Stock Traders Buy High Volume of O-I Glass Call Options (NYSE:OI)

O-I Glass, Inc. (NYSE:OI) was the target of some unusual options trading activity on Wednesday. Stock traders bought 2,354 call options on the stock. This is an increase of approximately 3,039% compared to the average daily volume of 75 call options.

Insider Activity

In other O-I Glass news, SVP Darrow A. Abrahams bought 2,774 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $9.04 per share, for a total transaction of $25,076.96. Following the transaction, the senior vice president owned 235,928 shares of the company’s stock, valued at $2,132,789.12. This represents a 1.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Randolph L. Burns bought 11,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were acquired at an average price of $9.32 per share, for a total transaction of $102,520.00. Following the completion of the transaction, the senior vice president directly owned 133,932 shares in the company, valued at approximately $1,248,246.24. This represents a 8.95% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of O-I Glass

Several institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its stake in O-I Glass by 15.6% in the first quarter. Cetera Investment Advisers now owns 44,720 shares of the industrial products company’s stock worth $470,000 after purchasing an additional 6,027 shares during the last quarter. Icon Advisers Inc. Co. lifted its stake in O-I Glass by 7.5% in the first quarter. Icon Advisers Inc. Co. now owns 285,000 shares of the industrial products company’s stock worth $2,995,000 after purchasing an additional 20,000 shares during the last quarter. First Trust Advisors LP lifted its stake in O-I Glass by 122.7% in the first quarter. First Trust Advisors LP now owns 100,718 shares of the industrial products company’s stock worth $1,059,000 after purchasing an additional 55,491 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in O-I Glass by 8.6% in the first quarter. Dimensional Fund Advisors LP now owns 9,238,635 shares of the industrial products company’s stock worth $97,094,000 after purchasing an additional 729,191 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in O-I Glass by 954.2% in the first quarter. Bessemer Group Inc. now owns 14,200 shares of the industrial products company’s stock worth $150,000 after purchasing an additional 12,853 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OI. Wells Fargo & Company cut shares of O-I Glass from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $18.00 to $13.00 in a research report on Friday, March 20th. Zacks Research cut shares of O-I Glass from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of O-I Glass in a research report on Tuesday, April 21st. Robert W. Baird set a $20.00 target price on shares of O-I Glass in a research report on Thursday, February 12th. Finally, Wall Street Zen cut shares of O-I Glass from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.50.

O-I Glass Stock Up 2.4%

Shares of NYSE OI opened at $8.99 on Thursday. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.26 and a quick ratio of 0.73. The company has a market cap of $1.38 billion, a P/E ratio of -7.37, a PEG ratio of 1.01 and a beta of 0.65. O-I Glass has a 1 year low of $8.00 and a 1 year high of $16.91. The firm has a 50-day simple moving average of $10.45 and a two-hundred day simple moving average of $12.99.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.04). The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.47 billion. O-I Glass had a positive return on equity of 13.65% and a negative net margin of 2.91%.The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 EPS. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. Research analysts anticipate that O-I Glass will post 1.2 earnings per share for the current 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.