O-I Glass, Inc. $OI Stake Lowered by IPG Investment Advisors LLC

Key Points

• IPG Investment Advisors LLC cut its O-I Glass stake by 40.9% in the fourth quarter, selling 378,970 shares and leaving it with 546,693 shares valued at about $8.1 million.
• Wall Street sentiment is cautious: O-I Glass currently has a consensus “Hold” rating, with analysts’ average price target at $15.50. Recent moves included Citigroup lowering its target to $10 and Zacks cutting the stock to “Strong Sell.”
• The stock has struggled operationally and in the market, despite trading up 1.3% to $9.20. The company recently missed EPS estimates, reported lower year-over-year revenue, and insiders have been buying shares in recent weeks.

IPG Investment Advisors LLC reduced its stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 40.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 546,693 shares of the industrial products company's stock after selling 378,970 shares during the period. O-I Glass accounts for 1.4% of IPG Investment Advisors LLC's investment portfolio, making the stock its 15th biggest holding. IPG Investment Advisors LLC owned 0.36% of O-I Glass worth $8,069,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC grew its holdings 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 valued at $26,000 after acquiring an additional 830 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of O-I Glass during the 2nd quarter valued at $29,000. Smartleaf Asset Management LLC grew its holdings 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 valued at $35,000 after acquiring an additional 918 shares in the last quarter. State of Wyoming purchased a new position in shares of O-I Glass during the 2nd quarter valued at $35,000. Finally, First Horizon Corp grew its holdings in shares of O-I Glass by 2,125.5% during the 4th quarter. First Horizon Corp now owns 3,227 shares of the industrial products company's stock valued at $48,000 after acquiring an additional 3,082 shares in the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on OI shares. Citigroup lowered their price target on shares of O-I Glass from $12.00 to $10.00 and set a "neutral" rating on the stock in a report on Monday, May 4th. Truist Financial restated a "buy" rating and set a $14.00 price target (down from $15.00) on shares of O-I Glass in a report on Thursday, April 30th. Royal Bank Of Canada set a $14.00 price target on shares of O-I Glass in a report on Friday, April 17th. Zacks Research cut shares of O-I Glass from a "hold" rating to a "strong sell" rating in a report on Tuesday, March 3rd. Finally, Wall Street Zen cut shares of O-I Glass from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, O-I Glass presently has a consensus rating of "Hold" and a consensus target price of $15.50.

O-I Glass Trading Up 1.3%

Shares of NYSE:OI opened at $9.20 on Thursday. The stock has a market capitalization of $1.41 billion, a PE ratio of -7.54, a P/E/G ratio of 1.04 and a beta of 0.65. O-I Glass, Inc. has a 1 year low of $8.00 and a 1 year high of $16.91. The firm has a fifty day moving average price of $9.91 and a 200 day moving average price of $12.75. 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 (NYSE:OI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.04). The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate 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 company's revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 earnings per share. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. Analysts expect that O-I Glass, Inc. will post 1.2 EPS for the current fiscal year.

Insider Buying and Selling

In other O-I Glass news, SVP Eduardo Restrepo acquired 3,309 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $8.98 per share, for a total transaction of $29,714.82. Following the completion of the acquisition, the senior vice president owned 94,199 shares of the company's stock, valued at approximately $845,907.02. This trade represents a 3.64% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Randolph L. Burns bought 11,000 shares of the business's stock in a transaction on Friday, May 8th. The shares were purchased at an average cost of $9.32 per share, with a total value of $102,520.00. Following the transaction, the senior vice president owned 133,932 shares in the company, valued at approximately $1,248,246.24. The trade was a 8.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 17,083 shares of company stock worth $157,312. Corporate insiders own 1.00% of the company's stock.

O-I Glass Profile

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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