Stock traders buy high volume in OI glass call options (NYSE: OI)

OI Glass, Inc. (NYSE: OI – Get Rating) was the recipient of some unusual options trading activity on Wednesday. Investors bought 2,354 call options on the stock. This is a 3,039% increase from the average daily volume of 75 call options.

A number of hedge funds and other institutional investors have recently shifted their OI holdings. Marshall Wace North America LP acquired a new position in OI Glass during the first quarter worth approximately $25,000. Moors & Cabot Inc. acquired a new position in OI Glass during the third quarter valued at approximately $38,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in OI Glass by 24.3% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,200 shares of the industrial products company valued at $60,000 after purchasing an additional 822 shares during the period. Simon Quick Advisors LLC increased its stake in OI Glass by 28.6% during the third quarter. Simon Quick Advisors LLC now owns 4,500 shares of the industrial products company valued at $64,000 after purchasing an additional 1,000 shares during the period. Finally, Eagle Bay Advisors LLC increased its stake in OI Glass by 100.0% during the third quarter. Eagle Bay Advisors LLC now owns 6,800 shares of the industrial products company valued at $98,000 after purchasing an additional 3,400 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s shares.

NYSE:OI shares opened at $12.66 on Thursday. OI Glass has a 1-year low of $10.64 and a 1-year high of $19.46. The company has a 50-day moving average of $13.02 and a 200-day moving average of $13.45. The company has a debt ratio of 8.51, a current ratio of 1.41 and a quick ratio of 0.94. The stock has a market capitalization of $1.97 billion, a price/earnings ratio of 27.52, a P/E/G ratio of 0.38 and a beta of 1.73.

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OI Glass (NYSE:OI – Get Rating) last released its quarterly results on Monday, January 31. The industrial products company reported EPS of $0.36 for the quarter, beating the consensus estimate of $0.33 by $0.03. The company posted revenue of $1.59 billion in the quarter, compared to $1.52 billion expected by analysts. OI Glass had a net margin of 1.23% and a return on equity of 69.39%. OI Glass revenue increased 6.1% year-over-year. In the same quarter of the previous year, the company achieved EPS of $0.40. Equity research analysts expect OI Glass to post 1.8 earnings per share for the current year.

Several equity research analysts have weighed in on OI shares. KeyCorp lowered its price target on OI Glass shares from $13.00 to $12.00 and set an “underweight” rating for the company in a Wednesday, Oct. 27 research report. Wells Fargo & Company upgraded OI Glass shares from an “underweight” to an “equal weight” rating in a Wednesday, January 12 research report. Citigroup lowered its price target on OI Glass shares from $14.00 to $13.00 in a Tuesday, January 4, research report. Credit Suisse Group began covering OI Glass shares in a research report on Friday, January 28. They issued an “outperform” rating and a price target of $18.00 for the company. Finally, Royal Bank of Canada lowered its price target on OI Glass shares from $16.00 to $15.00 and set an “industry performance” rating for the company in a research report Thursday, October 28. One equity research analyst rated the stock with a sell rating, six issued a hold rating and four assigned the company’s stock a buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $16.00.

OI Glass Company Profile (Get a rating)

OI Glass, Inc. is engaged in manufacturing glass products. It offers products to the food and beverage sectors. The Company operates through the following geographic segments: Americas, Europe and Asia-Pacific. The company was founded in 1929 and is based in Perrysburg, OH.

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