O-I Glass (NYSE:OI) SVP Purchases $102,520.00 in Stock

Key Points

• O-I Glass SVP Randolph Burns bought 11,000 shares on May 8 at an average price of $9.32, spending $102,520 and increasing his holdings by 8.95% to 133,932 shares.
• The stock was down 2.8% in Tuesday trading to $8.80, near its 52-week low of $8.00 and well below its 52-week high of $16.91.
• O-I Glass recently missed quarterly EPS estimates, reporting $0.05 versus the expected $0.09, even though revenue of $1.54 billion topped forecasts. Analysts currently have an average Hold rating with a $15.50 price target.

O-I Glass, Inc. (NYSE:OI - Get Free Report) SVP Randolph Burns purchased 11,000 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The stock was bought at an average cost of $9.32 per share, with a total value of $102,520.00. Following the completion of the purchase, the senior vice president owned 133,932 shares of the company's stock, valued at $1,248,246.24. This represents a 8.95% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

O-I Glass Trading Down 2.8%

OI stock traded down $0.25 during trading on Tuesday, reaching $8.80. The company had a trading volume of 2,176,496 shares, compared to its average volume of 2,276,339. O-I Glass, Inc. has a 52 week low of $8.00 and a 52 week high of $16.91. The company has a market cap of $1.35 billion, a P/E ratio of -7.21, a PEG ratio of 1.06 and a beta of 0.65. The business has a 50 day moving average of $10.63 and a 200 day moving average of $13.04. 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 released its quarterly earnings results 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 positive return on equity of 13.65% and a negative net margin of 2.91%.The company 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 company earned $0.40 earnings per share. O-I Glass's quarterly revenue was down 1.7% on a year-over-year basis. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. As a group, sell-side analysts forecast that O-I Glass, Inc. will post 1.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on OI. UBS Group decreased their target price on shares of O-I Glass from $21.00 to $18.00 and set a "buy" rating for the company in a research note on Friday, April 10th. Zacks Research downgraded shares of O-I Glass from a "hold" rating to a "strong sell" rating in a research note on Tuesday, March 3rd. Truist Financial reaffirmed a "buy" rating and set a $14.00 target price (down from $15.00) on shares of O-I Glass in a research note on Thursday, April 30th. Wells Fargo & Company downgraded shares of O-I Glass from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $18.00 to $13.00 in a research note on Friday, March 20th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of O-I Glass in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $15.50.

Institutional Investors Weigh In On O-I Glass

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of O-I Glass by 3.7% during the third quarter. Vanguard Group Inc. now owns 19,349,218 shares of the industrial products company's stock valued at $250,959,000 after acquiring an additional 691,989 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of O-I Glass by 8.6% during the first quarter. Dimensional Fund Advisors LP now owns 9,238,635 shares of the industrial products company's stock valued at $97,094,000 after acquiring an additional 729,191 shares in the last quarter. Alliancebernstein L.P. increased its position 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 acquiring an additional 56,945 shares in the last quarter. Geode Capital Management LLC increased its position in shares of O-I Glass by 0.6% during 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 acquiring an additional 22,430 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of O-I Glass by 288.7% during 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 acquiring an additional 2,388,299 shares in the last quarter. Institutional investors own 97.24% of the company's stock.

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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