O-I Glass, Inc. $OI Holdings Lifted by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC significantly increased its stake in O-I Glass, acquiring an additional 980,758 shares, raising its total ownership to over 1 million shares worth approximately $12.3 million.
• A majority of O-I Glass's stock is held by institutional investors, with 97.24% ownership, indicating strong institutional interest in the company.
• O-I Glass recently reported earnings per share of $0.53, exceeding analyst expectations, while setting a fiscal year 2025 guidance range of 1.300-1.55 EPS.

MetLife Investment Management LLC raised its stake in O-I Glass, Inc. (NYSE:OI - Free Report) by 1,043.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,074,764 shares of the industrial products company's stock after purchasing an additional 980,758 shares during the quarter. MetLife Investment Management LLC owned about 0.69% of O-I Glass worth $12,328,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its holdings in shares of O-I Glass by 1.5% in the 1st quarter. Russell Investments Group Ltd. now owns 70,572 shares of the industrial products company's stock valued at $809,000 after purchasing an additional 1,074 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of O-I Glass by 79.3% during the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 1,142 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of O-I Glass by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 75,226 shares of the industrial products company's stock valued at $863,000 after acquiring an additional 1,204 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in shares of O-I Glass by 9.6% during the 4th quarter. Baird Financial Group Inc. now owns 16,152 shares of the industrial products company's stock valued at $175,000 after acquiring an additional 1,410 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its holdings in shares of O-I Glass by 9.9% during the 4th quarter. Guggenheim Capital LLC now owns 22,777 shares of the industrial products company's stock valued at $247,000 after acquiring an additional 2,044 shares in the last quarter. Institutional investors and hedge funds own 97.24% of the company's stock.

Insider Transactions at O-I Glass

In other O-I Glass news, SVP Darrow A. Abrahams acquired 3,828 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was acquired at an average price of $13.05 per share, with a total value of $49,955.40. Following the transaction, the senior vice president directly owned 184,447 shares in the company, valued at approximately $2,407,033.35. This represents a 2.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gordon Hardie acquired 8,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were acquired at an average cost of $13.10 per share, with a total value of $104,800.00. Following the transaction, the chief executive officer owned 515,817 shares in the company, valued at approximately $6,757,202.70. The trade was a 1.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.93% of the stock is owned by corporate insiders.

O-I Glass Stock Down 0.3%

Shares of OI traded down $0.05 during midday trading on Friday, hitting $12.99. The company had a trading volume of 940,423 shares, compared to its average volume of 1,405,829. The company's 50 day moving average price is $14.14 and its 200 day moving average price is $12.85. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of -7.87, a PEG ratio of 0.25 and a beta of 0.92. O-I Glass, Inc. has a 52 week low of $9.23 and a 52 week high of $16.04. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 3.58.

O-I Glass (NYSE:OI - Get Free Report) last announced 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 negative net margin of 3.95% and a positive return on equity of 13.70%. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. The company's revenue for the quarter 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. On average, equities research analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OI. BNP Paribas set a $18.00 target price on shares of O-I Glass in a report on Wednesday, June 25th. BNP Paribas Exane began coverage on shares of O-I Glass in a report on Wednesday, June 25th. They set an "outperform" rating and a $18.00 target price on the stock. Wall Street Zen upgraded shares of O-I Glass from a "hold" rating to a "buy" rating in a report on Sunday, June 29th. Truist Financial set a $21.00 price target on shares of O-I Glass and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Citigroup lifted their price target on shares of O-I Glass from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. One equities 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 stock. Based on data from MarketBeat, O-I Glass presently has an average 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.