Investors Purchase High Volume of O-I Glass Call Options (NYSE:OI)

O-I Glass, Inc. (NYSE:OI) was the recipient of unusually large options trading activity on Wednesday. Stock 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.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Diversified Trust Co boosted its stake in shares of O-I Glass by 10.0% during the 4th quarter. Diversified Trust Co now owns 54,551 shares of the industrial products company’s stock worth $591,000 after acquiring an additional 4,955 shares during the last quarter. JPMorgan Chase & Co. lifted its position in O-I Glass by 18.0% during the third quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company’s stock valued at $8,130,000 after purchasing an additional 94,671 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in O-I Glass during the third quarter valued at about $263,000. Geode Capital Management LLC increased its position in O-I Glass by 1.1% in the third quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company’s stock worth $46,827,000 after buying an additional 37,238 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of O-I Glass by 349.3% in the third quarter. Barclays PLC now owns 261,161 shares of the industrial products company’s stock worth $3,427,000 after buying an additional 203,037 shares during the period. Institutional investors own 97.24% of the company’s stock.

O-I Glass Price Performance

OI opened at $10.47 on Friday. The company’s 50-day simple moving average is $11.69 and its two-hundred day simple moving average is $11.96. O-I Glass has a 52-week low of $9.85 and a 52-week high of $17.58. The stock has a market capitalization of $1.62 billion, a P/E ratio of -3.79 and a beta of 1.21. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the firm posted $0.80 EPS. As a group, analysts predict that O-I Glass will post 0.76 EPS for the current year.

Wall Street Analysts Forecast Growth

OI has been the subject of a number of recent research reports. Citigroup lowered their price target on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday. Royal Bank of Canada lowered their target price on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Barclays cut their price target on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company dropped their target price on O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.38.

About O-I Glass

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.