Owens-Illinois Inc (NYSE:OI) saw some unusual options trading activity on Wednesday. Investors bought 1,319 call options on the stock. This represents an increase of approximately 1,067% compared to the average volume of 113 call options.

Several brokerages have commented on OI. Wells Fargo & Co dropped their price target on shares of Owens-Illinois from $24.00 to $23.00 and set a “market perform” rating on the stock in a research note on Friday. Vertical Research upgraded shares of Owens-Illinois to a “buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, February 7th. Zacks Investment Research lowered shares of Owens-Illinois from a “hold” rating to a “sell” rating in a research note on Monday, January 29th. Royal Bank of Canada restated a “hold” rating and issued a $26.00 price target on shares of Owens-Illinois in a research note on Thursday, December 14th. Finally, KeyCorp restated a “hold” rating on shares of Owens-Illinois in a research note on Friday, November 10th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $26.15.

Owens-Illinois (NYSE:OI) opened at $21.07 on Monday. Owens-Illinois has a 12 month low of $19.12 and a 12 month high of $25.90. The company has a current ratio of 1.06, a quick ratio of 0.74 and a debt-to-equity ratio of 5.52. The company has a market cap of $3,434.22, a P/E ratio of 19.15, a P/E/G ratio of 1.13 and a beta of 1.46.

Owens-Illinois (NYSE:OI) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. Owens-Illinois had a net margin of 2.65% and a return on equity of 53.60%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the business earned $0.50 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. research analysts expect that Owens-Illinois will post 2.81 EPS for the current fiscal year.

Owens-Illinois declared that its board has approved a share buyback plan on Tuesday, February 6th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Several hedge funds and other institutional investors have recently bought and sold shares of OI. Alliancebernstein L.P. increased its stake in shares of Owens-Illinois by 9.6% during the second quarter. Alliancebernstein L.P. now owns 109,724 shares of the industrial products company’s stock valued at $2,625,000 after acquiring an additional 9,650 shares during the period. New York State Common Retirement Fund increased its stake in shares of Owens-Illinois by 1.4% during the second quarter. New York State Common Retirement Fund now owns 354,770 shares of the industrial products company’s stock valued at $8,486,000 after acquiring an additional 4,799 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of Owens-Illinois by 13.3% during the second quarter. UBS Asset Management Americas Inc. now owns 168,712 shares of the industrial products company’s stock valued at $4,036,000 after acquiring an additional 19,777 shares during the period. Northern Trust Corp increased its stake in shares of Owens-Illinois by 0.3% during the second quarter. Northern Trust Corp now owns 1,506,408 shares of the industrial products company’s stock valued at $36,034,000 after acquiring an additional 4,383 shares during the period. Finally, FMR LLC increased its stake in shares of Owens-Illinois by 37.4% during the second quarter. FMR LLC now owns 1,446,740 shares of the industrial products company’s stock valued at $34,606,000 after acquiring an additional 393,560 shares during the period. Institutional investors and hedge funds own 94.88% of the company’s stock.

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About Owens-Illinois

Owens-Illinois, Inc is a manufacturer of glass container products. The Company’s principal product lines are glass containers for the food and beverage industries. The Company’s segments include Europe, North America, Latin America and Asia Pacific. The Company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine.

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