LSV Asset Management Acquires 199,366 Shares of O-I Glass, Inc. $OI

Key Points

• LSV Asset Management increased its stake in O-I Glass by 12.4% in the fourth quarter, buying 199,366 additional shares and bringing its total holdings to 1.8 million shares worth about $26.6 million.
• Institutional ownership in O-I Glass remains extremely high at 97.24%, with several other funds also modestly adding to positions during the period.
• Analysts remain cautious on the stock: O-I Glass has a consensus Hold rating with an average price target of $15.50, while recent earnings missed EPS estimates even though revenue topped expectations.

LSV Asset Management lifted its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 12.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,801,844 shares of the industrial products company's stock after acquiring an additional 199,366 shares during the quarter. LSV Asset Management owned approximately 1.17% of O-I Glass worth $26,595,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its stake in shares of O-I Glass by 1.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 37,828 shares of the industrial products company's stock worth $558,000 after acquiring an additional 701 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of O-I Glass by 87.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company's stock worth $26,000 after acquiring an additional 830 shares during the period. ProShare Advisors LLC boosted its stake in shares of O-I Glass by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 29,887 shares of the industrial products company's stock worth $441,000 after acquiring an additional 911 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of O-I Glass by 64.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company's stock worth $35,000 after acquiring an additional 918 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of O-I Glass by 1.2% during the 4th quarter. State of Alaska Department of Revenue now owns 84,929 shares of the industrial products company's stock worth $1,253,000 after acquiring an additional 975 shares during the period. 97.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OI has been the subject of several research analyst reports. Royal Bank Of Canada set a $14.00 target price on O-I Glass in a research note on Friday, April 17th. Zacks Research cut O-I Glass from a "hold" rating to a "strong sell" rating in a report on Tuesday, March 3rd. Wells Fargo & Company cut O-I Glass from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $18.00 to $13.00 in a report on Friday, March 20th. UBS Group dropped their price target on O-I Glass from $21.00 to $18.00 and set a "buy" rating for the company in a report on Friday, April 10th. Finally, Citigroup dropped their price target on O-I Glass from $12.00 to $10.00 and set a "neutral" rating for the company in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $15.50.

O-I Glass Stock Performance

NYSE:OI opened at $8.84 on Monday. The stock has a market cap of $1.35 billion, a P/E ratio of -7.24, a PEG ratio of 1.01 and a beta of 0.65. The stock has a 50 day simple moving average of $10.00 and a 200 day simple moving average of $12.83. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 3.35. O-I Glass, Inc. has a 1-year low of $8.00 and a 1-year high of $16.91.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.04). The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.47 billion. O-I Glass had a positive return on equity of 13.65% and a negative net margin of 2.91%.The business's revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. Research analysts anticipate that O-I Glass, Inc. will post 1.2 earnings per share for the current year.

Insider Buying and Selling at O-I Glass

In related news, SVP Darrow A. Abrahams acquired 2,774 shares of the company's stock in a transaction on Monday, May 11th. The stock was purchased at an average cost of $9.04 per share, with a total value of $25,076.96. Following the acquisition, the senior vice president directly owned 235,928 shares of the company's stock, valued at approximately $2,132,789.12. The trade was a 1.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eduardo Restrepo acquired 3,309 shares of the company's stock in a transaction on Thursday, May 14th. The stock was bought at an average cost of $8.98 per share, with a total value of $29,714.82. Following the completion of the acquisition, the senior vice president directly owned 94,199 shares in the company, valued at approximately $845,907.02. This represents a 3.64% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 17,083 shares of company stock valued at $157,312 in the last three months. Corporate insiders own 1.00% of the company's stock.

About O-I Glass

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.

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