Villanova Investment Management Co LLC Sells 86,322 Shares of O-I Glass, Inc. $OI

Key Points

• Villanova Investment Management Co LLC significantly reduced its stake in O-I Glass, Inc., cutting its position by 65.2% in the first quarter, leaving it with 46,051 shares valued at $528,000.
• CEO Gordon Hardie and SVP Darrow A. Abrahams recently made stock purchases, increasing their holdings in O-I Glass by 1.58% and 2.12% respectively.
• Despite the company's recent financial performance, several analysts have upgraded O-I Glass, with a consensus rating of "Moderate Buy" and a target price of $17.00.

Villanova Investment Management Co LLC cut its stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 65.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,051 shares of the industrial products company's stock after selling 86,322 shares during the quarter. Villanova Investment Management Co LLC's holdings in O-I Glass were worth $528,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Levin Capital Strategies L.P. boosted its stake in shares of O-I Glass by 6.0% during the 1st quarter. Levin Capital Strategies L.P. now owns 2,915,106 shares of the industrial products company's stock worth $33,436,000 after acquiring an additional 164,669 shares in the last quarter. Private Management Group Inc. boosted its stake in shares of O-I Glass by 1.1% during the 1st quarter. Private Management Group Inc. now owns 2,868,100 shares of the industrial products company's stock worth $32,897,000 after acquiring an additional 29,827 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of O-I Glass by 20.8% during the 1st quarter. Alliancebernstein L.P. now owns 2,695,401 shares of the industrial products company's stock worth $30,916,000 after acquiring an additional 464,557 shares in the last quarter. IPG Investment Advisors LLC boosted its stake in shares of O-I Glass by 11.4% during the 1st quarter. IPG Investment Advisors LLC now owns 2,050,708 shares of the industrial products company's stock worth $23,522,000 after acquiring an additional 210,040 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of O-I Glass by 7.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,992,887 shares of the industrial products company's stock worth $22,858,000 after acquiring an additional 144,030 shares in the last quarter. 97.24% of the stock is owned by institutional investors.

Insider Buying and Selling at O-I Glass

In related news, SVP Darrow A. Abrahams bought 3,828 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were bought at an average cost of $13.05 per share, for a total transaction of $49,955.40. Following the completion of the acquisition, the senior vice president directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gordon Hardie bought 8,000 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were bought at an average price of $13.10 per share, for a total transaction of $104,800.00. Following the completion of the acquisition, the chief executive officer owned 515,817 shares of the company's stock, valued at approximately $6,757,202.70. This represents a 1.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.93% of the stock is currently owned by company insiders.

O-I Glass Stock Down 0.8%

Shares of NYSE:OI traded down $0.10 during midday trading on Tuesday, hitting $12.65. 309,671 shares of the stock were exchanged, compared to its average volume of 1,534,959. 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, Inc. has a 52-week low of $9.23 and a 52-week high of $16.04. The business's fifty day simple moving average is $13.61 and its two-hundred day simple moving average is $12.97. The company has a market capitalization of $1.95 billion, a PE ratio of -7.66, a P/E/G ratio of 0.25 and a beta of 0.93.

O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share (EPS) 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 business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the company earned $0.44 earnings per share. O-I Glass's quarterly revenue 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, research analysts predict that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OI. Wells Fargo & Company reaffirmed a "mixed" rating on shares of O-I Glass in a research report on Monday, August 4th. UBS Group reaffirmed a "buy" rating and issued a $19.00 target price (up previously from $17.00) on shares of O-I Glass in a research report on Wednesday, July 9th. Citigroup raised their target price 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. BNP Paribas Exane began coverage on O-I Glass in a research report on Wednesday, June 25th. They issued an "outperform" rating and a $18.00 target price for the company. Finally, Bank of America reaffirmed a "neutral" rating and issued a $17.00 target price (up previously from $15.00) on shares of O-I Glass in a research report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus 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.