Huber Capital Management LLC Sells 96,762 Shares of O-I Glass, Inc. $OI

Huber Capital Management LLC trimmed its stake in O-I Glass, Inc. (NYSE:OI) by 13.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 640,765 shares of the industrial products company’s stock after selling 96,762 shares during the period. O-I Glass comprises about 1.4% of Huber Capital Management LLC’s investment portfolio, making the stock its 23rd largest position. Huber Capital Management LLC owned 0.42% of O-I Glass worth $9,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. bought a new stake in O-I Glass in the third quarter valued at $1,526,000. Brandywine Global Investment Management LLC bought a new stake in O-I Glass in the fourth quarter valued at $25,064,000. Boothbay Fund Management LLC grew its position in O-I Glass by 22.1% in the third quarter. Boothbay Fund Management LLC now owns 803,029 shares of the industrial products company’s stock valued at $10,415,000 after acquiring an additional 145,170 shares during the period. LSV Asset Management grew its position in O-I Glass by 12.4% in the fourth quarter. LSV Asset Management now owns 1,801,844 shares of the industrial products company’s stock valued at $26,595,000 after acquiring an additional 199,366 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its position in O-I Glass by 42.1% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,026,525 shares of the industrial products company’s stock valued at $29,912,000 after acquiring an additional 600,462 shares during the period. 97.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Truist Financial reiterated a “buy” rating and issued a $14.00 price target (down from $15.00) on shares of O-I Glass in a research report on Thursday, April 30th. Royal Bank Of Canada set a $14.00 price target on O-I Glass in a research report on Friday, April 17th. Wells Fargo & Company cut O-I Glass from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $18.00 to $13.00 in a research report on Friday, March 20th. Wall Street Zen cut O-I Glass from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Weiss Ratings upgraded O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. One equities research 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 assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.50.

Insider Activity

In related news, SVP Randolph L. Burns bought 11,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was bought at an average cost of $9.32 per share, for a total transaction of $102,520.00. Following the transaction, the senior vice president owned 133,932 shares of the company’s stock, valued at $1,248,246.24. This represents a 8.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Eduardo Restrepo bought 3,309 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were bought 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 directly owned 94,199 shares in the company, valued at approximately $845,907.02. This trade represents a 3.64% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 17,083 shares of company stock valued at $157,312 over the last 90 days. 1.00% of the stock is owned by company insiders.

O-I Glass Trading Up 1.3%

Shares of OI opened at $9.16 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 3.35. O-I Glass, Inc. has a 12-month low of $7.75 and a 12-month high of $16.91. The firm has a market capitalization of $1.40 billion, a PE ratio of -7.51, a price-to-earnings-growth ratio of 1.05 and a beta of 0.63. The stock’s fifty day simple moving average is $9.42 and its 200-day simple moving average is $12.37.

O-I Glass (NYSE:OI) last issued its quarterly 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). O-I Glass had a negative net margin of 2.91% and a positive return on equity of 13.65%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the company earned $0.40 EPS. The company’s revenue was down 1.7% compared to the same quarter last year. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. As a group, research analysts predict that O-I Glass, Inc. will post 1.2 earnings per share for the current year.

About O-I Glass

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.