Stock Traders Purchase Large Volume of Call Options on O-I Glass (NYSE:OI)

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

O-I Glass Stock Performance

NYSE:OI opened at $15.40 on Friday. The company has a market cap of $2.37 billion, a P/E ratio of -16.38, a P/E/G ratio of 0.19 and a beta of 0.77. The firm’s 50 day moving average is $14.54 and its two-hundred day moving average is $13.61. O-I Glass has a fifty-two week low of $9.23 and a fifty-two week high of $16.04. The company has a quick ratio of 0.84, a current ratio of 1.33 and a debt-to-equity ratio of 3.36.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, November 4th. The industrial products company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. O-I Glass had a positive return on equity of 16.02% and a negative net margin of 2.26%.The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the firm posted ($0.04) EPS. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. O-I Glass has set its FY 2025 guidance at 1.550-1.650 EPS. Analysts expect that O-I Glass will post 1.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on OI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of O-I Glass in a research report on Wednesday, October 8th. Wells Fargo & Company upgraded shares of O-I Glass from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $15.00 to $18.00 in a report on Tuesday, January 6th. Royal Bank Of Canada reissued an “outperform” rating and set a $19.00 price objective on shares of O-I Glass in a research note on Thursday, January 15th. Wall Street Zen cut shares of O-I Glass from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 28th. Finally, Citigroup boosted their price target on O-I Glass from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.88.

Institutional Investors Weigh In On O-I Glass

Several institutional investors have recently bought and sold shares of OI. Royal Bank of Canada boosted its stake in shares of O-I Glass by 33.9% in the first quarter. Royal Bank of Canada now owns 112,800 shares of the industrial products company’s stock valued at $1,294,000 after purchasing an additional 28,548 shares during the period. AQR Capital Management LLC lifted its holdings in O-I Glass by 154.0% in the 1st quarter. AQR Capital Management LLC now owns 177,117 shares of the industrial products company’s stock worth $1,993,000 after buying an additional 107,388 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in O-I Glass by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,151 shares of the industrial products company’s stock valued at $1,057,000 after buying an additional 4,055 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of O-I Glass during the first quarter valued at about $119,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of O-I Glass by 43.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 526,279 shares of the industrial products company’s stock worth $6,036,000 after acquiring an additional 160,649 shares during the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

About O-I Glass

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.