Brandywine Global Investment Management LLC Buys Shares of 1,698,081 O-I Glass, Inc. $OI

Brandywine Global Investment Management LLC bought a new stake in shares of O-I Glass, Inc. (NYSE:OI) during the 4th quarter, Holdings Channel reports. The firm bought 1,698,081 shares of the industrial products company’s stock, valued at approximately $25,064,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Alliancebernstein L.P. increased its position in shares of O-I Glass by 194.6% during the 2nd quarter. Alliancebernstein L.P. now owns 7,939,841 shares of the industrial products company’s stock valued at $117,033,000 after purchasing an additional 5,244,440 shares during the period. Bank of America Corp DE grew its holdings in shares of O-I Glass by 222.6% in the 2nd quarter. Bank of America Corp DE now owns 2,206,251 shares of the industrial products company’s stock worth $32,520,000 after acquiring an additional 1,522,384 shares during the last quarter. Bridgeway Capital Management LLC acquired a new position in shares of O-I Glass in the 3rd quarter worth $14,287,000. Goldman Sachs Group Inc. grew its holdings in shares of O-I Glass by 99.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,190,746 shares of the industrial products company’s stock worth $32,335,000 after acquiring an additional 1,094,225 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of O-I Glass by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,349,218 shares of the industrial products company’s stock worth $250,959,000 after acquiring an additional 691,989 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OI. Truist Financial restated a “buy” rating and issued a $14.00 target price (down from $15.00) on shares of O-I Glass in a report on Thursday, April 30th. Citigroup lowered their price target on O-I Glass from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. UBS Group lowered their price target on O-I Glass from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Zacks Research downgraded O-I Glass from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 3rd. Finally, Robert W. Baird set a $20.00 price target on O-I Glass in a report on Thursday, February 12th. One research 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.50.

Insider Activity at O-I Glass

In other news, SVP Darrow A. Abrahams acquired 2,774 shares of O-I Glass stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $9.04 per share, with a total value of $25,076.96. Following the completion of the transaction, the senior vice president owned 235,928 shares in the company, valued at approximately $2,132,789.12. This trade represents a 1.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Eduardo Restrepo acquired 3,309 shares of O-I Glass stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average cost of $8.98 per share, with a total value of $29,714.82. Following the transaction, the senior vice president owned 94,199 shares of the company’s stock, valued at approximately $845,907.02. The trade was a 3.64% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 17,083 shares of company stock valued at $157,312. Insiders own 1.00% of the company’s stock.

O-I Glass Stock Performance

Shares of OI stock opened at $7.97 on Tuesday. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -6.53, a P/E/G ratio of 0.90 and a beta of 0.64. O-I Glass, Inc. has a 1-year low of $7.75 and a 1-year high of $16.91. 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 stock’s fifty day simple moving average is $9.55 and its 200-day simple moving average is $12.49.

O-I Glass (NYSE:OI) last released 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 analyst estimates of $1.47 billion. O-I Glass had a negative net margin of 2.91% and a positive return on equity of 13.65%. O-I Glass’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 EPS. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. On average, sell-side analysts predict that O-I Glass, Inc. will post 1.2 earnings per share 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.