O-I Glass, Inc. (NYSE:OI - Get Free Report) saw some unusual options trading activity on Wednesday. Investors purchased 2,354 call options on the company. This represents an increase of 3,039% compared to the typical daily volume of 75 call options.
Hedge Funds Weigh In On O-I Glass
A number of large investors have recently made changes to their positions in OI. Barclays PLC boosted its position in O-I Glass by 349.3% in the 3rd quarter. Barclays PLC now owns 261,161 shares of the industrial products company's stock valued at $3,427,000 after buying an additional 203,037 shares during the period. SG Americas Securities LLC boosted its position in O-I Glass by 27.5% in the 4th quarter. SG Americas Securities LLC now owns 21,023 shares of the industrial products company's stock valued at $228,000 after buying an additional 4,528 shares during the period. KBC Group NV boosted its position in O-I Glass by 42.5% in the 4th quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock valued at $84,000 after buying an additional 2,309 shares during the period. R Squared Ltd purchased a new stake in O-I Glass in the 4th quarter valued at about $45,000. Finally, EMC Capital Management boosted its position in O-I Glass by 166.1% in the 4th quarter. EMC Capital Management now owns 21,211 shares of the industrial products company's stock valued at $230,000 after buying an additional 13,241 shares during the period. 97.24% of the stock is owned by hedge funds and other institutional investors.
O-I Glass Price Performance
Shares of NYSE:OI traded down $0.27 on Monday, reaching $12.84. The company's stock had a trading volume of 1,516,017 shares, compared to its average volume of 1,554,171. O-I Glass has a 52-week low of $9.23 and a 52-week high of $14.34. The company has a market cap of $1.99 billion, a P/E ratio of -18.08, a PEG ratio of 0.24 and a beta of 0.93. The company has a 50-day simple moving average of $12.12 and a 200 day simple moving average of $11.66. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15.
O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.22. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. The firm had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.55 billion. During the same period in the previous year, the company earned $0.45 EPS. The firm's revenue for the quarter was up .4% compared to the same quarter last year. As a group, equities research analysts anticipate that O-I Glass will post 1.33 EPS for the current fiscal year.
Analyst Ratings Changes
A number of analysts have issued reports on the stock. Wall Street Zen upgraded shares of O-I Glass from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Royal Bank of Canada reiterated an "outperform" rating and issued a $16.00 price target on shares of O-I Glass in a report on Monday, March 17th. Truist Financial reiterated a "buy" rating and issued a $16.00 price target (up from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. Barclays lifted their price target on shares of O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Finally, Citigroup lifted their price objective on shares of O-I Glass from $11.00 to $14.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, O-I Glass currently has an average rating of "Moderate Buy" and an average price target of $15.88.
Check Out Our Latest Report on OI
About O-I Glass
(
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O-I Glass, Inc, through its subsidiaries, engages in the manufacture and sale of glass containers to food and beverage manufacturers primarily in the Americas, Europe, and internationally. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.
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