Voya Investment Management LLC Increases Holdings in O-I Glass, Inc. $OI

Key Points

• Voya Investment Management LLC increased its holdings in O-I Glass, Inc. by 131.5% in the first quarter, owning 132,899 shares worth approximately $1.524 million after acquiring an additional 75,489 shares.
• CEO Gordon Hardie purchased 8,000 shares of O-I Glass stock at an average price of $13.10 per share, increasing his ownership by 1.58% to a total of 515,817 shares valued at around $6.76 million.
• O-I Glass reported earnings of $0.53 EPS for the last quarter, exceeding analysts' estimates of $0.41, with a revenue of $1.70 billion, unchanged year-over-year.

Voya Investment Management LLC lifted its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 131.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 132,899 shares of the industrial products company's stock after purchasing an additional 75,489 shares during the period. Voya Investment Management LLC owned 0.09% of O-I Glass worth $1,524,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Strs Ohio acquired a new position in shares of O-I Glass during the first quarter worth $747,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of O-I Glass by 43.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 526,279 shares of the industrial products company's stock worth $6,036,000 after acquiring an additional 160,649 shares in the last quarter. United Services Automobile Association purchased a new position in O-I Glass in the 1st quarter valued at about $119,000. Dynamic Technology Lab Private Ltd purchased a new position in O-I Glass in the 1st quarter valued at about $658,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in O-I Glass by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,151 shares of the industrial products company's stock worth $1,057,000 after purchasing an additional 4,055 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company's stock.

Insider Buying and Selling at O-I Glass

In other O-I Glass news, CEO Gordon Hardie purchased 8,000 shares of O-I Glass stock in a transaction dated Tuesday, August 5th. The shares were bought at an average cost of $13.10 per share, for a total transaction of $104,800.00. Following the transaction, the chief executive officer owned 515,817 shares in the company, valued at $6,757,202.70. This represents a 1.58% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Darrow A. Abrahams acquired 3,828 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was purchased at an average price of $13.05 per share, for a total transaction of $49,955.40. Following the completion of the transaction, 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 Ratings Changes

OI has been the subject of a number of recent analyst reports. UBS Group restated a "buy" rating and set a $19.00 price target (up previously from $17.00) on shares of O-I Glass in a report on Wednesday, July 9th. Citigroup boosted their target price 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. BNP Paribas set a $18.00 price target on shares of O-I Glass in a research report on Wednesday, June 25th. Bank of America restated a "neutral" rating and issued a $17.00 price objective (up from $15.00) on shares of O-I Glass in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company reiterated a "mixed" rating on shares of O-I Glass in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

O-I Glass Stock Performance

Shares of OI stock opened at $13.09 on Tuesday. The company's fifty day simple moving average is $13.34 and its 200-day simple moving average is $13.02. The company has a market cap of $2.02 billion, a PE ratio of -7.93, a P/E/G ratio of 0.25 and a beta of 0.93. O-I Glass, Inc. has a 52 week low of $9.23 and a 52 week 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.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.70 billion. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. The business's revenue was down 1.3% on a year-over-year basis. During the same period last year, the business earned $0.44 EPS. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. As a group, equities research analysts anticipate that O-I Glass, Inc. will post 1.33 EPS for the current year.

O-I Glass Company 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.

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