Swiss National Bank Sells 4,400 Shares of O-I Glass, Inc. $OI

Swiss National Bank lessened its stake in O-I Glass, Inc. (NYSE:OI) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 299,624 shares of the industrial products company’s stock after selling 4,400 shares during the period. Swiss National Bank owned about 0.19% of O-I Glass worth $3,437,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of O-I Glass by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 767,260 shares of the industrial products company’s stock valued at $8,800,000 after acquiring an additional 17,254 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of O-I Glass by 117.7% in the 1st quarter. SG Americas Securities LLC now owns 45,766 shares of the industrial products company’s stock valued at $525,000 after acquiring an additional 24,743 shares during the last quarter. Northern Trust Corp lifted its stake in shares of O-I Glass by 8.5% in the 4th quarter. Northern Trust Corp now owns 1,738,277 shares of the industrial products company’s stock valued at $18,843,000 after acquiring an additional 135,989 shares during the last quarter. GAMMA Investing LLC lifted 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 acquiring an additional 1,142 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of O-I Glass in the 4th quarter valued at about $1,199,000. Institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Down 0.5%

Shares of NYSE:OI opened at $12.9260 on Thursday. O-I Glass, Inc. has a 52-week low of $9.23 and a 52-week high of $16.04. The firm has a market capitalization of $1.99 billion, a P/E ratio of -7.83, a P/E/G ratio of 0.25 and a beta of 0.92. The stock has a 50 day moving average price of $14.21 and a 200-day moving average price of $12.77. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.77 and a current ratio of 1.24.

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share (EPS) 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 analyst estimates of $1.70 billion. During the same quarter in the prior year, the company earned $0.44 EPS. The business’s revenue was down 1.3% compared to the same quarter last year. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. As a group, equities research analysts anticipate that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OI. Wall Street Zen raised O-I Glass from a “hold” rating to a “buy” rating in a research note on Sunday, June 29th. BNP Paribas Exane started coverage on O-I Glass in a research report on Wednesday, June 25th. They set an “outperform” rating and a $18.00 price target for the company. Citigroup upped their price target on O-I Glass from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, July 3rd. Truist Financial set a $21.00 price target on O-I Glass and gave the company a “buy” rating in a research report on Friday, July 11th. Finally, Wells Fargo & Company reaffirmed a “mixed” rating on shares of O-I Glass in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Insider Activity at O-I Glass

In other news, SVP Darrow A. Abrahams bought 3,828 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was purchased at an average price of $13.05 per share, with a total value of $49,955.40. Following the transaction, the senior vice president 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gordon Hardie bought 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was purchased at an average cost of $13.10 per share, with a total value of $104,800.00. Following the transaction, the chief executive officer directly owned 515,817 shares in the company, valued at approximately $6,757,202.70. This represents a 1.58% increase in their position. The disclosure for this purchase can be found here. 0.93% of the stock is currently owned by corporate insiders.

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.