Villanova Investment Management Co LLC Trims Stake in 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 position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 65.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,051 shares of the industrial products company's stock after selling 86,322 shares during the period. Villanova Investment Management Co LLC's holdings in O-I Glass were worth $528,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in OI. Russell Investments Group Ltd. lifted its stake in O-I Glass by 1.5% in the first quarter. Russell Investments Group Ltd. now owns 70,572 shares of the industrial products company's stock worth $809,000 after purchasing an additional 1,074 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of O-I Glass by 79.3% in the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock worth $30,000 after buying an additional 1,142 shares during the period. SummerHaven Investment Management LLC lifted its stake in shares of O-I Glass by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 75,226 shares of the industrial products company's stock worth $863,000 after acquiring an additional 1,204 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in O-I Glass by 9.6% during the 4th quarter. Baird Financial Group Inc. now owns 16,152 shares of the industrial products company's stock valued at $175,000 after acquiring an additional 1,410 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in O-I Glass by 4.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 52,337 shares of the industrial products company's stock valued at $600,000 after acquiring an additional 2,104 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors.

Insider Activity at O-I Glass

In other O-I Glass news, CEO Gordon Hardie bought 8,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were purchased at an average price of $13.10 per share, for a total transaction of $104,800.00. Following the transaction, the chief executive officer directly owned 515,817 shares of the company's stock, valued at approximately $6,757,202.70. This represents a 1.58% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Darrow A. Abrahams purchased 3,828 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was bought at an average cost of $13.05 per share, for a total transaction of $49,955.40. Following the purchase, the senior vice president directly owned 184,447 shares in the company, valued at $2,407,033.35. This trade represents a 2.12% increase in their position. The disclosure for this purchase can be found here. 0.93% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

OI has been the subject of several research analyst reports. Wall Street Zen upgraded O-I Glass from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Bank of America reiterated a "neutral" rating and set a $17.00 price objective (up previously from $15.00) on shares of O-I Glass in a report on Wednesday, July 9th. BNP Paribas Exane initiated coverage on shares of O-I Glass in a research report on Wednesday, June 25th. They issued an "outperform" rating and a $18.00 price objective for the company. Citigroup raised their target price on shares of O-I Glass from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Finally, UBS Group reiterated a "buy" rating and issued a $19.00 price target (up previously from $17.00) on shares of O-I Glass in a 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 stock. According to data from MarketBeat.com, O-I Glass has a consensus rating of "Moderate Buy" and an average target price of $17.00.

O-I Glass Stock Down 1.9%

OI opened at $12.64 on Thursday. The company has a fifty day moving average of $13.77 and a two-hundred day moving average of $12.91. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -7.66, a PEG ratio of 0.25 and a beta of 0.93. O-I Glass, Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $16.04. 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 posted its earnings results 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 negative net margin of 3.95% and a positive return on equity of 13.70%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the company posted $0.44 EPS. The company's revenue for the quarter was down 1.3% on a year-over-year basis. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. On average, research analysts expect that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

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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