O-I Glass, Inc. $OI Stock Position Lifted by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in O-I Glass, Inc. by 11.0%, now holding approximately 326,153 shares valued at $3.74 million.
• A multitude of hedge funds have either bought new positions in O-I Glass or increased their existing holdings, with institutional investors now owning 97.24% of the stock.
• Wall Street analysts show a positive outlook for O-I Glass, with multiple upgrades and a consensus rating of "Moderate Buy" along with an average price target of $17.00.

American Century Companies Inc. raised its stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 11.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 326,153 shares of the industrial products company's stock after purchasing an additional 32,339 shares during the period. American Century Companies Inc. owned 0.21% of O-I Glass worth $3,741,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MetLife Investment Management LLC increased its stake in O-I Glass by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 94,006 shares of the industrial products company's stock worth $1,019,000 after acquiring an additional 5,271 shares during the last quarter. Hsbc Holdings PLC increased its stake in O-I Glass by 323.0% during the fourth quarter. Hsbc Holdings PLC now owns 131,761 shares of the industrial products company's stock worth $1,422,000 after acquiring an additional 100,612 shares during the last quarter. Northern Trust Corp increased its stake in O-I Glass by 8.5% during the fourth quarter. Northern Trust Corp now owns 1,738,277 shares of the industrial products company's stock worth $18,843,000 after acquiring an additional 135,989 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in O-I Glass during the fourth quarter worth about $129,000. Finally, BNP Paribas Financial Markets acquired a new stake in O-I Glass during the fourth quarter worth about $1,199,000. Institutional investors and hedge funds own 97.24% of the company's stock.

O-I Glass Stock Down 0.3%

NYSE OI traded down $0.04 during mid-day trading on Thursday, reaching $12.44. 549,868 shares of the company's stock traded hands, compared to its average volume of 1,547,335. O-I Glass, Inc. has a 1-year low of $9.23 and a 1-year high of $16.04. The company has a fifty day simple moving average of $14.02 and a 200-day simple moving average of $12.87. 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 company has a market cap of $1.92 billion, a price-to-earnings ratio of -7.54, a P/E/G ratio of 0.25 and a beta of 0.93.

O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.70 billion. During the same quarter last year, the firm earned $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. As a group, equities research analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current year.

Insider Buying and Selling

In other O-I Glass news, CEO Gordon Hardie acquired 8,000 shares of the stock in a transaction on Tuesday, August 5th. The stock was purchased at an average price of $13.10 per share, for a total transaction of $104,800.00. Following the purchase, the chief executive officer directly owned 515,817 shares in the company, valued at $6,757,202.70. This trade represents a 1.58% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Darrow A. Abrahams bought 3,828 shares of O-I Glass stock in a transaction on Tuesday, August 5th. The shares were purchased at an average cost of $13.05 per share, for a total transaction of $49,955.40. Following the acquisition, the senior vice president owned 184,447 shares in the company, valued at $2,407,033.35. The trade was a 2.12% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.49% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on OI. Wall Street Zen upgraded O-I Glass from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Citigroup upped their price target on O-I Glass from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Truist Financial set a $21.00 price target on O-I Glass and gave the stock a "buy" rating in a research note on Friday, July 11th. Wells Fargo & Company reiterated a "mixed" rating on shares of O-I Glass in a research note on Monday, August 4th. Finally, UBS Group reiterated a "buy" rating and issued a $19.00 target price (up previously from $17.00) on shares of O-I Glass in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, O-I Glass presently has a consensus rating of "Moderate Buy" and an average target price of $17.00.

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.