In today’s session Owens-Illinois Inc (OI) registered an unusually high (1,000) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious OI increase. With 1,000 contracts traded and 26904 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: OI161118C00019000 closed last at: $0.35 or 12.5% down. About 355,004 shares traded hands. Owens-Illinois Inc (NYSE:OI) has risen 7.38% since April 13, 2016 and is uptrending. It has outperformed by 3.46% the S&P500.
Owens-Illinois Inc (NYSE:OI) Ratings Coverage
Out of 11 analysts covering Owens-Illinois Inc (NYSE:OI), 4 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 36% are positive. $42 is the highest target while $15 is the lowest. The $21.20 average target is 12.17% above today’s ($18.9) stock price. Owens-Illinois Inc has been the topic of 17 analyst reports since July 31, 2015 according to StockzIntelligence Inc. On Thursday, July 14 the stock rating was maintained by Jefferies with “Hold”. As per Wednesday, April 6, the company rating was upgraded by Citigroup. Bank of America upgraded Owens-Illinois Inc (NYSE:OI) on Tuesday, September 15 to “Buy” rating. The rating was maintained by Credit Suisse on Wednesday, March 2 with “Outperform”. As per Friday, July 31, the company rating was downgraded by TheStreet. RBC Capital Markets initiated the shares of OI in a report on Friday, September 30 with “Sector Perform” rating. As per Monday, October 19, the company rating was reinitiated by Deutsche Bank. On Tuesday, November 10 the stock rating was initiated by Macquarie Research with “Neutral”. The firm has “Sell” rating given on Thursday, May 12 by Goldman Sachs. Credit Suisse maintained the stock with “Neutral” rating in Friday, October 30 report.
According to Zacks Investment Research, “Owens-Illinois, Inc. manufactures and sells glass container products to food and beverage manufacturers primarily in Europe, North America, South America, and the Asia Pacific. The Company produces glass containers for malt beverages, including beer and ready-to-drink low-alcohol refreshers, liquor, wine, food, tea, juice and pharmaceuticals. It also produces glass containers for soft drinks and other non-alcoholic beverages. Owens-Illinois, Inc. is headquartered in Perrysburg, Ohio.”
Insitutional Activity: The institutional sentiment decreased to 1.28 in 2016 Q2. Its down 0.06, from 1.34 in 2016Q1. The ratio is negative, as 34 funds sold all Owens-Illinois Inc shares owned while 84 reduced positions. 57 funds bought stakes while 94 increased positions. They now own 134.99 million shares or 4.92% less from 141.97 million shares in 2016Q1.
Panagora Asset owns 119,028 shares or 0.01% of their US portfolio. Liberty Mutual Gp Asset Management last reported 0.01% of its portfolio in the stock. Cibc Asset Mngmt owns 14,865 shares or 0% of their US portfolio. Nuveen Asset Management Ltd Liability Corporation has 10,144 shares for 0% of their US portfolio. The Missouri-based Parkside Finance Bank & Trust has invested 0% in Owens-Illinois Inc (NYSE:OI). Allianz Asset Mngmt Ag last reported 0.01% of its portfolio in the stock. Moreover, Ladenburg Thalmann Finance Services has 0% invested in Owens-Illinois Inc (NYSE:OI) for 2,787 shares. Sei Investments has 2,150 shares for 0% of their US portfolio. Buckhead Cap Mgmt Ltd Liability Corp has 260,000 shares for 0.85% of their US portfolio. Harvey Prtnrs Ltd Co accumulated 2.07% or 115,000 shares. Cornerstone Management Hldg Limited Liability Co, a New York-based fund reported 34,463 shares. Manufacturers Life Ins Company The has invested 0% of its portfolio in Owens-Illinois Inc (NYSE:OI). Meridian Counsel last reported 0.67% of its portfolio in the stock. Spitfire Capital Limited Liability Com last reported 5.04% of its portfolio in the stock. Bernzott has 3.57% invested in the company for 1.01 million shares.
Insider Transactions: Since June 15, 2016, the stock had 1 buying transaction, and 0 selling transactions for $63,406 net activity. 3,400 shares with value of $63,406 were bought by Hardie Gordon on Wednesday, June 15.
Owens-Illinois, Inc. is engaged in the manufacturing of glass containers. The company has a market cap of $3.07 billion. The Company’s principal product lines are glass containers for the food and beverage industries. It has a 10.46 P/E ratio. The Company’s divisions include Europe, North America, Latin America and Asia Pacific.
OI Company Profile
Owens-Illinois, Inc., incorporated on March 10, 1987, is engaged in the manufacturing of glass containers. The Company’s principal product lines are glass containers for the food and beverage industries. The Firm operates in four divisions: Europe, North America, Latin America and Asia Pacific. The Firm produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine. The Firm also produces glass packaging for a range of food items, soft drinks, teas, juices and pharmaceuticals. The Firm makes glass containers in a range of sizes, shapes and colors and is engaged in product development and glass container innovation. The Firm also provides engineering support for its glass manufacturing activities through facilities located in the United States, Australia, Poland, Colombia and Peru.
Another recent and important Owens-Illinois Inc (NYSE:OI) news was published by Fool.com which published an article titled: “Why Owens-Illinois Inc.’s Shares Popped 14% Today” on October 26, 2016.
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