Insider Buying: O-I Glass (NYSE:OI) SVP Acquires 2,774 Shares of Stock

O-I Glass, Inc. (NYSE:OI) SVP Darrow Abrahams acquired 2,774 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $9.04 per share, for a total transaction of $25,076.96. Following the purchase, the senior vice president directly owned 235,928 shares of the company’s stock, valued at $2,132,789.12. This represents a 1.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

O-I Glass Stock Down 2.8%

O-I Glass stock traded down $0.25 during trading hours on Tuesday, hitting $8.80. The stock had a trading volume of 2,176,496 shares, compared to its average volume of 2,276,339. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 3.35. The stock has a market capitalization of $1.35 billion, a P/E ratio of -7.21, a price-to-earnings-growth ratio of 1.06 and a beta of 0.65. O-I Glass, Inc. has a 12-month low of $8.00 and a 12-month high of $16.91. The stock’s 50-day moving average price is $10.63 and its 200-day moving average price is $13.04.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wells Fargo & Company cut shares of O-I Glass from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $18.00 to $13.00 in a report on Friday, March 20th. Wall Street Zen cut shares of O-I Glass from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Robert W. Baird set a $20.00 price objective on shares of O-I Glass in a report on Thursday, February 12th. Royal Bank Of Canada set a $14.00 price objective on shares of O-I Glass in a report on Friday, April 17th. Finally, UBS Group decreased their price objective on shares of O-I Glass from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $15.50.

Institutional Trading of O-I Glass

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its position in shares of 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 purchasing an additional 701 shares during the period. Barclays PLC boosted its position in shares of O-I Glass by 0.3% in the fourth quarter. Barclays PLC now owns 246,766 shares of the industrial products company’s stock worth $3,642,000 after purchasing an additional 755 shares during the period. Farther Finance Advisors LLC boosted its position in shares of O-I Glass by 87.6% in the fourth quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 830 shares during the period. ProShare Advisors LLC boosted its position in shares of O-I Glass by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 29,887 shares of the industrial products company’s stock worth $441,000 after purchasing an additional 911 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of O-I Glass by 64.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 918 shares during the period. 97.24% of the stock is owned by hedge funds and other institutional investors.

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.