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

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

Institutional Investors Weigh In On O-I Glass

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC increased its holdings in shares of O-I Glass by 87.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 830 shares in the last quarter. Headlands Technologies LLC acquired a new position in O-I Glass during the second quarter worth about $29,000. State of Wyoming acquired a new position in O-I Glass during the second quarter worth about $35,000. Smartleaf Asset Management LLC increased its holdings in O-I Glass by 64.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock valued at $35,000 after buying an additional 918 shares in the last quarter. Finally, First Horizon Corp lifted its position in shares of O-I Glass by 2,125.5% during the 4th quarter. First Horizon Corp now owns 3,227 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 3,082 shares during the period. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Price Performance

Shares of NYSE:OI opened at $16.57 on Thursday. O-I Glass has a 52 week low of $9.23 and a 52 week high of $16.63. The company has a 50-day moving average price of $15.00 and a 200 day moving average price of $13.63. The company has a market cap of $2.55 billion, a P/E ratio of -17.63, a PEG ratio of 0.19 and a beta of 0.78. The company has a quick ratio of 0.84, a current ratio of 1.33 and a debt-to-equity ratio of 3.36.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, November 4th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. O-I Glass had a positive return on equity of 16.02% and a negative net margin of 2.26%.The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the business posted ($0.04) EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Research analysts predict that O-I Glass will post 1.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on OI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of O-I Glass in a research note on Thursday, January 22nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $19.00 target price on shares of O-I Glass in a research note on Thursday, January 15th. Zacks Research lowered O-I Glass from a “strong-buy” rating to a “hold” rating in a report on Monday. Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and upped their price objective for the company from $14.00 to $17.00 in a research note on Monday, November 17th. Finally, Wall Street Zen cut O-I Glass from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 28th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.88.

O-I Glass Company Profile

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.