1,426,063 Shares in O-I Glass, Inc. $OI Acquired by Deroy & Devereaux Private Investment Counsel Inc.

Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in O-I Glass, Inc. (NYSE:OI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,426,063 shares of the industrial products company’s stock, valued at approximately $18,496,000. Deroy & Devereaux Private Investment Counsel Inc. owned about 0.93% of O-I Glass as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Knights of Columbus Asset Advisors LLC bought a new position in shares of O-I Glass in the 2nd quarter worth $1,329,000. Strs Ohio acquired a new position in O-I Glass in the first quarter valued at about $747,000. Castleark Management LLC bought a new position in O-I Glass during the second quarter worth about $4,942,000. Wealth Enhancement Advisory Services LLC boosted its holdings in O-I Glass by 18.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 19,493 shares of the industrial products company’s stock worth $305,000 after buying an additional 3,049 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of O-I Glass by 123.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,145,980 shares of the industrial products company’s stock worth $16,892,000 after buying an additional 633,875 shares during the period. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Stock Down 0.7%

Shares of OI stock opened at $15.81 on Friday. O-I Glass, Inc. has a 12-month low of $9.23 and a 12-month high of $16.04. The company has a quick ratio of 0.84, a current ratio of 1.33 and a debt-to-equity ratio of 3.36. The firm has a fifty day moving average of $14.31 and a 200-day moving average of $13.62. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of -16.81, a P/E/G ratio of 0.20 and a beta of 0.77.

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, November 4th. The industrial products company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. O-I Glass had a negative net margin of 2.26% and a positive return on equity of 16.02%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the business earned ($0.04) EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. O-I Glass has set its FY 2025 guidance at 1.550-1.650 EPS. As a group, equities research analysts predict that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wall Street Zen downgraded shares of O-I Glass from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 28th. Zacks Research upgraded shares of O-I Glass from a “hold” rating to a “strong-buy” rating in a report on Friday, January 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of O-I Glass in a report on Wednesday, October 8th. Citigroup upped their price objective on shares of O-I Glass from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, January 6th. Finally, Truist Financial lifted their target price on O-I Glass from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.89.

O-I Glass Profile

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.