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

O-I Glass, Inc. (NYSE:OI) saw some unusual options trading on Wednesday. Traders acquired 2,354 call options on the company. This is an increase of approximately 3,039% compared to the typical volume of 75 call options.

Insider Buying and Selling

In related news, SVP Darrow A. Abrahams acquired 2,774 shares of O-I Glass stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $9.04 per share, with a total value of $25,076.96. Following the transaction, the senior vice president directly owned 235,928 shares in the company, valued at approximately $2,132,789.12. This represents a 1.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Randolph L. Burns acquired 11,000 shares of O-I Glass stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average cost of $9.32 per share, with a total value of $102,520.00. Following the transaction, the senior vice president owned 133,932 shares in the company, valued at $1,248,246.24. This represents a 8.95% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.00% of the stock is owned by company insiders.

Institutional Trading of O-I Glass

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of O-I Glass by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,349,218 shares of the industrial products company’s stock worth $250,959,000 after buying an additional 691,989 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of O-I Glass by 8.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,238,635 shares of the industrial products company’s stock worth $97,094,000 after buying an additional 729,191 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of O-I Glass by 0.7% in the 3rd quarter. Alliancebernstein L.P. now owns 7,996,786 shares of the industrial products company’s stock worth $103,718,000 after buying an additional 56,945 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of O-I Glass by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 3,783,387 shares of the industrial products company’s stock worth $55,852,000 after buying an additional 22,430 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of O-I Glass by 288.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,215,632 shares of the industrial products company’s stock worth $47,463,000 after buying an additional 2,388,299 shares during the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Truist Financial reaffirmed a “buy” rating and set a $14.00 price objective (down from $15.00) on shares of O-I Glass in a research report on Thursday, April 30th. Robert W. Baird set a $20.00 price objective on O-I Glass in a research report on Thursday, February 12th. Royal Bank Of Canada set a $14.00 price objective on O-I Glass in a research report on Friday, April 17th. Wells Fargo & Company lowered O-I Glass from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $18.00 to $13.00 in a research report on Friday, March 20th. Finally, Wall Street Zen lowered O-I Glass from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, O-I Glass currently has an average rating of “Hold” and a consensus target price of $15.50.

O-I Glass Stock Performance

Shares of OI opened at $8.99 on Thursday. The business’s fifty day simple moving average is $10.45 and its two-hundred day simple moving average is $12.99. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 3.35. O-I Glass has a 12 month low of $8.00 and a 12 month high of $16.91. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -7.37, a P/E/G ratio of 1.01 and a beta of 0.65.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, April 28th. The industrial products company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.04). O-I Glass had a negative net margin of 2.91% and a positive return on equity of 13.65%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the prior year, the business posted $0.40 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. 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 fiscal 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.