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

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

O-I Glass Stock Up 2.7 %

Shares of O-I Glass stock opened at $21.48 on Thursday. The company has a current ratio of 1.22, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34. The company’s fifty day simple moving average is $21.79 and its two-hundred day simple moving average is $19.73. The company has a market cap of $3.34 billion, a P/E ratio of 4.87, a PEG ratio of 0.48 and a beta of 1.36. O-I Glass has a 12-month low of $11.60 and a 12-month high of $23.52.

O-I Glass (NYSE:OI – Get Rating) last released its earnings results on Tuesday, April 25th. The industrial products company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.46. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.78 billion. O-I Glass had a net margin of 10.04% and a return on equity of 31.48%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 EPS. Research analysts anticipate that O-I Glass will post 3.16 EPS for the current year.

Institutional Trading of O-I Glass

A number of hedge funds and other institutional investors have recently modified their holdings of OI. Levin Capital Strategies L.P. boosted its stake in O-I Glass by 91.9% in the 3rd quarter. Levin Capital Strategies L.P. now owns 3,376,203 shares of the industrial products company’s stock worth $43,722,000 after purchasing an additional 1,616,942 shares in the last quarter. Norges Bank bought a new position in O-I Glass in the 4th quarter worth about $26,558,000. Alliancebernstein L.P. boosted its stake in O-I Glass by 116.3% in the 4th quarter. Alliancebernstein L.P. now owns 2,291,497 shares of the industrial products company’s stock worth $37,970,000 after purchasing an additional 1,231,866 shares in the last quarter. Millennium Management LLC lifted its stake in O-I Glass by 3,268.7% during the 4th quarter. Millennium Management LLC now owns 1,108,594 shares of the industrial products company’s stock valued at $18,369,000 after acquiring an additional 1,075,685 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in O-I Glass by 7,574.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,074,462 shares of the industrial products company’s stock valued at $13,914,000 after acquiring an additional 1,060,462 shares during the period. 93.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on OI. KeyCorp boosted their price objective on shares of O-I Glass from $12.00 to $15.00 and gave the stock an “underweight” rating in a report on Thursday, February 2nd. StockNews.com assumed coverage on shares of O-I Glass in a research note on Thursday. They issued a “buy” rating on the stock. Robert W. Baird lifted their target price on shares of O-I Glass from $26.00 to $30.00 in a research note on Thursday, April 27th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of O-I Glass from $18.00 to $24.00 and gave the stock a “hold” rating in a research note on Thursday, February 2nd. Finally, Citigroup lifted their target price on shares of O-I Glass from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, February 3rd. Two analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.70.

About O-I Glass

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O-I Glass, Inc engages in manufacturing of glass products. It offers products to the food and beverage sectors. The firm operates through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded in 1929 and is headquartered in Perrysburg, OH.