O-I Glass Sees Unusually Large Options Volume (NYSE:OI)

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

O-I Glass Stock Performance

NYSE OI opened at $11.23 on Friday. The company has a market cap of $1.75 billion, a P/E ratio of -7.06, a P/E/G ratio of 1.27 and a beta of 1.24. O-I Glass has a 1-year low of $10.08 and a 1-year high of $20.31. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.26 and a quick ratio of 0.56. The stock has a 50-day moving average of $11.44 and a two-hundred day moving average of $13.89.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. O-I Glass had a negative net margin of 4.32% and a positive return on equity of 15.64%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the company posted $0.88 EPS. The firm’s revenue was down 8.5% compared to the same quarter last year. As a group, analysts anticipate that O-I Glass will post 1.6 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on OI shares. Citigroup decreased their price target on shares of O-I Glass from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, July 8th. Robert W. Baird decreased their target price on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. StockNews.com upgraded O-I Glass from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. UBS Group reduced their price objective on O-I Glass from $26.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, Barclays dropped their target price on O-I Glass from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.89.

Insiders Place Their Bets

In other O-I Glass news, Director John Humphrey bought 15,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $11.30 per share, for a total transaction of $169,500.00. Following the transaction, the director now directly owns 84,227 shares of the company’s stock, valued at approximately $951,765.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.49% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OI. Fidelis Capital Partners LLC purchased a new stake in O-I Glass during the 1st quarter worth about $33,000. TFO Wealth Partners LLC lifted its stake in O-I Glass by 24,311.1% during the fourth quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 2,188 shares during the last quarter. FinTrust Capital Advisors LLC acquired a new position in O-I Glass in the first quarter valued at approximately $38,000. Headlands Technologies LLC purchased a new position in O-I Glass in the first quarter valued at approximately $39,000. Finally, International Assets Investment Management LLC raised its holdings in O-I Glass by 1,538.0% during the fourth quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 3,845 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

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.