O-I Glass, Inc. (NYSE:OI – Get Rating) was the recipient of unusually large options trading on Wednesday. Stock investors bought 2,354 call options on the stock. This represents an increase of 3,039% compared to the typical volume of 75 call options.
Insider Buying and Selling
In related news, SVP Arnaud Aujouannet sold 2,510 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $22.33, for a total transaction of $56,048.30. Following the completion of the sale, the senior vice president now directly owns 55,368 shares in the company, valued at $1,236,367.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other O-I Glass news, SVP Arnaud Aujouannet sold 2,510 shares of the company’s stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $22.33, for a total value of $56,048.30. Following the completion of the sale, the senior vice president now directly owns 55,368 shares in the company, valued at approximately $1,236,367.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Vitaliano Torno sold 17,299 shares of the company’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $22.22, for a total value of $384,383.78. Following the completion of the sale, the insider now owns 158,010 shares of the company’s stock, valued at $3,510,982.20. The disclosure for this sale can be found here. 1.34% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in O-I Glass by 1.5% during the third quarter. Vanguard Group Inc. now owns 19,597,610 shares of the industrial products company’s stock worth $253,789,000 after buying an additional 291,640 shares during the period. State Street Corp increased its holdings in shares of O-I Glass by 0.9% in the third quarter. State Street Corp now owns 5,841,163 shares of the industrial products company’s stock valued at $75,643,000 after purchasing an additional 54,511 shares during the period. Great West Life Assurance Co. Can acquired a new position in shares of O-I Glass in the third quarter valued at approximately $70,013,000. Dimensional Fund Advisors LP increased its holdings in shares of O-I Glass by 13.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,854,673 shares of the industrial products company’s stock valued at $63,873,000 after purchasing an additional 465,410 shares during the period. Finally, Levin Capital Strategies L.P. increased its holdings in shares of O-I Glass by 91.9% in the third quarter. Levin Capital Strategies L.P. now owns 3,376,203 shares of the industrial products company’s stock valued at $43,722,000 after purchasing an additional 1,616,942 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.
O-I Glass Price Performance
OI stock opened at $22.52 on Thursday. The business has a 50 day moving average price of $21.80 and a 200 day moving average price of $18.21. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 6.14, a PEG ratio of 1.27 and a beta of 1.36. O-I Glass has a fifty-two week low of $11.60 and a fifty-two week high of $23.52. The company has a quick ratio of 0.74, a current ratio of 1.10 and a debt-to-equity ratio of 2.86.
O-I Glass (NYSE:OI – Get Rating) last posted its earnings results on Tuesday, January 31st. The industrial products company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.06. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.59 billion. O-I Glass had a return on equity of 27.42% and a net margin of 8.52%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 earnings per share. Equities research analysts anticipate that O-I Glass will post 2.51 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on OI shares. Robert W. Baird increased their price target on O-I Glass from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. StockNews.com started coverage on O-I Glass in a report on Thursday, March 16th. They set a “buy” rating for the company. Royal Bank of Canada upgraded O-I Glass from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $20.00 to $34.00 in a report on Thursday, February 2nd. Truist Financial increased their price target on O-I Glass from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, February 2nd. Finally, Wells Fargo & Company increased their price target on O-I Glass from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, O-I Glass currently has a consensus rating of “Moderate Buy” and an average price target of $23.50.
About O-I Glass
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.