O-I Glass, Inc. (NYSE:OI) SVP Darrow A. Abrahams Purchases 3,828 Shares

Key Points

• O-I Glass, Inc. SVP Darrow A. Abrahams purchased 3,828 shares at an average cost of $13.05 each, increasing his total ownership to 184,447 shares, valued at approximately $2.4 million.
• O-I Glass stock saw a 2.8% increase in value, closing at $13.35 with trading volume lower than its average.
• In recent earnings reports, O-I Glass reported an EPS of $0.53, exceeding estimates, although its quarterly revenue decreased by 1.3% year-over-year.

O-I Glass, Inc. (NYSE:OI - Get Free Report) SVP Darrow A. Abrahams acquired 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 purchase, the senior vice president directly owned 184,447 shares of the company's stock, valued at approximately $2,407,033.35. This trade represents a 2.12% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

O-I Glass Stock Up 2.8%

OI stock traded up $0.37 during mid-day trading on Thursday, hitting $13.35. 1,218,416 shares of the company were exchanged, compared to its average volume of 1,572,188. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.77 and a current ratio of 1.24. The firm has a market cap of $2.06 billion, a P/E ratio of -8.09, a P/E/G ratio of 0.25 and a beta of 0.92. The firm's 50 day simple moving average is $14.23 and its 200 day simple moving average is $12.64. O-I Glass, Inc. has a 1-year low of $9.23 and a 1-year high of $16.04.

O-I Glass (NYSE:OI - Get Free Report) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.41 by $0.12. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.70 billion. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. The business'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. On average, sell-side analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

Several hedge funds have recently made changes to their positions in OI. Cooper Creek Partners Management LLC grew its stake in shares of O-I Glass by 18.2% in the fourth quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company's stock valued at $120,132,000 after buying an additional 1,705,216 shares in the last quarter. FMR LLC grew its stake in shares of O-I Glass by 6.9% in the fourth quarter. FMR LLC now owns 10,054,398 shares of the industrial products company's stock valued at $108,990,000 after buying an additional 647,237 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of O-I Glass by 9.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,449,472 shares of the industrial products company's stock valued at $80,749,000 after buying an additional 617,460 shares in the last quarter. Levin Capital Strategies L.P. boosted its position in O-I Glass by 6.0% during the first quarter. Levin Capital Strategies L.P. now owns 2,915,106 shares of the industrial products company's stock worth $33,436,000 after purchasing an additional 164,669 shares during the period. Finally, Private Management Group Inc. boosted its position in O-I Glass by 1.1% during the first quarter. Private Management Group Inc. now owns 2,868,100 shares of the industrial products company's stock worth $32,897,000 after purchasing an additional 29,827 shares during the period. 97.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OI. Truist Financial set a $21.00 target price on shares of O-I Glass and gave the stock a "buy" rating in a research report on Friday, July 11th. BNP Paribas set a $18.00 price objective on shares of O-I Glass in a research note on Wednesday, June 25th. Wall Street Zen upgraded shares of O-I Glass from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Wells Fargo & Company restated a "mixed" rating on shares of O-I Glass in a research note on Monday. Finally, Bank of America restated a "neutral" rating and issued a $17.00 price objective (up previously from $15.00) on shares of O-I Glass in a research note on Wednesday, July 9th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, O-I Glass presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

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.

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