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

O-I Glass, Inc. (NYSE:OI) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 2,354 call options on the company. This is an increase of approximately 3,039% compared to the typical daily volume of 75 call options.

O-I Glass Stock Down 1.2%

OI stock opened at $8.88 on Friday. The firm has a 50 day simple moving average of $10.37 and a 200 day simple moving average of $12.96. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.26 and a quick ratio of 0.73. O-I Glass has a 12 month low of $8.00 and a 12 month high of $16.91. The firm has a market cap of $1.36 billion, a PE ratio of -7.27, a P/E/G ratio of 1.03 and a beta of 0.65.

O-I Glass (NYSE:OI) last posted its quarterly 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 company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The company’s revenue 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 research analysts forecast that O-I Glass will post 1.2 earnings per share for the current fiscal year.

More O-I Glass News

Here are the key news stories impacting O-I Glass this week:

• Negative Sentiment: Zacks Research lowered its EPS forecasts across several future quarters for O-I Glass, signaling weaker expected earnings growth and adding to bearish pressure on the stock.
• Negative Sentiment: The firm maintained a “Strong Sell” rating, which may further discourage buyers and keep the shares under selling pressure. O-I Glass stock page
• Positive Sentiment: Recent unusual options activity showed heavy call buying in OI, which can sometimes signal speculative optimism or a possible rebound trade.
• Positive Sentiment: Insider buying by SVP Darrow Abrahams may be viewed as a vote of confidence in the company’s long-term value.
• Neutral Sentiment: O-I Glass recently beat revenue estimates in its latest quarter, though EPS came in below expectations, leaving the market with mixed fundamental signals.

Wall Street Analysts Forecast Growth

OI has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of O-I Glass in a research report on Tuesday, April 21st. 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. Wells Fargo & Company downgraded shares of O-I Glass from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $18.00 to $13.00 in a report on Friday, March 20th. Royal Bank Of Canada set a $14.00 price objective on O-I Glass in a research report on Friday, April 17th. Finally, Wall Street Zen cut O-I Glass from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.50.

Insider Activity at O-I Glass

In other news, SVP Darrow A. Abrahams acquired 2,774 shares of the business’s stock in a transaction on Monday, May 11th. The stock was bought at an average cost of $9.04 per share, for a total transaction of $25,076.96. Following the purchase, the senior vice president owned 235,928 shares in the company, valued at approximately $2,132,789.12. This represents a 1.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Randolph L. Burns acquired 11,000 shares of O-I Glass stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average price of $9.32 per share, for a total transaction of $102,520.00. Following the transaction, the senior vice president owned 133,932 shares of the company’s stock, valued at $1,248,246.24. This represents a 8.95% increase in their position. The SEC filing for this purchase provides additional information. 1.00% of the stock is currently owned by insiders.

Institutional Trading of O-I Glass

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of O-I Glass by 3.7% in the third quarter. Vanguard Group Inc. now owns 19,349,218 shares of the industrial products company’s stock valued at $250,959,000 after buying an additional 691,989 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in O-I Glass by 8.6% during the first quarter. Dimensional Fund Advisors LP now owns 9,238,635 shares of the industrial products company’s stock valued at $97,094,000 after purchasing an additional 729,191 shares during the last quarter. Alliancebernstein L.P. increased its stake in O-I Glass by 0.7% in the 3rd quarter. Alliancebernstein L.P. now owns 7,996,786 shares of the industrial products company’s stock worth $103,718,000 after acquiring an additional 56,945 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in O-I Glass by 32.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,246,337 shares of the industrial products company’s stock worth $44,629,000 after purchasing an additional 1,030,705 shares during the period. Finally, Geode Capital Management LLC raised its stake in O-I Glass by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 3,783,387 shares of the industrial products company’s stock worth $55,852,000 after buying an additional 22,430 shares in the last quarter. Institutional investors and hedge funds 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.