a P/E/G ratio of 0.25 and a beta of 0.93. 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 moving average price of $13.04 and a two-hundred day moving average price of $13.11. O-I Glass, Inc. has a one year low of $9.23 and a one year high of $16.04.

O-I Glass (NYSE:OI - Get Free Report) last announced 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 during 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 company's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 earnings per share. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. As a group, equities analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on OI shares. Citigroup increased their price objective 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. BNP Paribas set a $18.00 target price on shares of O-I Glass in a report on Wednesday, June 25th. UBS Group restated a "buy" rating and set a $19.00 target price (up previously from $17.00) on shares of O-I Glass in a report on Wednesday, July 9th. 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 target price for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of O-I Glass in a report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.00.

Insiders Place Their Bets

In other news, SVP Darrow A. Abrahams purchased 3,828 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was purchased 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 $2,407,033.35. The trade was a 2.12% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gordon Hardie purchased 8,000 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was purchased at an average price of $13.10 per share, with a total value of $104,800.00. Following the purchase, the chief executive officer owned 515,817 shares of the company's stock, valued at approximately $6,757,202.70. The trade was a 1.58% 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 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.

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