Corebridge Financial Inc. Has $928,000 Position in O-I Glass, Inc. $OI

Corebridge Financial Inc. reduced its position in shares of O-I Glass, Inc. (NYSE:OI) by 1.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,865 shares of the industrial products company’s stock after selling 1,604 shares during the period. Corebridge Financial Inc. owned about 0.05% of O-I Glass worth $928,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of O-I Glass by 79.3% during the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,142 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of O-I Glass during the first quarter worth about $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of O-I Glass during the first quarter worth about $85,000. Point72 Asset Management L.P. acquired a new position in shares of O-I Glass during the fourth quarter worth about $89,000. Finally, CWM LLC boosted its position in shares of O-I Glass by 623.9% during the first quarter. CWM LLC now owns 8,390 shares of the industrial products company’s stock worth $96,000 after buying an additional 7,231 shares during the period. 97.24% of the stock is owned by institutional investors and hedge funds.

O-I Glass Stock Performance

Shares of NYSE OI opened at $12.76 on Friday. 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, Inc. has a 12 month low of $9.23 and a 12 month high of $16.04. The stock has a 50 day moving average of $13.91 and a 200-day moving average of $12.89. The company has a market capitalization of $1.97 billion, a P/E ratio of -7.73, a P/E/G ratio of 0.24 and a beta of 0.93.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period last year, the firm posted $0.44 EPS. The firm’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. As a group, equities research analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current year.

Insider Buying and Selling

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

Analysts Set New Price Targets

OI has been the subject of a number of analyst reports. Wells Fargo & Company restated a “mixed” rating on shares of O-I Glass in a research note on Monday, August 4th. BNP Paribas Exane initiated coverage on O-I Glass in a research note on Wednesday, June 25th. They issued an “outperform” rating and a $18.00 price target for the company. BNP Paribas set a $18.00 price target on O-I Glass in a research note on Wednesday, June 25th. UBS Group restated a “buy” rating and issued a $19.00 price target (up from $17.00) on shares of O-I Glass in a research note on Wednesday, July 9th. Finally, Truist Financial set a $21.00 price target on O-I Glass and gave the company a “buy” rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.00.

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.