Maryland State Retirement & Pension System Has $516,000 Stock Position in O-I Glass, Inc. (NYSE:OI)

Maryland State Retirement & Pension System lowered its position in O-I Glass, Inc. (NYSE:OI) by 14.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,959 shares of the industrial products company’s stock after selling 7,627 shares during the period. Maryland State Retirement & Pension System’s holdings in O-I Glass were worth $516,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of O-I Glass by 2.3% in the first quarter. Principal Financial Group Inc. now owns 767,260 shares of the industrial products company’s stock valued at $8,800,000 after acquiring an additional 17,254 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of O-I Glass by 117.7% in the first quarter. SG Americas Securities LLC now owns 45,766 shares of the industrial products company’s stock valued at $525,000 after acquiring an additional 24,743 shares during the last quarter. Northern Trust Corp raised its stake in shares of O-I Glass by 8.5% in the fourth quarter. Northern Trust Corp now owns 1,738,277 shares of the industrial products company’s stock valued at $18,843,000 after acquiring an additional 135,989 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of O-I Glass by 79.3% in the first 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 during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of O-I Glass in the fourth quarter valued at approximately $1,199,000. Institutional investors own 97.24% of the company’s stock.

Insider Buying and Selling at O-I Glass

In other O-I Glass news, SVP Darrow A. Abrahams bought 3,828 shares of the company’s stock in a transaction on Tuesday, August 5th. The stock was bought at an average price of $13.05 per share, for a total transaction of $49,955.40. Following the transaction, the senior vice president owned 184,447 shares of the company’s stock, valued at approximately $2,407,033.35. The trade was a 2.12% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gordon Hardie purchased 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was purchased at an average cost of $13.10 per share, with a total value of $104,800.00. Following the acquisition, 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 disclosure for this purchase can be found here. Insiders own 0.93% of the company’s stock.

Wall Street Analysts Forecast Growth

OI has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of O-I Glass from a “hold” rating to a “buy” rating in a research note on Sunday, June 29th. BNP Paribas Exane started coverage on shares of O-I Glass in a research note on Wednesday, June 25th. They issued an “outperform” rating and a $18.00 target price for the company. Wells Fargo & Company restated a “mixed” rating on shares of O-I Glass in a research report on Monday, August 4th. Bank of America restated a “neutral” rating and issued a $17.00 price objective (up previously from $15.00) on shares of O-I Glass in a research report on Wednesday, July 9th. Finally, BNP Paribas set a $18.00 price objective on shares of O-I Glass in a research report on Wednesday, June 25th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, O-I Glass presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

O-I Glass Stock Performance

Shares of O-I Glass stock opened at $13.65 on Friday. The firm has a fifty day moving average of $14.26 and a two-hundred day moving average of $12.74. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -8.27, a PEG ratio of 0.27 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 debt-to-equity ratio of 3.58, a quick ratio of 0.77 and a current ratio of 1.24.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, July 29th. The industrial products company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.41 by $0.12. The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. As a group, equities research analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current year.

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.