O-I Glass, Inc. $OI Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. decreased its position in O-I Glass, Inc. (NYSE:OI) by 4.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,454,465 shares of the industrial products company’s stock after selling 824,253 shares during the quarter. Vanguard Group Inc. owned 11.93% of O-I Glass worth $211,673,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in O-I Glass by 2.3% in the first quarter. Principal Financial Group Inc. now owns 767,260 shares of the industrial products company’s stock valued at $8,800,000 after purchasing an additional 17,254 shares during the last quarter. SG Americas Securities LLC increased its stake in O-I Glass by 117.7% in the first quarter. SG Americas Securities LLC now owns 45,766 shares of the industrial products company’s stock valued at $525,000 after purchasing an additional 24,743 shares during the last quarter. Northern Trust Corp increased its stake in O-I Glass by 8.5% in the fourth quarter. Northern Trust Corp now owns 1,738,277 shares of the industrial products company’s stock valued at $18,843,000 after purchasing an additional 135,989 shares during the last quarter. GAMMA Investing LLC increased its stake in 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 valued at $30,000 after purchasing an additional 1,142 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in O-I Glass in the fourth quarter valued at approximately $1,199,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

Insider Buying and Selling at O-I Glass

In other O-I Glass news, CEO Gordon Hardie bought 8,000 shares of O-I Glass stock in a transaction on Tuesday, August 5th. The stock was bought at an average price of $13.10 per share, with a total value of $104,800.00. Following the completion of the acquisition, the chief executive officer owned 515,817 shares in the company, valued at $6,757,202.70. The trade was a 1.58% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Darrow A. Abrahams bought 3,828 shares of O-I Glass stock in a transaction on Tuesday, August 5th. The stock was acquired at an average cost of $13.05 per share, with a total value of $49,955.40. Following the acquisition, the senior vice president owned 184,447 shares of the company’s stock, 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. 1.49% of the stock is owned by company insiders.

O-I Glass Price Performance

Shares of NYSE OI opened at $12.9550 on Wednesday. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.24 and a quick ratio of 0.77. The stock has a fifty day moving average price of $14.23 and a 200 day moving average price of $12.77. O-I Glass, Inc. has a 1-year low of $9.23 and a 1-year high of $16.04. The company has a market cap of $2.00 billion, a PE ratio of -7.85, a P/E/G ratio of 0.25 and a beta of 0.92.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.12. O-I Glass had a positive return on equity of 13.70% and a negative net margin of 3.95%.The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the company earned $0.44 earnings per share. 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. Sell-side analysts forecast that O-I Glass, Inc. will post 1.33 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on OI shares. 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. UBS Group reiterated a “buy” rating and issued a $19.00 price target (up from $17.00) on shares of O-I Glass in a research note on Wednesday, July 9th. Citigroup increased their price target on shares of O-I Glass from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, July 3rd. Wells Fargo & Company reiterated a “mixed” rating on shares of O-I Glass in a research note on Monday, August 4th. Finally, BNP Paribas Exane initiated coverage on shares of O-I Glass in a research note on Wednesday, June 25th. They issued an “outperform” rating and a $18.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.