Randolph Burns Purchases 11,000 Shares of O-I Glass (NYSE:OI) Stock

O-I Glass, Inc. (NYSE:OI) SVP Randolph Burns bought 11,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average price of $9.32 per share, with a total value of $102,520.00. Following the completion of the acquisition, the senior vice president directly owned 133,932 shares in the company, valued at $1,248,246.24. This trade represents a 8.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

O-I Glass Stock Up 2.4%

Shares of O-I Glass stock opened at $8.99 on Thursday. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.73 and a current ratio of 1.26. O-I Glass, Inc. has a 52-week low of $8.00 and a 52-week high of $16.91. The company’s 50 day moving average price is $10.45 and its 200-day moving average price is $12.99. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -7.37, a P/E/G ratio of 1.01 and a beta of 0.65.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.47 billion. O-I Glass had a negative net margin of 2.91% and a positive return on equity of 13.65%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 earnings per share. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. Equities research analysts forecast that O-I Glass, Inc. will post 1.2 EPS for the current year.

Hedge Funds Weigh In On O-I Glass

Several hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its holdings in O-I Glass by 1.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 37,828 shares of the industrial products company’s stock worth $558,000 after buying an additional 701 shares during the period. Barclays PLC grew its holdings in shares of O-I Glass by 0.3% during the 4th quarter. Barclays PLC now owns 246,766 shares of the industrial products company’s stock worth $3,642,000 after acquiring an additional 755 shares during the period. Farther Finance Advisors LLC raised its position in shares of O-I Glass by 87.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 830 shares in the last quarter. ProShare Advisors LLC raised its position in shares of O-I Glass by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 29,887 shares of the industrial products company’s stock worth $441,000 after acquiring an additional 911 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of O-I Glass by 64.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 918 shares during the period. Hedge funds and other institutional investors own 97.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on OI. Robert W. Baird set a $20.00 target price on O-I Glass in a research note on Thursday, February 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of O-I Glass in a research report on Tuesday, April 21st. Citigroup dropped their price objective on O-I Glass from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Zacks Research lowered O-I Glass from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 3rd. Finally, Royal Bank Of Canada set a $14.00 target price on O-I Glass in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.50.

About O-I Glass

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.