O-I Glass, Inc. $OI Shares Acquired by Huber Capital Management LLC

Key Points

• Huber Capital Management LLC increased its stake in O-I Glass, Inc. by 110.0%, now owning approximately 427,265 shares valued at $4.9 million.
• O-I Glass reported earnings of $0.53 per share for the last quarter, beating analysts' estimates of $0.41, despite a 1.3% decline in year-over-year revenue.
• Analysts have a Moderate Buy rating on O-I Glass with an average price target of $17.00, with many firms raising their targets recently.

Huber Capital Management LLC grew its stake in O-I Glass, Inc. (NYSE:OI - Free Report) by 110.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 427,265 shares of the industrial products company's stock after buying an additional 223,850 shares during the quarter. Huber Capital Management LLC owned 0.28% of O-I Glass worth $4,901,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Barclays PLC increased its holdings in O-I Glass by 4.3% in the fourth quarter. Barclays PLC now owns 272,427 shares of the industrial products company's stock valued at $2,954,000 after buying an additional 11,266 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in O-I Glass by 9.0% during the fourth 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 last quarter. MetLife Investment Management LLC boosted its holdings in O-I Glass by 5.9% in the fourth quarter. MetLife Investment Management LLC now owns 94,006 shares of the industrial products company's stock valued at $1,019,000 after purchasing an additional 5,271 shares in the last quarter. Hsbc Holdings PLC increased its stake in O-I Glass by 323.0% in the fourth quarter. Hsbc Holdings PLC now owns 131,761 shares of the industrial products company's stock valued at $1,422,000 after purchasing an additional 100,612 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in O-I Glass during the fourth quarter worth approximately $2,324,000. 97.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at O-I Glass

In related news, SVP Darrow A. Abrahams bought 3,828 shares of O-I Glass stock in a transaction that occurred on Tuesday, August 5th. The shares were purchased at an average price of $13.05 per share, with a total value of $49,955.40. Following the purchase, the senior vice president owned 184,447 shares in the company, valued at $2,407,033.35. This represents a 2.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gordon Hardie purchased 8,000 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were bought at an average cost of $13.10 per share, with a total value of $104,800.00. Following the transaction, the chief executive officer directly owned 515,817 shares of the company's stock, valued at $6,757,202.70. This represents a 1.58% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.93% of the company's stock.

O-I Glass Price Performance

OI stock traded down $0.05 during trading on Friday, reaching $12.99. 940,423 shares of the company were exchanged, compared to its average volume of 1,405,829. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.77 and a current ratio of 1.24. The stock's 50 day moving average price is $14.14 and its 200 day moving average price is $12.86. O-I Glass, Inc. has a 52-week low of $9.23 and a 52-week high of $16.04. The company has a market cap of $2.00 billion, a P/E ratio of -7.87, a PEG ratio of 0.25 and a beta of 0.92.

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, topping the consensus estimate of $0.41 by $0.12. O-I Glass had a positive return on equity of 13.70% and a negative net margin of 3.95%.The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the company earned $0.44 EPS. The company's quarterly revenue was down 1.3% on a year-over-year basis. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. As a group, analysts predict that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

OI has been the subject of several research analyst reports. Citigroup increased their price objective on O-I Glass from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Wall Street Zen raised shares of O-I Glass from a "hold" rating to a "buy" rating in a report on Sunday, June 29th. Wells Fargo & Company restated a "mixed" rating on shares of O-I Glass in a research report on Monday, August 4th. Truist Financial set a $21.00 price objective on O-I Glass and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, UBS Group reaffirmed a "buy" rating and set a $19.00 price target (up from $17.00) on shares of O-I Glass in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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.