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

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. UBS Group decreased their target price 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. Barclays decreased their price objective on O-I Glass from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Robert W. Baird dropped their target price on O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Wells Fargo & Company decreased their price target on shares of O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Finally, Royal Bank of Canada dropped their price objective on shares of O-I Glass from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Four 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 has a consensus rating of “Moderate Buy” and a consensus price target of $16.63.

Insider Buying and Selling

In related news, Director John Humphrey acquired 15,000 shares of O-I Glass stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of $11.30 per share, with a total value of $169,500.00. Following the completion of the transaction, the director now directly owns 84,227 shares in the company, valued at $951,765.10. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.49% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OI. Vanguard Group Inc. boosted its stake in shares of O-I Glass by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 19,362,262 shares of the industrial products company’s stock valued at $321,220,000 after purchasing an additional 221,823 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in O-I Glass by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock valued at $78,952,000 after buying an additional 573,300 shares in the last quarter. Levin Capital Strategies L.P. boosted its position in O-I Glass by 25.0% in the second quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company’s stock valued at $39,082,000 after buying an additional 703,308 shares in the last quarter. Private Management Group Inc. grew its stake in shares of O-I Glass by 21.3% during the second quarter. Private Management Group Inc. now owns 2,505,279 shares of the industrial products company’s stock worth $27,884,000 after buying an additional 439,838 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of O-I Glass by 27.5% during the second quarter. Millennium Management LLC now owns 1,965,426 shares of the industrial products company’s stock worth $21,875,000 after buying an additional 424,102 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Price Performance

Shares of NYSE:OI opened at $12.73 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 2.85. The stock has a market capitalization of $1.98 billion, a PE ratio of -8.01, a PEG ratio of 1.88 and a beta of 1.17. The firm has a 50 day moving average of $12.60 and a 200-day moving average of $12.73. O-I Glass has a 12 month low of $10.08 and a 12 month high of $17.58.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the company earned $0.88 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. On average, equities research 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.