Owens-Illinois Target of Unusually Large Options Trading (OI)

Owens-Illinois Inc (NYSE:OI) was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 1,665 put options on the company. This represents an increase of 1,836% compared to the average daily volume of 86 put options.

Owens-Illinois stock opened at $15.67 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.21 and a debt-to-equity ratio of 5.98. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 5.91, a price-to-earnings-growth ratio of 0.93 and a beta of 1.40. Owens-Illinois has a twelve month low of $15.67 and a twelve month high of $24.66.

Owens-Illinois (NYSE:OI) last posted its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.78 billion. Owens-Illinois had a net margin of 1.94% and a return on equity of 44.21%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 earnings per share. On average, equities analysts anticipate that Owens-Illinois will post 2.74 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. US Bancorp DE lifted its stake in Owens-Illinois by 77.6% in the third quarter. US Bancorp DE now owns 8,146 shares of the industrial products company’s stock worth $153,000 after purchasing an additional 3,558 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in Owens-Illinois by 2.7% in the second quarter. Mutual of America Capital Management LLC now owns 138,969 shares of the industrial products company’s stock worth $2,336,000 after purchasing an additional 3,718 shares during the last quarter. Sei Investments Co. lifted its stake in Owens-Illinois by 56.3% in the first quarter. Sei Investments Co. now owns 11,665 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 4,200 shares during the last quarter. LPL Financial LLC lifted its stake in Owens-Illinois by 11.2% in the first quarter. LPL Financial LLC now owns 44,651 shares of the industrial products company’s stock worth $966,000 after purchasing an additional 4,481 shares during the last quarter. Finally, Voya Investment Management LLC lifted its stake in Owens-Illinois by 8.2% in the second quarter. Voya Investment Management LLC now owns 59,970 shares of the industrial products company’s stock worth $1,008,000 after purchasing an additional 4,548 shares during the last quarter. 92.84% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently issued reports on OI. Zacks Investment Research downgraded shares of Owens-Illinois from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Robert W. Baird dropped their price objective on shares of Owens-Illinois from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, July 25th. Bank of America set a $22.00 price objective on shares of Owens-Illinois and gave the stock a “hold” rating in a report on Wednesday, July 25th. Finally, Citigroup dropped their price objective on shares of Owens-Illinois from $29.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, July 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $23.66.

About Owens-Illinois

Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Europe, North America, Latin America, and the Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.

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