Stock Traders Purchase High Volume of Call Options on O-I Glass (NYSE:OI)
by Scott Moore · The Cerbat GemO-I Glass, Inc. (NYSE:OI – Get Free Report) was the recipient of unusually large options trading on Wednesday. Traders purchased 2,354 call options on the stock. This represents an increase of approximately 3,039% compared to the average volume of 75 call options.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in O-I Glass by 3.7% in the third quarter. Vanguard Group Inc. now owns 19,349,218 shares of the industrial products company’s stock worth $250,959,000 after purchasing an additional 691,989 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of O-I Glass by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,509,444 shares of the industrial products company’s stock worth $125,600,000 after acquiring an additional 277,205 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of O-I Glass by 0.7% during the third quarter. Alliancebernstein L.P. now owns 7,996,786 shares of the industrial products company’s stock valued at $103,718,000 after acquiring an additional 56,945 shares in the last quarter. Geode Capital Management LLC grew its position in O-I Glass by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 3,783,387 shares of the industrial products company’s stock valued at $55,852,000 after purchasing an additional 22,430 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in O-I Glass by 288.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,215,632 shares of the industrial products company’s stock valued at $47,463,000 after purchasing an additional 2,388,299 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. Wells Fargo & Company upgraded shares of O-I Glass from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $15.00 to $18.00 in a research report on Tuesday, January 6th. Wall Street Zen downgraded shares of O-I Glass from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Truist Financial upped their price target on shares of O-I Glass from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Royal Bank Of Canada reduced their target price on O-I Glass from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Finally, Bank of America upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $17.00 in a research report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.11.
View Our Latest Analysis on O-I Glass
O-I Glass Trading Down 4.3%
O-I Glass stock traded down $0.54 during trading hours on Thursday, reaching $11.88. The stock had a trading volume of 1,502,041 shares, compared to its average volume of 1,965,932. The company has a fifty day simple moving average of $15.09 and a 200-day simple moving average of $13.77. O-I Glass has a 52 week low of $9.23 and a 52 week high of $16.91. The stock has a market cap of $1.81 billion, a PE ratio of -14.14, a PEG ratio of 0.58 and a beta of 0.82. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.25 and a quick ratio of 0.77.
O-I Glass (NYSE:OI – Get Free Report) last posted its earnings results on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.52 billion. O-I Glass had a negative net margin of 2.01% and a positive return on equity of 18.07%. O-I Glass’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) earnings per share. Analysts forecast that O-I Glass will post 1.33 EPS for the current fiscal year.
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.