LSV Asset Management Has $26.60 Million Stock Holdings in O-I Glass, Inc. $OI

LSV Asset Management raised its stake in O-I Glass, Inc. (NYSE:OI) by 12.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,801,844 shares of the industrial products company’s stock after buying an additional 199,366 shares during the quarter. LSV Asset Management’s holdings in O-I Glass were worth $26,595,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OI. Alliancebernstein L.P. raised its holdings in O-I Glass by 194.6% in the 2nd quarter. Alliancebernstein L.P. now owns 7,939,841 shares of the industrial products company’s stock valued at $117,033,000 after acquiring an additional 5,244,440 shares in the last quarter. Bank of America Corp DE increased its stake in shares of O-I Glass by 222.6% in the 2nd quarter. Bank of America Corp DE now owns 2,206,251 shares of the industrial products company’s stock valued at $32,520,000 after purchasing an additional 1,522,384 shares during the last quarter. Bridgeway Capital Management LLC bought a new position in shares of O-I Glass in the 3rd quarter valued at $14,287,000. Vanguard Group Inc. increased its stake in shares of O-I Glass by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,349,218 shares of the industrial products company’s stock valued at $250,959,000 after purchasing an additional 691,989 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of O-I Glass by 42.1% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,026,525 shares of the industrial products company’s stock valued at $29,912,000 after purchasing an additional 600,462 shares during the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Darrow A. Abrahams bought 2,774 shares of the stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $9.04 per share, with a total value of $25,076.96. Following the acquisition, the senior vice president directly owned 235,928 shares in the company, valued at approximately $2,132,789.12. This trade represents a 1.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Randolph L. Burns bought 11,000 shares of the stock in a transaction on Friday, May 8th. The stock was purchased at an average cost of $9.32 per share, with a total value of $102,520.00. Following the acquisition, the senior vice president owned 133,932 shares in the company, valued at approximately $1,248,246.24. This represents a 8.95% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 17,083 shares of company stock valued at $157,312 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lowered O-I Glass from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $18.00 to $13.00 in a research note on Friday, March 20th. Wall Street Zen lowered O-I Glass from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. UBS Group decreased their price target on O-I Glass from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Citigroup decreased their price target on O-I Glass from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Finally, Truist Financial reiterated a “buy” rating and issued a $14.00 price target (down from $15.00) on shares of O-I Glass in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, O-I Glass presently has an average rating of “Hold” and an average price target of $15.50.

O-I Glass Price Performance

Shares of OI opened at $8.84 on Monday. O-I Glass, Inc. has a 12-month low of $8.00 and a 12-month high of $16.91. The business has a 50-day simple moving average of $10.00 and a two-hundred day simple moving average of $12.83. 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 cap of $1.35 billion, a PE ratio of -7.24, a PEG ratio of 1.01 and a beta of 0.65.

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 analysts’ consensus estimates 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 analyst estimates of $1.47 billion. During the same period in the previous year, the company earned $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. Analysts anticipate that O-I Glass, Inc. will post 1.2 earnings per share for the current fiscal year.

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.