Thompson Investment Management Inc. Decreases Position in O-I Glass, Inc. $OI

Key Points

• Thompson Investment Management Inc. decreased its position in O-I Glass by 3.4% in Q2, holding 719,286 shares worth approximately $10.6 million.
• Institutional investors now own 97.24% of O-I Glass, highlighting significant institutional interest in the company.
• O-I Glass reported Q2 earnings per share of $0.53, exceeding analysts' estimates of $0.41, though revenue decreased by 1.3% year-over-year.

Thompson Investment Management Inc. decreased its stake in O-I Glass, Inc. (NYSE:OI - Free Report) by 3.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 719,286 shares of the industrial products company's stock after selling 25,563 shares during the period. O-I Glass makes up 1.5% of Thompson Investment Management Inc.'s portfolio, making the stock its 13th biggest position. Thompson Investment Management Inc. owned 0.47% of O-I Glass worth $10,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the business. KLP Kapitalforvaltning AS lifted its stake in shares of O-I Glass by 3.1% in the second quarter. KLP Kapitalforvaltning AS now owns 33,600 shares of the industrial products company's stock worth $495,000 after acquiring an additional 1,000 shares in the last quarter. Knights of Columbus Asset Advisors LLC bought a new position in O-I Glass during the 2nd quarter worth approximately $1,329,000. SummerHaven Investment Management LLC lifted its holdings in O-I Glass by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 76,510 shares of the industrial products company's stock worth $1,128,000 after buying an additional 1,284 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in O-I Glass by 7.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 92,094 shares of the industrial products company's stock worth $1,356,000 after buying an additional 6,726 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in O-I Glass during the 2nd quarter worth approximately $351,000. Institutional investors and hedge funds own 97.24% of the company's stock.

Wall Street Analyst Weigh In

OI has been the topic of a number of research analyst reports. UBS Group reaffirmed a "buy" rating and set a $19.00 target price (up previously from $17.00) on shares of O-I Glass in a report on Wednesday, July 9th. Bank of America reaffirmed a "neutral" rating and set a $17.00 target price (up previously from $15.00) on shares of O-I Glass in a report on Wednesday, July 9th. Citigroup increased their price target on O-I Glass from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Wells Fargo & Company reiterated a "mixed" rating on shares of O-I Glass in a research report on Monday, August 4th. Finally, Wall Street Zen cut O-I Glass from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, O-I Glass currently has an average rating of "Moderate Buy" and an average price target of $17.00.

O-I Glass Stock Down 3.6%

OI opened at $11.90 on Friday. The stock's 50 day moving average price is $12.96 and its 200 day moving average price is $13.09. 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 stock has a market cap of $1.83 billion, a P/E ratio of -7.21, a P/E/G ratio of 0.24 and a beta of 0.93. O-I Glass, Inc. has a 12 month low of $9.23 and a 12 month high of $16.04.

O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.12. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.70 billion. O-I Glass had a positive return on equity of 13.70% and a negative net margin of 3.95%.The firm's quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the company posted $0.44 EPS. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. As a group, research analysts predict that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Gordon Hardie acquired 8,000 shares of O-I Glass stock in a transaction dated Tuesday, August 5th. The stock was acquired at an average cost of $13.10 per share, with a total value of $104,800.00. Following the purchase, the chief executive officer directly owned 515,817 shares in the company, valued at $6,757,202.70. The trade was a 1.58% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Darrow A. Abrahams acquired 3,828 shares of O-I Glass stock in a transaction dated Tuesday, August 5th. The shares were bought at an average cost of $13.05 per share, with a total value of $49,955.40. Following the completion of the purchase, the senior vice president owned 184,447 shares in the company, valued at approximately $2,407,033.35. This represents a 2.12% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.93% of the company's stock.

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.

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