O-I Glass Target of Unusually High Options Trading (NYSE:OI)

O-I Glass, Inc. (NYSE:OI) was the recipient of unusually large options trading activity on Wednesday. Stock investors acquired 2,354 call options on the company. This represents an increase of 3,039% compared to the average daily volume of 75 call options.

Institutional Trading of O-I Glass

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OI. Vanguard Group Inc. increased its holdings in shares of O-I Glass by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 19,362,262 shares of the industrial products company’s stock worth $321,220,000 after purchasing an additional 221,823 shares during the period. Dimensional Fund Advisors LP increased its stake in O-I Glass by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock valued at $78,952,000 after acquiring an additional 573,300 shares during the period. Levin Capital Strategies L.P. raised its holdings in O-I Glass by 25.0% in the 2nd quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company’s stock valued at $39,082,000 after acquiring an additional 703,308 shares in the last quarter. Private Management Group Inc. lifted its position in shares of O-I Glass by 20.8% in the 3rd quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company’s stock worth $39,698,000 after acquiring an additional 520,452 shares during the period. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of O-I Glass during the 3rd quarter worth approximately $32,350,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Stock Performance

O-I Glass stock traded down $0.17 during trading hours on Friday, reaching $12.97. 1,277,280 shares of the company were exchanged, compared to its average volume of 1,691,872. O-I Glass has a 12 month low of $10.08 and a 12 month high of $17.58. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. The stock has a 50-day moving average of $12.65 and a 200 day moving average of $12.29. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -4.76 and a beta of 1.20.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business posted $0.80 earnings per share. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. As a group, research analysts anticipate that O-I Glass will post 0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Royal Bank of Canada dropped their price target on O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday. Robert W. Baird decreased their price target on O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Barclays cut their price objective on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, Bank of America upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.00 to $16.00 in a report on Thursday, October 17th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, O-I Glass presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.25.

O-I Glass Company 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.