Nuveen LLC Invests $10.74 Million in O-I Glass, Inc. $OI

Key Points

• Nuveen LLC acquired a new stake in O-I Glass, Inc. by purchasing 936,165 shares valued at approximately $10.74 million, representing 0.61% of the company.
• O-I Glass reported earnings per share (EPS) of $0.53 for the last quarter, beating analysts' expectations of $0.41 and setting guidance for FY 2025 at 1.300-1.55 EPS.
• Institutional investors collectively own 97.24% of O-I Glass, with multiple hedge funds increasing their stakes recently, reflecting significant investor interest in the company.

Nuveen LLC bought a new stake in O-I Glass, Inc. (NYSE:OI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 936,165 shares of the industrial products company's stock, valued at approximately $10,738,000. Nuveen LLC owned 0.61% of O-I Glass as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of O-I Glass by 79.3% during 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 last quarter. Point72 Asset Management L.P. bought a new stake in shares of O-I Glass during the fourth quarter valued at approximately $89,000. CWM LLC grew its stake in shares of O-I Glass by 623.9% during 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 last quarter. Point72 Hong Kong Ltd bought a new stake in shares of O-I Glass during the fourth quarter valued at approximately $106,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of O-I Glass during the fourth quarter valued at approximately $107,000. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at O-I Glass

In related news, CEO Gordon Hardie purchased 8,000 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was acquired at an average price 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 in the company, valued at approximately $6,757,202.70. This represents a 1.58% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Darrow A. Abrahams acquired 3,828 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was acquired at an average cost of $13.05 per share, with a total value of $49,955.40. Following 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 position. The disclosure for this purchase can be found here. 1.49% of the stock is owned by company insiders.

O-I Glass Trading Down 1.3%

OI traded down $0.17 during trading on Wednesday, reaching $13.09. 471,865 shares of the company's stock were exchanged, compared to its average volume of 1,537,859. The stock has a market capitalization of $2.02 billion, a PE ratio of -7.94, a price-to-earnings-growth ratio of 0.26 and a beta of 0.92. O-I Glass, Inc. has a one year low of $9.23 and a one year high of $16.04. The company has a current ratio of 1.24, a quick ratio of 0.77 and a debt-to-equity ratio of 3.58. The firm has a fifty day moving average price of $14.18 and a two-hundred day moving average price of $12.83.

O-I Glass (NYSE:OI - Get Free Report) last released its earnings results on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.12. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the company earned $0.44 EPS. O-I Glass's quarterly revenue was down 1.3% compared to the same quarter last year. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. As a group, equities research analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on OI shares. UBS Group restated a "buy" rating and issued a $19.00 price objective (up from $17.00) on shares of O-I Glass in a report on Wednesday, July 9th. Bank of America reissued a "neutral" rating and set a $17.00 price objective (up previously from $15.00) on shares of O-I Glass in a research report on Wednesday, July 9th. BNP Paribas Exane assumed coverage on shares of O-I Glass in a research report on Wednesday, June 25th. They set an "outperform" rating and a $18.00 price objective for the company. BNP Paribas set a $18.00 target price on shares of O-I Glass in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company reaffirmed a "mixed" rating on shares of O-I Glass in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.00.

O-I Glass Profile

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.