Renaissance Technologies LLC Decreases Stock Position in O-I Glass, Inc. $OI

Key Points

• Renaissance Technologies cut its O-I Glass stake by 91.9% in the first quarter, selling 618,400 shares and retaining 54,700 shares worth approximately $575,000.
• Institutional sentiment was mixed: several funds increased their holdings, but analysts maintained an overall “Hold” rating, with an average price target of $10.19 after multiple target reductions.
• O-I Glass faces continued recovery concerns, including weak demand, elevated energy costs and a quarterly earnings miss. The stock opened at $6.79, near its 12-month low of $6.61, while revenue declined 2.2% year over year.

Renaissance Technologies LLC lessened its stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 91.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,700 shares of the industrial products company's stock after selling 618,400 shares during the period. Renaissance Technologies LLC's holdings in O-I Glass were worth $575,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its position in shares of O-I Glass by 32.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,246,337 shares of the industrial products company's stock worth $44,629,000 after buying an additional 1,030,705 shares in the last quarter. Cetera Investment Advisers grew its holdings in O-I Glass by 15.6% during the 1st quarter. Cetera Investment Advisers now owns 44,720 shares of the industrial products company's stock valued at $470,000 after buying an additional 6,027 shares in the last quarter. Icon Advisers Inc. Co. increased its stake in O-I Glass by 7.5% in the 1st quarter. Icon Advisers Inc. Co. now owns 285,000 shares of the industrial products company's stock worth $2,995,000 after acquiring an additional 20,000 shares during the last quarter. First Trust Advisors LP increased its stake in O-I Glass by 122.7% in the 1st quarter. First Trust Advisors LP now owns 100,718 shares of the industrial products company's stock worth $1,059,000 after acquiring an additional 55,491 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in O-I Glass by 8.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,238,635 shares of the industrial products company's stock worth $97,094,000 after acquiring an additional 729,191 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company's stock.

Trending Headlines about O-I Glass

Here are the key news stories impacting O-I Glass this week:

• Positive Sentiment: Zacks Research raised its EPS estimates for O-I Glass’ first and second quarters of 2028 to $0.66 and $0.72, respectively, from $0.63 and $0.65. These increases suggest analysts still see potential for an earnings recovery over the longer term, although Zacks maintained a “Hold” rating. Zacks Research estimate update
• Neutral Sentiment: Zacks’ revisions are mixed: estimates were raised for some 2028 quarters but reduced for several 2026–2027 periods. The firm now projects FY2026 EPS of $0.37 and FY2027 EPS of $1.29, while retaining a “Hold” rating. Zacks Research analysts cut earnings estimates
• Negative Sentiment: Zacks sharply lowered its FY2026 EPS forecast to $0.37 from $1.21, cut third-quarter 2026 EPS to $0.14 from $0.51, and reduced fourth-quarter 2026 EPS to $0.09 from $0.39. It also lowered FY2027 EPS to $1.29 from $1.86, with additional cuts to second- and third-quarter 2027 estimates. The revisions indicate a slower recovery than previously expected. Zacks Research earnings estimate revisions
• Negative Sentiment: RBC downgraded O-I Glass, citing weak demand and elevated energy costs that are delaying the company’s turnaround. The downgrade reinforces concerns about margins, operating momentum and the timing of earnings recovery. RBC downgrade of O-I Glass

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Citigroup lowered their target price on O-I Glass from $10.00 to $8.00 and set a "neutral" rating for the company in a research report on Friday, July 31st. Wells Fargo & Company decreased their price target on shares of O-I Glass from $13.00 to $12.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 15th. Zacks Research upgraded shares of O-I Glass from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Truist Financial dropped their price objective on shares of O-I Glass from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Finally, Bank of America restated an "underperform" rating and issued a $11.00 target price on shares of O-I Glass in a report on Tuesday, July 14th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $10.19.

O-I Glass Trading Down 0.1%

OI stock opened at $6.79 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 8.89. O-I Glass, Inc. has a twelve month low of $6.61 and a twelve month high of $16.91. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -0.90, a price-to-earnings-growth ratio of 2.20 and a beta of 0.66. The firm's fifty day simple moving average is $8.70 and its two-hundred day simple moving average is $10.43.

O-I Glass (NYSE:OI - Get Free Report) last announced its earnings results on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.15). The firm had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.68 billion. O-I Glass had a negative net margin of 18.13% and a positive return on equity of 10.40%. The company's revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 EPS. As a group, analysts anticipate that O-I Glass, Inc. will post 0.42 earnings per share for the current year.

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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