Darrow Abrahams Purchases 2,774 Shares of O-I Glass (NYSE:OI) Stock

O-I Glass, Inc. (NYSE:OI) SVP Darrow Abrahams acquired 2,774 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $9.04 per share, for a total transaction of $25,076.96. Following the completion of the transaction, the senior vice president owned 235,928 shares of the company’s stock, valued at $2,132,789.12. The trade was a 1.19% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

O-I Glass Stock Up 2.4%

OI stock opened at $8.99 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 3.35. The company’s 50 day moving average is $10.45 and its 200 day moving average is $12.99. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -7.37, a price-to-earnings-growth ratio of 1.01 and a beta of 0.65. O-I Glass, Inc. has a 1-year low of $8.00 and a 1-year high of $16.91.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.04). The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the company posted $0.40 earnings per share. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. Sell-side analysts predict that O-I Glass, Inc. will post 1.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings 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 last quarter. Headlands Technologies LLC bought a new position in shares of O-I Glass in the second quarter worth approximately $29,000. Quarry LP bought a new position in shares of O-I Glass in the fourth quarter worth approximately $32,000. Caitong International Asset Management Co. Ltd increased its holdings in O-I Glass by 36,533.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 2,192 shares during the period. Finally, State of Wyoming purchased a new position in O-I Glass during the 2nd quarter valued at about $35,000. Institutional investors own 97.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OI. Truist Financial reaffirmed a “buy” rating and issued a $14.00 target price (down from $15.00) on shares of O-I Glass in a research note on Thursday, April 30th. Robert W. Baird set a $20.00 target price on O-I Glass in a research note on Thursday, February 12th. Royal Bank Of Canada set a $14.00 target price on O-I Glass in a research note on Friday, April 17th. Citigroup cut their target price on O-I Glass from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Finally, Wells Fargo & Company lowered O-I Glass from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $18.00 to $13.00 in a research note on Friday, March 20th. One investment 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 assigned a Sell rating to the company. According to MarketBeat, O-I Glass has a consensus rating of “Hold” and a consensus target price 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.