Russell Investments Group Ltd. Raises Stock Position in O-I Glass, Inc. $OI

Russell Investments Group Ltd. raised its stake in shares of O-I Glass, Inc. (NYSE:OI) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,572 shares of the industrial products company’s stock after purchasing an additional 1,074 shares during the quarter. Russell Investments Group Ltd.’s holdings in O-I Glass were worth $809,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in O-I Glass by 79.3% during 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 period. Point72 Asset Management L.P. purchased a new position in O-I Glass during the 4th quarter valued at $89,000. CWM LLC increased its position in O-I Glass by 623.9% during the 1st quarter. CWM LLC now owns 8,390 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 7,231 shares during the period. Point72 Hong Kong Ltd purchased a new position in O-I Glass during the 4th quarter valued at $106,000. Finally, Cubist Systematic Strategies LLC purchased a new position in O-I Glass during the 4th quarter valued at $107,000. 97.24% of the stock is owned by hedge funds and other institutional investors.

O-I Glass Stock Performance

Shares of O-I Glass stock opened at $12.99 on Friday. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of -7.87, a PEG ratio of 0.25 and a beta of 0.92. The firm’s 50-day moving average is $14.14 and its 200 day moving average is $12.85. O-I Glass, Inc. has a 1 year low of $9.23 and a 1 year high of $16.04. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.24 and a quick ratio of 0.77.

O-I Glass (NYSE:OI) last announced its quarterly earnings results 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. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.70 billion. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. O-I Glass’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 EPS. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. Sell-side analysts anticipate that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on OI shares. UBS Group reissued a “buy” rating and set a $19.00 price objective (up from $17.00) on shares of O-I Glass in a research report on Wednesday, July 9th. Citigroup upped their target price on shares of O-I Glass from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, July 3rd. BNP Paribas Exane started coverage on shares of O-I Glass in a research report on Wednesday, June 25th. They issued an “outperform” rating and a $18.00 target price on the stock. 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. Finally, Wall Street Zen raised shares of O-I Glass from a “hold” rating to a “buy” rating in a research report on Sunday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Insider Transactions at O-I Glass

In other news, CEO Gordon Hardie purchased 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The shares were bought at an average price of $13.10 per share, for a total transaction of $104,800.00. Following the purchase, the chief executive officer directly owned 515,817 shares in the company, valued at approximately $6,757,202.70. This trade represents a 1.58% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Darrow A. Abrahams purchased 3,828 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was purchased at an average price of $13.05 per share, for a total transaction of $49,955.40. Following the purchase, the senior vice president owned 184,447 shares in the company, valued at $2,407,033.35. This represents a 2.12% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.93% of the company’s stock.

O-I Glass 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.