Assenagon Asset Management S.A. Reduces Holdings in O-I Glass, Inc. $OI

Assenagon Asset Management S.A. trimmed its stake in shares of O-I Glass, Inc. (NYSE:OI) by 97.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,331 shares of the industrial products company’s stock after selling 635,080 shares during the quarter. Assenagon Asset Management S.A.’s holdings in O-I Glass were worth $203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in O-I Glass by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,509,444 shares of the industrial products company’s stock valued at $125,600,000 after purchasing an additional 277,205 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of O-I Glass by 0.7% in the third quarter. Alliancebernstein L.P. now owns 7,996,786 shares of the industrial products company’s stock worth $103,718,000 after purchasing an additional 56,945 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of O-I Glass by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 3,783,387 shares of the industrial products company’s stock worth $55,852,000 after purchasing an additional 22,430 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of O-I Glass by 288.7% in 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 buying an additional 2,388,299 shares during the period. Finally, Wellington Management Group LLP purchased a new position in shares of O-I Glass in the fourth quarter worth $40,090,000. 97.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Eduardo Restrepo acquired 3,309 shares of the stock in a transaction on Thursday, May 14th. The stock was acquired at an average price of $8.98 per share, with a total value of $29,714.82. Following the completion of the transaction, the senior vice president owned 94,199 shares of the company’s stock, valued at $845,907.02. This represents a 3.64% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Randolph L. Burns bought 11,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were acquired at an average price of $9.32 per share, for a total transaction 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 17,083 shares of company stock valued at $157,312 over the last ninety days. Company insiders own 1.00% of the company’s stock.

O-I Glass Stock Performance

Shares of OI opened at $9.76 on Friday. The company has a 50-day simple moving average of $9.06 and a two-hundred day simple moving average of $11.90. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.26 and a quick ratio of 0.73. The firm has a market capitalization of $1.50 billion, a PE ratio of -8.00, a price-to-earnings-growth ratio of 1.12 and a beta of 0.62. O-I Glass, Inc. has a one year low of $7.75 and a one year 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 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter last year, the company posted $0.40 EPS. The firm’s revenue 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. On average, analysts anticipate that O-I Glass, Inc. will post 1.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on OI shares. Truist Financial reissued a “buy” rating and set a $14.00 price target (down from $15.00) on shares of O-I Glass in a research report on Thursday, April 30th. Weiss Ratings cut shares of O-I Glass from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. Citigroup lowered their price objective on shares of 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. UBS Group dropped their target price on shares of O-I Glass from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, April 10th. Finally, Royal Bank Of Canada set a $14.00 target price on O-I Glass in a research note on Friday, April 17th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, O-I Glass presently has a consensus rating of “Hold” and an average target price of $15.14.

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.