Allianz Asset Management GmbH Has $1.38 Million Stock Holdings in O-I Glass, Inc. $OI

Allianz Asset Management GmbH lessened its holdings in O-I Glass, Inc. (NYSE:OI) by 29.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,877 shares of the industrial products company’s stock after selling 38,345 shares during the period. Allianz Asset Management GmbH owned about 0.06% of O-I Glass worth $1,384,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OI. MetLife Investment Management LLC increased its stake in O-I Glass by 1,043.3% in the 1st quarter. MetLife Investment Management LLC now owns 1,074,764 shares of the industrial products company’s stock valued at $12,328,000 after buying an additional 980,758 shares during the last quarter. Nuveen LLC bought a new stake in shares of O-I Glass in the first quarter valued at $10,738,000. Hawk Ridge Capital Management LP bought a new position in shares of O-I Glass during the 1st quarter worth $7,085,000. Alliancebernstein L.P. increased its holdings in O-I Glass by 20.8% in the 1st quarter. Alliancebernstein L.P. now owns 2,695,401 shares of the industrial products company’s stock worth $30,916,000 after acquiring an additional 464,557 shares during the last quarter. Finally, Advisors Preferred LLC purchased a new stake in O-I Glass in the 1st quarter worth about $2,775,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Up 0.7%

Shares of NYSE:OI opened at $12.61 on Friday. The firm has a fifty day moving average price of $12.70 and a two-hundred day moving average price of $13.18. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.24 and a quick ratio of 0.77. O-I Glass, Inc. has a one year low of $9.23 and a one year high of $16.04. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -7.64, a PEG ratio of 0.24 and a beta of 0.93.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Wednesday, March 1st. The industrial products company reported $0.36 EPS for the quarter. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. The firm had revenue of $1.59 billion during the quarter. Analysts anticipate that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Bank of America reiterated a “neutral” rating and set a $17.00 target price (up previously from $15.00) on shares of O-I Glass in a research report on Wednesday, July 9th. Wall Street Zen cut shares of O-I Glass from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Zacks Research downgraded shares of O-I Glass from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Wells Fargo & Company reissued a “mixed” rating on shares of O-I Glass in a report on Monday, August 4th. Finally, Truist Financial lowered their target price on shares of O-I Glass from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.56.

Insider Buying and Selling at O-I Glass

In other news, SVP Darrow A. Abrahams purchased 3,828 shares of the business’s stock in a transaction on Tuesday, August 5th. The stock was purchased at an average cost of $13.05 per share, with a total value of $49,955.40. Following the acquisition, the senior vice president directly owned 184,447 shares in the company, valued at approximately $2,407,033.35. This trade represents a 2.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gordon Hardie purchased 8,000 shares of the business’s stock in a transaction on 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 completion of the acquisition, the chief executive officer owned 515,817 shares in the company, valued at approximately $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. 0.93% of the stock is owned by company insiders.

About O-I Glass

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.