O-I Glass Target of Unusually High Options Trading (NYSE:OI)

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

Insider Buying and Selling

In other news, Director John Humphrey purchased 15,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average price of $11.30 per share, for a total transaction of $169,500.00. Following the completion of the transaction, the director now owns 84,227 shares of the company’s stock, valued at $951,765.10. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.49% of the stock is owned by company insiders.

Hedge Funds Weigh In On O-I Glass

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its position in O-I Glass by 40.2% during the 1st quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 1,318 shares during the period. Quadrant Capital Group LLC grew its position in O-I Glass by 37.3% during the fourth quarter. Quadrant Capital Group LLC now owns 5,168 shares of the industrial products company’s stock valued at $85,000 after purchasing an additional 1,404 shares in the last quarter. Comerica Bank grew its position in O-I Glass by 1.8% during the fourth quarter. Comerica Bank now owns 81,833 shares of the industrial products company’s stock valued at $1,340,000 after purchasing an additional 1,411 shares in the last quarter. Texas Permanent School Fund Corp increased its stake in O-I Glass by 1.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 135,154 shares of the industrial products company’s stock valued at $2,242,000 after buying an additional 1,465 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in O-I Glass by 8.7% in the 1st 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. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. 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. Citigroup dropped their price target on shares of O-I Glass from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, July 8th. Bank of America reiterated a “neutral” rating and issued a $16.00 price objective (down from $21.00) on shares of O-I Glass in a report on Friday, April 19th. Barclays lowered their price objective on shares of O-I Glass from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Finally, Wells Fargo & Company cut their target price on O-I Glass from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.89.

O-I Glass Trading Up 2.7 %

O-I Glass stock opened at $11.23 on Friday. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -7.06, a price-to-earnings-growth ratio of 1.27 and a beta of 1.24. O-I Glass has a 1 year low of $10.08 and a 1 year high of $20.31. The firm’s 50 day moving average price is $11.44 and its two-hundred day moving average price is $13.89. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.56 and a current ratio of 1.26.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the company posted $0.88 EPS. O-I Glass’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, research analysts predict that O-I Glass will post 1.6 EPS for the current fiscal year.

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.