O-I Glass, Inc. (NYSE:OI – Get Rating) was the target of some unusual options trading activity on Wednesday. Investors purchased 2,354 call options on the stock. This is an increase of approximately 3,039% compared to the average volume of 75 call options.
Insider Activity at O-I Glass
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In other O-I Glass news, insider Vitaliano Torno sold 17,299 shares of the stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $22.22, for a total transaction of $384,383.78. Following the transaction, the insider now owns 158,010 shares of the company’s stock, valued at $3,510,982.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other O-I Glass news, SVP Arnaud Aujouannet sold 2,510 shares of the stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $22.33, for a total transaction of $56,048.30. Following the transaction, the senior vice president now owns 55,368 shares of the company’s stock, valued at $1,236,367.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Vitaliano Torno sold 17,299 shares of the stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $22.22, for a total transaction of $384,383.78. Following the transaction, the insider now directly owns 158,010 shares in the company, valued at approximately $3,510,982.20. The disclosure for this sale can be found here. Insiders own 1.34% of the company’s stock.
Institutional Trading of O-I Glass
Institutional investors have recently made changes to their positions in the stock. Citigroup Inc. increased its holdings in O-I Glass by 6.8% in the 1st quarter. Citigroup Inc. now owns 135,235 shares of the industrial products company’s stock valued at $1,783,000 after buying an additional 8,576 shares during the period. PNC Financial Services Group Inc. increased its stake in O-I Glass by 4.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 74,856 shares of the industrial products company’s stock worth $986,000 after purchasing an additional 3,197 shares in the last quarter. Natixis Advisors L.P. increased its stake in O-I Glass by 28.0% during the 1st quarter. Natixis Advisors L.P. now owns 23,746 shares of the industrial products company’s stock worth $313,000 after purchasing an additional 5,200 shares in the last quarter. MetLife Investment Management LLC increased its stake in O-I Glass by 52.5% during the 1st quarter. MetLife Investment Management LLC now owns 78,076 shares of the industrial products company’s stock worth $1,029,000 after purchasing an additional 26,893 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of O-I Glass by 2.8% during the 1st quarter. Rhumbline Advisers now owns 413,166 shares of the industrial products company’s stock worth $5,446,000 after acquiring an additional 11,382 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. Barclays raised their price target on shares of O-I Glass from $13.00 to $18.00 and gave the company an “underweight” rating in a report on Monday, February 6th. KeyCorp raised their price target on shares of O-I Glass from $12.00 to $15.00 and gave the company an “underweight” rating in a report on Thursday, February 2nd. Truist Financial raised their price target on shares of O-I Glass from $23.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. Wells Fargo & Company raised their price target on shares of O-I Glass from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, February 2nd. Finally, Royal Bank of Canada raised shares of O-I Glass from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $20.00 to $34.00 in a report on Thursday, February 2nd. Two equities research 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. According to MarketBeat.com, O-I Glass currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.
O-I Glass Stock Performance
Shares of OI opened at $22.71 on Thursday. The firm’s 50 day moving average is $20.37 and its 200-day moving average is $17.03. The stock has a market capitalization of $3.51 billion, a P/E ratio of 6.14, a P/E/G ratio of 1.27 and a beta of 1.36. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.10 and a quick ratio of 0.74. O-I Glass has a 12-month low of $11.53 and a 12-month high of $23.52.
O-I Glass (NYSE:OI – Get Rating) last announced its quarterly earnings data on Tuesday, January 31st. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.06. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.59 billion. O-I Glass had a net margin of 8.52% and a return on equity of 27.42%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. Equities research analysts anticipate that O-I Glass will post 2.5 EPS for the current fiscal year.
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.
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