O-I Glass, Inc. (NYSE:OI) SVP Buys $49,955.40 in Stock

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 purchased 3,828 shares of O-I Glass stock in a transaction on Tuesday, August 5th. The shares were acquired at an average price of $13.05 per share, for a total transaction of $49,955.40. Following the completion of the transaction, the senior vice president directly owned 184,447 shares of the company's stock, valued at approximately $2,407,033.35. The trade was a 2.12% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

O-I Glass Price Performance

NYSE:OI traded down $0.41 during midday trading on Monday, hitting $13.01. 179,875 shares of the stock were exchanged, compared to its average volume of 1,560,094. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -7.93, a P/E/G ratio of 0.26 and a beta of 0.92. O-I Glass, Inc. has a one year low of $9.23 and a one year high of $16.04. The business has a 50-day moving average price of $14.24 and a two-hundred day moving average price of $12.70. The company has a current ratio of 1.24, a quick ratio of 0.77 and a debt-to-equity ratio of 3.58.

O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.70 billion. During the same period in the prior year, the company posted $0.44 earnings per share. O-I Glass's revenue for the quarter was down 1.3% on a year-over-year basis. Sell-side analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current year.

Analyst Upgrades and Downgrades

OI has been the subject of several research analyst reports. Truist Financial set a $21.00 price objective on O-I Glass and gave the stock a "buy" rating in a report on Friday, July 11th. UBS Group reaffirmed a "buy" rating and set a $19.00 price objective (up from $17.00) on shares of O-I Glass in a report on Wednesday, July 9th. BNP Paribas set a $18.00 price target on O-I Glass in a research report on Wednesday, June 25th. Citigroup upped their price objective on O-I Glass from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Finally, BNP Paribas Exane began coverage on O-I Glass in a research note on Wednesday, June 25th. They issued an "outperform" rating and a $18.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, O-I Glass presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.00.

Institutional Investors Weigh In On O-I Glass

Several hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of O-I Glass by 79.3% in the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 1,142 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in O-I Glass during the 1st quarter valued at $30,000. Sterling Capital Management LLC increased its stake in shares of O-I Glass by 807.2% in the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock worth $53,000 after acquiring an additional 4,343 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of O-I Glass during the 1st quarter valued at about $85,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of O-I Glass during the 4th quarter valued at about $89,000. 97.24% of the stock is currently owned by institutional investors and hedge funds.

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.