Y Intercept Hong Kong Ltd Has $1.97 Million Stock Position in O-I Glass, Inc. $OI

Key Points

• Y Intercept Hong Kong Ltd increased its stake in O-I Glass by 222.9% in the first quarter, ending with 187,346 shares valued at about $1.97 million.
• Wall Street sentiment on O-I Glass is mixed, with several firms cutting price targets; the stock’s current consensus rating is Hold and the average target price is $15.14.
• O-I Glass reported Q1 earnings of $0.05 per share, missing estimates, though revenue of $1.54 billion beat expectations. The company also said executives recently bought shares, even as the stock traded down and remains well below its 52-week high.

Y Intercept Hong Kong Ltd boosted its stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 222.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 187,346 shares of the industrial products company's stock after acquiring an additional 129,331 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.12% of O-I Glass worth $1,969,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OI. Dimensional Fund Advisors LP lifted its position in shares of O-I Glass by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,509,444 shares of the industrial products company's stock worth $125,600,000 after purchasing an additional 277,205 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of O-I Glass by 0.7% during the third quarter. Alliancebernstein L.P. now owns 7,996,786 shares of the industrial products company's stock valued at $103,718,000 after purchasing an additional 56,945 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of O-I Glass by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 3,783,387 shares of the industrial products company's stock valued at $55,852,000 after purchasing an additional 22,430 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of O-I Glass by 288.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,215,632 shares of the industrial products company's stock valued at $47,463,000 after purchasing an additional 2,388,299 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in O-I Glass in the 4th quarter worth approximately $40,090,000. Institutional investors and hedge funds own 97.24% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on OI. Wells Fargo & Company downgraded O-I Glass from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $18.00 to $13.00 in a report on Friday, March 20th. Truist Financial reissued a "buy" rating and issued a $14.00 target price (down from $15.00) on shares of O-I Glass in a research note on Thursday, April 30th. UBS Group dropped their target price on O-I Glass from $21.00 to $18.00 and set a "buy" rating for the company in a research report on Friday, April 10th. Weiss Ratings lowered O-I Glass from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 30th. Finally, Citigroup decreased their price target on O-I Glass from $12.00 to $10.00 and set a "neutral" rating on the stock in a report on Monday, May 4th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, O-I Glass currently has an average rating of "Hold" and an average target price of $15.14.

Insider Activity

In related news, SVP Eduardo Restrepo acquired 3,309 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of $8.98 per share, for a total transaction of $29,714.82. Following the completion of the acquisition, the senior vice president owned 94,199 shares of the company's stock, valued at $845,907.02. This trade represents a 3.64% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Darrow A. Abrahams acquired 2,774 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $9.04 per share, with a total value of $25,076.96. Following the acquisition, the senior vice president directly owned 235,928 shares of the company's stock, valued at $2,132,789.12. The trade was a 1.19% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 17,083 shares of company stock valued at $157,312 in the last 90 days. 1.00% of the stock is owned by company insiders.

O-I Glass Trading Down 3.2%

OI opened at $9.55 on Thursday. The firm has a 50 day simple moving average of $9.01 and a 200 day simple moving average of $11.76. O-I Glass, Inc. has a fifty-two week low of $7.75 and a fifty-two week high of $16.91. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -7.83, a price-to-earnings-growth ratio of 1.13 and a beta of 0.62. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.26 and a quick ratio of 0.73.

O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.04). O-I Glass had a negative net margin of 2.91% and a positive return on equity of 13.65%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the business posted $0.40 earnings per share. O-I Glass's revenue was down 1.7% compared to the same quarter last year. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. On average, sell-side analysts anticipate that O-I Glass, Inc. will post 1.2 earnings per share for the current year.

About O-I Glass

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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