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

O-I Glass, Inc. (NYSE:OI) was the recipient of unusually large options trading activity on Wednesday. Investors purchased 10,026 call options on the company. This represents an increase of 1,104% compared to the typical daily volume of 833 call options.

O-I Glass Stock Up 0.6%

NYSE:OI traded up $0.06 during trading hours on Wednesday, hitting $9.69. 986,688 shares of the company traded hands, compared to its average volume of 2,471,899. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 3.35. The company has a market cap of $1.48 billion, a PE ratio of -7.94, a PEG ratio of 1.10 and a beta of 0.63. The firm’s 50-day simple moving average is $9.12 and its 200-day simple moving average is $11.99. O-I Glass has a one year low of $7.75 and a one year high of $16.91.

O-I Glass (NYSE:OI) last announced 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 firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the prior year, the company earned $0.40 EPS. 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. Equities analysts predict that O-I Glass will post 1.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Royal Bank Of Canada set a $14.00 price objective on O-I Glass in a research note on Friday, April 17th. Zacks Research downgraded shares of O-I Glass from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 3rd. Weiss Ratings upgraded shares of O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 11th. Wells Fargo & Company downgraded shares of O-I Glass from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $18.00 to $13.00 in a report on Friday, March 20th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $14.00 price objective (down from $15.00) on shares of O-I Glass in a research note on Thursday, April 30th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.14.

Insider Transactions at O-I Glass

In other news, SVP Eduardo Restrepo purchased 3,309 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $8.98 per share, for a total transaction of $29,714.82. Following the purchase, the senior vice president owned 94,199 shares of the company’s stock, valued at approximately $845,907.02. The trade was a 3.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Randolph L. Burns purchased 11,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were acquired at an average cost of $9.32 per share, with a total value of $102,520.00. Following the purchase, the senior vice president directly owned 133,932 shares of the company’s stock, valued at approximately $1,248,246.24. The trade was a 8.95% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 17,083 shares of company stock valued at $157,312. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On O-I Glass

Several hedge funds have recently modified their holdings of OI. PNC Financial Services Group Inc. boosted its stake in shares of O-I Glass by 1.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 37,828 shares of the industrial products company’s stock worth $558,000 after buying an additional 701 shares during the last quarter. Barclays PLC increased its position in shares of O-I Glass by 0.3% during the fourth quarter. Barclays PLC now owns 246,766 shares of the industrial products company’s stock valued at $3,642,000 after acquiring an additional 755 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of O-I Glass by 87.6% during the fourth quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 830 shares during the last quarter. ProShare Advisors LLC lifted its holdings in O-I Glass by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 29,887 shares of the industrial products company’s stock worth $441,000 after acquiring an additional 911 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in O-I Glass by 64.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 918 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.

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.