Petrus Trust Company LTA Sells 13,426 Shares of O-I Glass, Inc. $OI

Petrus Trust Company LTA trimmed its holdings in shares of O-I Glass, Inc. (NYSE:OI) by 50.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,999 shares of the industrial products company’s stock after selling 13,426 shares during the period. Petrus Trust Company LTA’s holdings in O-I Glass were worth $149,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in OI. Northern Trust Corp raised its stake in shares of O-I Glass by 8.5% during the 4th quarter. Northern Trust Corp now owns 1,738,277 shares of the industrial products company’s stock worth $18,843,000 after purchasing an additional 135,989 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of O-I Glass during the 4th quarter worth $1,199,000. Baird Financial Group Inc. increased its holdings in O-I Glass by 9.6% in the 4th quarter. Baird Financial Group Inc. now owns 16,152 shares of the industrial products company’s stock worth $175,000 after acquiring an additional 1,410 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in O-I Glass in the 4th quarter worth about $107,000. Finally, Lighthouse Investment Partners LLC increased its holdings in O-I Glass by 3.2% in the 4th quarter. Lighthouse Investment Partners LLC now owns 161,548 shares of the industrial products company’s stock worth $1,751,000 after acquiring an additional 5,083 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Bank of America reissued a “neutral” rating and issued a $17.00 price objective (up previously from $15.00) on shares of O-I Glass in a report on Wednesday, July 9th. Truist Financial set a $21.00 price objective on O-I Glass and gave the stock a “buy” rating in a report on Friday, July 11th. UBS Group reaffirmed a “buy” rating and set a $19.00 target price (up previously from $17.00) on shares of O-I Glass in a report on Wednesday, July 9th. Citigroup lifted their target price on O-I Glass from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, July 3rd. Finally, BNP Paribas set a $18.00 target price on O-I Glass in a report on Wednesday, June 25th. One 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 stock. According to MarketBeat, O-I Glass currently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Insider Buying and Selling

In other news, SVP Darrow A. Abrahams bought 3,828 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was bought at an average price of $13.05 per share, for a total transaction of $49,955.40. Following the transaction, the senior vice president directly owned 184,447 shares of the company’s stock, valued at $2,407,033.35. This represents a 2.12% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gordon Hardie bought 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was purchased at an average price of $13.10 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 $6,757,202.70. The trade was a 1.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.49% of the company’s stock.

O-I Glass Stock Performance

Shares of OI opened at $12.85 on Wednesday. The company has a market cap of $1.98 billion, a PE ratio of -7.79, a price-to-earnings-growth ratio of 0.25 and a beta of 0.93. The company has a current ratio of 1.24, a quick ratio of 0.77 and a debt-to-equity ratio of 3.58. The stock has a 50-day moving average price of $13.83 and a 200-day moving average price of $12.92. O-I Glass, Inc. has a 12-month low of $9.23 and a 12-month high of $16.04.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.12. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.70 billion. O-I Glass had a positive return on equity of 13.70% and a negative net margin of 3.95%.The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the company posted $0.44 EPS. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. As a group, equities analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

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.