Traders Purchase Large Volume of O-I Glass Call Options (NYSE:OI)

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

Insider Buying and Selling

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

Institutional Trading of O-I Glass

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp grew its position in shares of O-I Glass by 6.1% in the second quarter. Mackenzie Financial Corp now owns 20,091 shares of the industrial products company’s stock valued at $224,000 after purchasing an additional 1,162 shares during the last quarter. Bessemer Group Inc. grew its position in O-I Glass by 40.2% during the first quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company’s stock worth $76,000 after buying an additional 1,318 shares in the last quarter. Texas Permanent School Fund Corp grew its position in O-I Glass by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 135,154 shares of the industrial products company’s stock worth $2,242,000 after buying an additional 1,465 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in O-I Glass by 8.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 21,281 shares of the industrial products company’s stock worth $357,000 after buying an additional 1,695 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its position in O-I Glass by 2.2% during the second quarter. Louisiana State Employees Retirement System now owns 78,300 shares of the industrial products company’s stock worth $871,000 after buying an additional 1,700 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

Wall Street Analysts Forecast Growth

OI has been the topic of several analyst reports. StockNews.com upgraded O-I Glass from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Robert W. Baird reduced their price objective 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. Truist Financial reiterated a “buy” rating and set a $16.00 price target (down previously from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. Barclays decreased their price target on O-I Glass from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Finally, UBS Group decreased their target price on O-I Glass from $26.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.63.

O-I Glass Trading Down 0.5 %

Shares of OI opened at $12.81 on Friday. The stock has a fifty day moving average price of $12.35 and a two-hundred day moving average price of $12.92. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.75 and a current ratio of 1.26. O-I Glass has a 52-week low of $10.08 and a 52-week high of $17.58. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -8.06, a PEG ratio of 1.92 and a beta of 1.17.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The company’s revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 earnings per share. Analysts predict that O-I Glass will post 1.13 EPS for the current fiscal year.

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.