Maryland State Retirement & Pension System Has $1.29 Million Holdings in O-I Glass, Inc. (NYSE:OI)

Posted by Defense World Staff on Sep 23rd, 2023

Maryland State Retirement & Pension System lessened its position in O-I Glass, Inc. (NYSE:OI – Free Report) by 2.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 60,495 shares of the industrial products company’s stock after selling 1,666 shares during the period. Maryland State Retirement & Pension System’s holdings in O-I Glass were worth $1,290,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY boosted its position in shares of O-I Glass by 5.3% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,577 shares of the industrial products company’s stock valued at $159,000 after buying an additional 485 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its position in shares of O-I Glass by 5.3% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 9,577 shares of the industrial products company’s stock valued at $159,000 after buying an additional 485 shares during the last quarter. Ziegler Capital Management LLC boosted its position in shares of O-I Glass by 1.0% during the first quarter. Ziegler Capital Management LLC now owns 52,669 shares of the industrial products company’s stock valued at $1,196,000 after buying an additional 496 shares during the last quarter. Neuberger Berman Group LLC boosted its position in shares of O-I Glass by 1.4% during the third quarter. Neuberger Berman Group LLC now owns 46,004 shares of the industrial products company’s stock valued at $596,000 after buying an additional 656 shares during the last quarter. Finally, Belpointe Asset Management LLC boosted its position in shares of O-I Glass by 109.4% during the first quarter. Belpointe Asset Management LLC now owns 1,518 shares of the industrial products company’s stock valued at $34,000 after buying an additional 793 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on OI shares. Bank of America dropped their price target on O-I Glass from $31.00 to $28.00 in a report on Monday, July 10th. Credit Suisse Group lowered O-I Glass from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $21.00 to $22.00 in a report on Wednesday, September 13th. Royal Bank of Canada dropped their price target on O-I Glass from $37.00 to $32.00 and set an “outperform” rating on the stock in a report on Thursday, August 3rd. Citigroup dropped their price target on O-I Glass from $28.00 to $27.00 in a report on Monday, July 10th. Finally, StockNews.com lowered O-I Glass from a “buy” rating to a “hold” rating in a report on Monday, September 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, O-I Glass currently has an average rating of “Hold” and a consensus target price of $25.60.

Check Out Our Latest Stock Analysis on OI

O-I Glass Price Performance

Shares of NYSE OI opened at $17.20 on Friday. The stock has a market cap of $2.67 billion, a PE ratio of 4.90, a price-to-earnings-growth ratio of 0.38 and a beta of 1.37. O-I Glass, Inc. has a fifty-two week low of $12.05 and a fifty-two week high of $23.57. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.94 and a current ratio of 1.42. The stock has a fifty day moving average of $20.15 and a 200-day moving average of $21.12.

O-I Glass (NYSE:OI – Get Free Report) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.05. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. O-I Glass had a return on equity of 28.93% and a net margin of 7.88%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 earnings per share. Equities research analysts anticipate that O-I Glass, Inc. will post 3.21 earnings per share for the current year.

O-I Glass Profile

(Free Report)

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.