O-I Glass, Inc. $OI Stake Cut by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. lessened its holdings in O-I Glass, Inc. (NYSE:OI) by 38.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,058,776 shares of the industrial products company’s stock after selling 670,374 shares during the quarter. Levin Capital Strategies L.P.’s holdings in O-I Glass were worth $11,128,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in OI. Dimensional Fund Advisors LP increased its stake in O-I Glass by 8.6% during the first quarter. Dimensional Fund Advisors LP now owns 9,238,635 shares of the industrial products company’s stock valued at $97,094,000 after purchasing an additional 729,191 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of O-I Glass by 0.7% in the 3rd quarter. Alliancebernstein L.P. now owns 7,996,786 shares of the industrial products company’s stock worth $103,718,000 after buying an additional 56,945 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of O-I Glass by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 3,783,387 shares of the industrial products company’s stock valued at $55,852,000 after buying an additional 22,430 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of O-I Glass by 288.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,215,632 shares of the industrial products company’s stock valued at $47,463,000 after buying an additional 2,388,299 shares during the period. Finally, Wellington Management Group LLP acquired a new position in shares of O-I Glass in the 4th quarter valued at about $40,090,000. Institutional investors own 97.24% of the company’s stock.

Insider Transactions at O-I Glass

In other O-I Glass news, SVP Darrow A. Abrahams bought 2,774 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average cost of $9.04 per share, for a total transaction of $25,076.96. Following the transaction, the senior vice president directly owned 235,928 shares in the company, valued at $2,132,789.12. The trade was a 1.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eduardo Restrepo bought 3,309 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of $8.98 per share, for a total transaction of $29,714.82. Following the completion of the transaction, the senior vice president owned 94,199 shares in the company, valued at $845,907.02. This trade represents a 3.64% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 17,083 shares of company stock worth $157,312. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Zacks Research raised shares of O-I Glass from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings raised shares of O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 15th. UBS Group decreased their target price on O-I Glass from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Citigroup lowered their target price 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. Finally, Wells Fargo & Company dropped their price target on O-I Glass from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.57.

O-I Glass Trading Up 1.5%

Shares of NYSE:OI opened at $9.01 on Thursday. 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 company’s 50-day moving average price is $9.03 and its 200 day moving average price is $11.36. The company has a market cap of $1.38 billion, a PE ratio of -7.39, a P/E/G ratio of 1.07 and a beta of 0.62. O-I Glass, Inc. has a fifty-two week low of $7.75 and a fifty-two week high of $16.91.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, April 28th. The industrial products company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.04). O-I Glass had a positive return on equity of 13.65% and a negative net margin of 2.91%.The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the company posted $0.40 EPS. O-I Glass’s revenue for the quarter was down 1.7% on a year-over-year basis. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. Sell-side analysts anticipate that O-I Glass, Inc. will post 1.14 earnings per share for the current year.

O-I Glass Company 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.