Maverick Capital Ltd. Increases Holdings in O-I Glass, Inc. $OI

Maverick Capital Ltd. lifted its position in O-I Glass, Inc. (NYSE:OI) by 128.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,741 shares of the industrial products company’s stock after purchasing an additional 38,695 shares during the quarter. Maverick Capital Ltd.’s holdings in O-I Glass were worth $788,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OI. GAMMA Investing LLC grew its holdings in O-I Glass by 79.3% in the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,142 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in O-I Glass during the first quarter worth $30,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in O-I Glass in the first quarter valued at $85,000. Point72 Asset Management L.P. purchased a new stake in O-I Glass in the fourth quarter valued at $89,000. Finally, CWM LLC raised its position in O-I Glass by 623.9% in the first quarter. CWM LLC now owns 8,390 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 7,231 shares during the period. 97.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at O-I Glass

In other news, CEO Gordon Hardie acquired 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was purchased at an average cost of $13.10 per share, with a total value of $104,800.00. Following the purchase, the chief executive officer directly owned 515,817 shares of the company’s stock, valued at approximately $6,757,202.70. This trade represents a 1.58% 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 3,828 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was purchased at an average cost of $13.05 per share, with a total value of $49,955.40. Following the completion of the purchase, the senior vice president directly owned 184,447 shares in the company, valued at $2,407,033.35. This represents a 2.12% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on OI shares. Truist Financial set a $21.00 target price on O-I Glass and gave the company a “buy” rating in a report on Friday, July 11th. Wells Fargo & Company reissued a “mixed” rating on shares of O-I Glass in a research report on Monday, August 4th. Wall Street Zen raised O-I Glass from a “hold” rating to a “buy” rating in a research report on Sunday, June 29th. BNP Paribas Exane initiated coverage on O-I Glass in a research report on Wednesday, June 25th. They issued an “outperform” rating and a $18.00 target price for the company. Finally, UBS Group reissued a “buy” rating and issued a $19.00 target price (up from $17.00) on shares of O-I Glass in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

O-I Glass Stock Performance

NYSE OI opened at $12.99 on Tuesday. O-I Glass, Inc. has a 1-year low of $9.23 and a 1-year high of $16.04. The company has a market capitalization of $2.00 billion, a P/E ratio of -7.87, a PEG ratio of 0.25 and a beta of 0.93. The business has a 50 day moving average price of $14.11 and a 200 day moving average price of $12.87. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.24 and a quick ratio of 0.77.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.12. O-I Glass had a positive return on equity of 13.70% and a negative net margin of 3.95%.The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the business posted $0.44 EPS. O-I Glass’s quarterly revenue was down 1.3% on a year-over-year basis. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. Sell-side analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

About O-I Glass

O-I Glass, Inc, through its subsidiaries, engages in the manufacture and sale of glass containers to food and beverage manufacturers primarily in the Americas, Europe, and internationally. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.