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

Posted by on Jun 15th, 2023

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

Institutional Trading of O-I Glass

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in shares of O-I Glass by 104.9% in the fourth quarter. IFP Advisors Inc now owns 912 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 467 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of O-I Glass by 5.3% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,577 shares of the industrial products company’s stock valued at $159,000 after purchasing an additional 485 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its position in shares of O-I Glass by 5.3% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 9,577 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 485 shares during the period. Ziegler Capital Management LLC boosted its stake in shares of O-I Glass by 1.0% during the first quarter. Ziegler Capital Management LLC now owns 52,669 shares of the industrial products company’s stock valued at $1,196,000 after purchasing an additional 496 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in shares of O-I Glass by 1.4% during the third quarter. Neuberger Berman Group LLC now owns 46,004 shares of the industrial products company’s stock valued at $596,000 after purchasing an additional 656 shares in the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

O-I Glass Price Performance

Shares of O-I Glass stock opened at $20.86 on Thursday. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 4.73, a PEG ratio of 0.48 and a beta of 1.37. The company has a quick ratio of 0.77, a current ratio of 1.22 and a debt-to-equity ratio of 2.34. The stock’s 50-day simple moving average is $21.71 and its 200-day simple moving average is $20.45. O-I Glass has a 52 week low of $11.60 and a 52 week high of $23.52.

O-I Glass (NYSE:OI – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.46. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.78 billion. O-I Glass had a net margin of 10.04% and a return on equity of 31.48%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share. As a group, analysts expect that O-I Glass will post 3.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on OI shares. Robert W. Baird lifted their price objective on O-I Glass from $26.00 to $30.00 in a research note on Thursday, April 27th. StockNews.com cut shares of O-I Glass from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Wells Fargo & Company increased their price objective on shares of O-I Glass from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, April 5th. Royal Bank of Canada lifted their target price on shares of O-I Glass from $34.00 to $37.00 in a report on Thursday, April 27th. Finally, Barclays increased their price target on shares of O-I Glass from $18.00 to $19.00 in a report on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, O-I Glass has an average rating of “Hold” and a consensus price target of $25.11.

About O-I Glass

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O-I Glass, Inc engages in manufacturing of glass products. It offers products to the food and beverage sectors. The firm operates through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded in 1929 and is headquartered in Perrysburg, OH.

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