Trexquant Investment LP Makes New Investment in O-I Glass, Inc. $OI

Key Points

• Trexquant Investment LP has initiated a new position in O-I Glass, Inc. by acquiring 188,938 shares valued at approximately $2,167,000 in Q1.
• Institutional investors now hold 97.24% of O-I Glass' stock, indicating significant interest from larger investment firms.
• The company's stock received a consensus rating of "Moderate Buy" from analysts, with an average target price of $17.00.

Trexquant Investment LP purchased a new stake in O-I Glass, Inc. (NYSE:OI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 188,938 shares of the industrial products company's stock, valued at approximately $2,167,000. Trexquant Investment LP owned 0.12% of O-I Glass at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Huber Capital Management LLC boosted its position in O-I Glass by 110.0% during the first quarter. Huber Capital Management LLC now owns 427,265 shares of the industrial products company's stock worth $4,901,000 after purchasing an additional 223,850 shares in the last quarter. Ieq Capital LLC purchased a new stake in O-I Glass during the first quarter worth $303,000. JB Capital Partners LP purchased a new stake in O-I Glass during the first quarter worth $1,090,000. MetLife Investment Management LLC boosted its position in O-I Glass by 1,043.3% during the first quarter. MetLife Investment Management LLC now owns 1,074,764 shares of the industrial products company's stock worth $12,328,000 after purchasing an additional 980,758 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in O-I Glass during the first quarter worth $85,000. 97.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OI. UBS Group reiterated a "buy" rating and set a $19.00 target price (up from $17.00) on shares of O-I Glass in a research report on Wednesday, July 9th. BNP Paribas Exane initiated coverage on O-I Glass in a research report on Wednesday, June 25th. They set an "outperform" rating and a $18.00 target price on the stock. Wells Fargo & Company restated a "mixed" rating on shares of O-I Glass in a research report on Monday, August 4th. Wall Street Zen upgraded 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 O-I Glass in a research report on Wednesday, June 25th. One research 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $17.00.

O-I Glass Trading Down 1.9%

NYSE OI traded down $0.25 during trading hours on Wednesday, hitting $12.64. 1,186,064 shares of the company's stock were exchanged, compared to its average volume of 1,366,534. The business's 50 day moving average is $13.77 and its 200-day moving average is $12.91. O-I Glass, Inc. has a 12-month low of $9.23 and a 12-month high of $16.04. The firm has a market capitalization of $1.95 billion, a P/E ratio of -7.66, a price-to-earnings-growth ratio of 0.25 and a beta of 0.93. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.77 and a current ratio of 1.24.

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

Insider Activity

In other O-I Glass news, SVP Darrow A. Abrahams bought 3,828 shares of O-I Glass stock in a transaction that occurred on Tuesday, August 5th. The shares were purchased at an average cost of $13.05 per share, for a total transaction of $49,955.40. Following the completion of the transaction, the senior vice president owned 184,447 shares of the company's stock, valued at $2,407,033.35. This represents a 2.12% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gordon Hardie bought 8,000 shares of O-I Glass stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 515,817 shares of the company's stock, valued at $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 0.93% of the company's stock.

About O-I Glass

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.