Louisiana State Employees Retirement System Invests $710,000 in O-I Glass, Inc. $OI

Louisiana State Employees Retirement System bought a new stake in O-I Glass, Inc. (NYSE:OI) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 67,600 shares of the industrial products company’s stock, valued at approximately $710,000.

A number of other institutional investors have also recently bought and sold shares of the business. Alliancebernstein L.P. lifted its position in shares of O-I Glass by 194.6% in the second quarter. Alliancebernstein L.P. now owns 7,939,841 shares of the industrial products company’s stock valued at $117,033,000 after buying an additional 5,244,440 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of O-I Glass during the 4th quarter worth about $40,090,000. Arrowstreet Capital Limited Partnership grew its stake in O-I Glass by 288.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,215,632 shares of the industrial products company’s stock valued at $47,463,000 after buying an additional 2,388,299 shares during the last quarter. Brandywine Global Investment Management LLC bought a new position in O-I Glass in the 4th quarter valued at about $25,064,000. Finally, Bank of America Corp DE lifted its position in O-I Glass by 222.6% during the second quarter. Bank of America Corp DE now owns 2,206,251 shares of the industrial products company’s stock worth $32,520,000 after acquiring an additional 1,522,384 shares during the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Stock Up 0.1%

Shares of OI traded up $0.01 during trading hours on Tuesday, hitting $10.05. The stock had a trading volume of 132,113 shares, compared to its average volume of 2,452,228. O-I Glass, Inc. has a 1-year low of $7.75 and a 1-year high of $16.91. The firm has a market capitalization of $1.54 billion, a P/E ratio of -8.23, a price-to-earnings-growth ratio of 1.12 and a beta of 0.62. The firm has a 50 day simple moving average of $9.05 and a 200-day simple moving average of $11.84. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.26 and a quick ratio of 0.73.

O-I Glass (NYSE:OI) last announced 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). The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.47 billion. O-I Glass had a positive return on equity of 13.65% and a negative net margin of 2.91%.The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 EPS. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. Sell-side analysts predict that O-I Glass, Inc. will post 1.2 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on OI shares. Truist Financial reiterated a “buy” rating and set a $14.00 target price (down from $15.00) on shares of O-I Glass in a research note on Thursday, April 30th. Citigroup decreased their price target on shares of O-I Glass from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Wells Fargo & Company downgraded shares of O-I Glass from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $18.00 to $13.00 in a report on Friday, March 20th. Royal Bank Of Canada set a $14.00 target price on shares of O-I Glass in a report on Friday, April 17th. Finally, Weiss Ratings downgraded O-I Glass from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 30th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.14.

Insider Activity

In other news, SVP Darrow A. Abrahams acquired 2,774 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $9.04 per share, for a total transaction of $25,076.96. Following the acquisition, the senior vice president owned 235,928 shares of the company’s stock, valued at $2,132,789.12. This trade represents a 1.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Randolph L. Burns acquired 11,000 shares of O-I Glass stock in a transaction dated Friday, May 8th. The shares were bought at an average cost of $9.32 per share, for a total transaction of $102,520.00. Following the completion of the purchase, the senior vice president directly owned 133,932 shares of the company’s stock, valued at approximately $1,248,246.24. The trade was a 8.95% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 17,083 shares of company stock worth $157,312. 1.00% of the stock is currently owned by insiders.

O-I Glass Company Profile

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.