Vanguard Group Inc. Has $211.67 Million Holdings in O-I Glass, Inc. $OI

Key Points

• Vanguard Group Inc. has reduced its stake in O-I Glass by 4.3%, owning 18,454,465 shares after selling 824,253 shares in the first quarter.
• CEO Gordon Hardie purchased 8,000 shares of the company at an average price of $13.10, increasing his ownership to 515,817 shares, valued at approximately $6.76 million.
• Several analysts have issued positive ratings on O-I Glass, with UBS raising its price target from $17.00 to $19.00 and Citi adjusting its target from $14.00 to $16.00.

Vanguard Group Inc. lessened its position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,454,465 shares of the industrial products company's stock after selling 824,253 shares during the period. Vanguard Group Inc. owned approximately 11.93% of O-I Glass worth $211,673,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of O-I Glass by 79.3% during the 1st 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 during the period. Sterling Capital Management LLC lifted its holdings in shares of O-I Glass by 807.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock worth $53,000 after acquiring an additional 4,343 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of O-I Glass during the 4th quarter worth approximately $89,000. CWM LLC lifted its holdings in shares of O-I Glass by 623.9% during the 1st quarter. CWM LLC now owns 8,390 shares of the industrial products company's stock worth $96,000 after acquiring an additional 7,231 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in shares of O-I Glass during the 4th quarter worth approximately $106,000. Institutional investors own 97.24% of the company's stock.

O-I Glass Trading Down 0.9%

NYSE OI traded down $0.1270 on Monday, hitting $13.2830. The company's stock had a trading volume of 1,788,538 shares, compared to its average volume of 1,860,939. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 3.58. O-I Glass, Inc. has a 1-year low of $9.23 and a 1-year high of $16.04. The company's 50-day moving average is $14.19 and its 200 day moving average is $12.82. The firm has a market cap of $2.05 billion, a PE ratio of -8.05, a PEG ratio of 0.26 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.12. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. The firm had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.70 billion. During the same period in the prior year, the company posted $0.44 EPS. The company's 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.

Insider Activity at O-I Glass

In other O-I Glass news, SVP Darrow A. Abrahams purchased 3,828 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was purchased at an average cost of $13.05 per share, for a total transaction of $49,955.40. Following the transaction, the senior vice president owned 184,447 shares in the company, valued at $2,407,033.35. The trade was a 2.12% increase in their position. The transaction 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 firm's stock in a transaction on Tuesday, August 5th. The stock was acquired at an average price of $13.10 per share, with a total value of $104,800.00. Following the completion of the transaction, the chief executive officer owned 515,817 shares in the company, valued at approximately $6,757,202.70. This trade represents a 1.58% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.49% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Truist Financial set a $21.00 price target on shares of O-I Glass and gave the stock a "buy" rating in a report on Friday, July 11th. BNP Paribas Exane assumed coverage on shares of O-I Glass in a research report on Wednesday, June 25th. They set an "outperform" rating and a $18.00 price objective for the company. Bank of America reiterated a "neutral" rating and set a $17.00 price objective (up from $15.00) on shares of O-I Glass in a research report on Wednesday, July 9th. Wall Street Zen upgraded shares of O-I Glass from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Finally, Barclays upped their price objective on shares of O-I Glass from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, O-I Glass presently has a consensus 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.