Huber Capital Management LLC Has $9.46 Million Position in O-I Glass, Inc. $OI

Huber Capital Management LLC reduced its stake in shares of O-I Glass, Inc. (NYSE:OI) by 13.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 640,765 shares of the industrial products company’s stock after selling 96,762 shares during the quarter. O-I Glass comprises about 1.4% of Huber Capital Management LLC’s investment portfolio, making the stock its 23rd largest position. Huber Capital Management LLC’s holdings in O-I Glass were worth $9,458,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of OI. Alliancebernstein L.P. raised its position in shares of O-I Glass by 194.6% during the second quarter. Alliancebernstein L.P. now owns 7,939,841 shares of the industrial products company’s stock worth $117,033,000 after purchasing an additional 5,244,440 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of O-I Glass by 288.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,215,632 shares of the industrial products company’s stock worth $47,463,000 after purchasing an additional 2,388,299 shares during the period. Brandywine Global Investment Management LLC acquired a new stake in shares of O-I Glass during the fourth quarter worth about $25,064,000. Bank of America Corp DE raised its position in shares of O-I Glass by 222.6% during the second quarter. Bank of America Corp DE now owns 2,206,251 shares of the industrial products company’s stock worth $32,520,000 after purchasing an additional 1,522,384 shares during the period. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of O-I Glass during the third quarter worth about $14,287,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

Wall Street Analysts Forecast Growth

OI has been the topic of a number of research analyst reports. Wall Street Zen lowered O-I Glass from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Truist Financial reiterated a “buy” rating and set a $14.00 price objective (down from $15.00) on shares of O-I Glass in a report on Thursday, April 30th. Wells Fargo & Company downgraded O-I Glass from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $18.00 to $13.00 in a report on Friday, March 20th. Royal Bank Of Canada set a $14.00 price objective on O-I Glass in a report on Friday, April 17th. Finally, Weiss Ratings upgraded O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $15.50.

Insiders Place Their Bets

In related news, SVP Darrow A. Abrahams purchased 2,774 shares of the stock in a transaction on Monday, May 11th. The shares were purchased at an average price of $9.04 per share, with a total value of $25,076.96. Following the transaction, the senior vice president directly owned 235,928 shares of the company’s stock, valued at $2,132,789.12. This trade represents a 1.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Randolph L. Burns purchased 11,000 shares of the stock in a transaction on Friday, May 8th. The shares were bought at an average cost of $9.32 per share, for a total transaction of $102,520.00. Following the transaction, the senior vice president directly owned 133,932 shares in the company, valued at approximately $1,248,246.24. The trade was a 8.95% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 17,083 shares of company stock valued at $157,312 in the last 90 days. 1.00% of the stock is currently owned by insiders.

O-I Glass Stock Up 1.3%

NYSE:OI opened at $9.16 on Friday. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.73 and a current ratio of 1.26. The company has a market cap of $1.40 billion, a PE ratio of -7.51, a PEG ratio of 1.05 and a beta of 0.63. O-I Glass, Inc. has a 52-week low of $7.75 and a 52-week high of $16.91. The stock has a 50-day simple moving average of $9.42 and a 200 day simple moving average of $12.37.

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 (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 positive return on equity of 13.65% and a negative net margin of 2.91%.The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 earnings per share. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. On average, sell-side analysts expect that O-I Glass, Inc. will post 1.2 EPS 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.