O-I Glass, Inc. $OI Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC lowered its holdings in O-I Glass, Inc. (NYSE:OI) by 5.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,754,970 shares of the industrial products company’s stock after selling 161,263 shares during the quarter. Segall Bryant & Hamill LLC owned about 1.80% of O-I Glass worth $28,955,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in O-I Glass by 8.6% in 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% during 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. Cooper Creek Partners Management LLC lifted its position in shares of O-I Glass by 73.8% during the 1st quarter. Cooper Creek Partners Management LLC now owns 7,006,293 shares of the industrial products company’s stock worth $73,636,000 after buying an additional 2,975,181 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of O-I Glass by 32.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,246,337 shares of the industrial products company’s stock valued at $44,629,000 after buying an additional 1,030,705 shares in the last quarter. Finally, 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 in the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

Insider Buying and Selling

In other O-I Glass news, SVP Darrow A. Abrahams acquired 2,774 shares of the stock in a transaction on Monday, May 11th. The shares were bought at an average price of $9.04 per share, with a total value of $25,076.96. Following the acquisition, the senior vice president 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 Securities & Exchange Commission, which is accessible through this link. Also, SVP Randolph L. Burns bought 11,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were acquired at an average cost of $9.32 per share, with a total value of $102,520.00. Following the completion of the purchase, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 17,083 shares of company stock valued at $157,312 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

O-I Glass Price Performance

Shares of NYSE:OI opened at $7.17 on Friday. O-I Glass, Inc. has a one year low of $7.01 and a one year high of $16.91. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -0.95, a PEG ratio of 0.89 and a beta of 0.62. The company has a 50-day simple moving average of $8.98 and a 200-day simple moving average of $11.05. The company has a debt-to-equity ratio of 8.89, a quick ratio of 0.73 and a current ratio of 1.26.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.15). O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%.The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the previous year, the company posted $0.53 EPS. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, analysts predict that O-I Glass, Inc. will post 1.14 EPS for the current year.

Key Stories Impacting O-I Glass

Here are the key news stories impacting O-I Glass this week:

• Positive Sentiment: Analysts remain constructive on O-I Glass’s longer-term valuation. UBS maintained a “buy” rating with an $11 price target, while Truist also kept a “buy” rating with a $10 target—representing substantial potential upside from recent levels. O-I Glass Price Target Lowered to $11.00 at UBS Group
• Positive Sentiment: Zacks cited solid end-market demand and innovation-focused product development as potential growth drivers for the glass-products industry, which could benefit O-I Glass over time. 2 Glass Products Stocks to Watch in a Promising Industry
• Neutral Sentiment: Citigroup lowered its price target from $10 to $8 and moved to a “neutral” rating. Although the revised target still implies upside, the reduction reflects more cautious expectations following the earnings update. Citigroup O-I Glass Price Target Update
• Negative Sentiment: Second-quarter adjusted earnings were $0.09 per share, below the $0.24 consensus estimate and down from $0.53 a year earlier. Revenue of $1.67 billion also slightly missed estimates and fell 2.2% year over year, with weakness in Europe contributing to the shortfall. O-I Glass Shares Sink After Europe Weakness Drives Earnings Miss
• Negative Sentiment: An $873 million goodwill impairment produced a large second-quarter net loss and intensified concerns about the company’s European operations and balance sheet, which already carries high leverage. O-I Glass Is Down After Goodwill Impairment Triggers Large Q2 Net Loss
• Negative Sentiment: O-I Glass cut full-year guidance for the second consecutive quarter, raising worries about execution and near-term cash flow. The guidance reduction has also prompted an investor investigation notice, adding legal and reputational risk. O-I Glass Investigation Notice

Wall Street Analysts Forecast Growth

OI has been the topic of several research analyst reports. UBS Group cut their price target on shares of O-I Glass from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday. Wells Fargo & Company decreased their price objective on shares of O-I Glass from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Citigroup dropped their price objective on O-I Glass from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday. BNP Paribas Exane cut O-I Glass from an “outperform” rating to a “neutral” rating and set a $8.50 target price on the stock. in a research report on Thursday. Finally, Weiss Ratings downgraded O-I Glass from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $10.56.

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.