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. cut its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in 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 valued at $30,000 after purchasing an additional 1,142 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in shares of O-I Glass by 1.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 75,226 shares of the industrial products company's stock valued at $863,000 after acquiring an additional 1,204 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of O-I Glass by 9.6% in the 4th quarter. Baird Financial Group Inc. now owns 16,152 shares of the industrial products company's stock valued at $175,000 after acquiring an additional 1,410 shares in the last quarter. Guggenheim Capital LLC lifted its position in shares of O-I Glass by 9.9% in the 4th quarter. Guggenheim Capital LLC now owns 22,777 shares of the industrial products company's stock valued at $247,000 after acquiring an additional 2,044 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of O-I Glass by 4.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 52,337 shares of the industrial products company's stock valued at $600,000 after acquiring an additional 2,104 shares in the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at O-I Glass

In other O-I Glass news, SVP Darrow A. Abrahams purchased 3,828 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were bought at an average price of $13.05 per share, for a total transaction of $49,955.40. Following the purchase, the senior vice president directly owned 184,447 shares in the company, 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 can be accessed through this link. Also, CEO Gordon Hardie purchased 8,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were acquired at an average price of $13.10 per share, for a total transaction of $104,800.00. Following the purchase, the chief executive officer owned 515,817 shares in the company, valued at $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. Corporate insiders own 0.93% of the company's stock.

O-I Glass Stock Up 2.8%

O-I Glass stock traded up $0.37 during trading hours on Friday, hitting $13.39. The company had a trading volume of 1,268,131 shares, compared to its average volume of 1,881,105. The firm has a market capitalization of $2.06 billion, a P/E ratio of -8.12, a price-to-earnings-growth ratio of 0.26 and a beta of 0.92. 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 firm's fifty day moving average is $14.20 and its 200-day moving average is $12.80. O-I Glass, Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $16.04.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.12. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates 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 in the prior year, the business earned $0.44 EPS. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. On average, research analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on OI. Citigroup upped their price target on shares of O-I Glass from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. 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 target on shares of O-I Glass and gave the company a "buy" rating in a research report on Friday, July 11th. 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, BNP Paribas set a $18.00 price objective on shares of O-I Glass in a research note on Wednesday, June 25th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock 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.