Bridgeway Capital Management LLC Purchases 128,988 Shares of O-I Glass, Inc. $OI

Bridgeway Capital Management LLC boosted its position in O-I Glass, Inc. (NYSE:OI) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,230,523 shares of the industrial products company’s stock after acquiring an additional 128,988 shares during the quarter. Bridgeway Capital Management LLC owned 0.81% of O-I Glass worth $18,163,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OI. PNC Financial Services Group Inc. lifted its holdings in shares of O-I Glass by 1.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 37,828 shares of the industrial products company’s stock worth $558,000 after purchasing an additional 701 shares during the period. Barclays PLC boosted its position in O-I Glass by 0.3% during the fourth quarter. Barclays PLC now owns 246,766 shares of the industrial products company’s stock valued at $3,642,000 after acquiring an additional 755 shares during the last quarter. Farther Finance Advisors LLC boosted its position in O-I Glass by 87.6% during the fourth quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 830 shares during the last quarter. ProShare Advisors LLC boosted its position in O-I Glass by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 29,887 shares of the industrial products company’s stock valued at $441,000 after acquiring an additional 911 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of O-I Glass by 64.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 918 shares during the period. Institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Performance

NYSE OI opened at $9.06 on Thursday. O-I Glass, Inc. has a 1 year low of $7.75 and a 1 year high of $16.91. 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 stock has a market capitalization of $1.39 billion, a PE ratio of -7.42, a P/E/G ratio of 1.03 and a beta of 0.63. The company’s 50 day simple moving average is $9.35 and its two-hundred day simple moving average is $12.28.

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

Insider Activity

In related news, SVP Randolph L. Burns acquired 11,000 shares of the stock in a transaction dated Friday, May 8th. The shares were purchased at an average price of $9.32 per share, for a total transaction of $102,520.00. Following the transaction, the senior vice president owned 133,932 shares in the company, valued at $1,248,246.24. This represents a 8.95% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Darrow A. Abrahams acquired 2,774 shares of the stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $9.04 per share, for a total transaction of $25,076.96. Following the transaction, the senior vice president owned 235,928 shares in the company, valued at approximately $2,132,789.12. This represents a 1.19% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 17,083 shares of company stock worth $157,312. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

OI has been the topic of several research reports. Weiss Ratings upgraded shares of O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 11th. UBS Group reduced their price objective on shares of O-I Glass from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Royal Bank Of Canada set a $14.00 price objective on shares of O-I Glass in a research report on Friday, April 17th. Citigroup reduced their target price on shares of O-I Glass from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Finally, Truist Financial reissued a “buy” rating and set a $14.00 target price (down from $15.00) on shares of O-I Glass in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.50.

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.