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

O-I Glass, Inc. (NYSE:OI) was the recipient of some unusual options trading activity on Wednesday. Stock investors acquired 2,354 call options on the stock. This is an increase of approximately 3,039% compared to the typical daily volume of 75 call options.

Institutional Trading of O-I Glass

A number of hedge funds have recently bought and sold shares of the business. Diversified Trust Co raised its stake in O-I Glass by 10.0% in the 4th quarter. Diversified Trust Co now owns 54,551 shares of the industrial products company’s stock valued at $591,000 after acquiring an additional 4,955 shares during the period. JPMorgan Chase & Co. lifted its position in shares of O-I Glass by 18.0% during the third quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company’s stock worth $8,130,000 after acquiring an additional 94,671 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of O-I Glass in the third quarter worth $263,000. Geode Capital Management LLC grew its position in shares of O-I Glass by 1.1% in the third quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company’s stock valued at $46,827,000 after purchasing an additional 37,238 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of O-I Glass by 349.3% during the 3rd quarter. Barclays PLC now owns 261,161 shares of the industrial products company’s stock valued at $3,427,000 after purchasing an additional 203,037 shares during the period. 97.24% of the stock is currently owned by institutional investors.

O-I Glass Stock Performance

Shares of OI stock opened at $10.47 on Thursday. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -3.79 and a beta of 1.21. O-I Glass has a 52 week low of $9.85 and a 52 week high of $17.58. The firm has a 50 day moving average of $11.71 and a 200-day moving average of $11.97. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. O-I Glass’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.80 earnings per share. On average, equities analysts forecast that O-I Glass will post 0.76 earnings per share for the current year.

Wall Street Analyst Weigh In

OI has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price target on O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday. Royal Bank of Canada dropped their price objective on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Barclays reduced their target price on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Bank of America upped their price target on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday. Finally, StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, O-I Glass currently has a consensus rating of “Moderate Buy” and an average price target of $15.38.

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.