Owens-Illinois Inc’s Stock Is Sell After Today’s Bearish Options Activity

 Owens Illinois Inc's Stock Is Sell After Today's Bearish Options Activity

In today’s session Owens-Illinois Inc (OI) recorded an unusually high (584) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious OI decrease. With 584 contracts traded and 1654 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: OI161216P00018000 closed last at: $0.45 or 0% . About 105,951 shares traded hands. Owens-Illinois Inc (NYSE:OI) has risen 1.04% since April 22, 2016 and is uptrending. It has underperformed by 4.37% the S&P500.

Analysts await Owens-Illinois Inc (NYSE:OI) to report earnings on February, 13. They expect $0.48 earnings per share, up 20.00% or $0.08 from last year’s $0.4 per share. OI’s profit will be $77.77 million for 9.55 P/E if the $0.48 EPS becomes a reality. After $0.68 actual earnings per share reported by Owens-Illinois Inc for the previous quarter, Wall Street now forecasts -29.41% negative EPS growth.

Owens-Illinois Inc (NYSE:OI) Ratings Coverage

Out of 11 analysts covering Owens-Illinois Inc (NYSE:OI), 3 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 27% are positive. Owens-Illinois Inc has been the topic of 18 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The company was maintained on Thursday, July 14 by Jefferies. TheStreet downgraded the stock to “Hold” rating in Friday, July 31 report. Credit Suisse maintained the shares of OI in a report on Friday, October 30 with “Neutral” rating. The stock of Owens-Illinois Inc (NYSE:OI) has “Buy” rating given on Wednesday, April 6 by Citigroup. The stock of Owens-Illinois Inc (NYSE:OI) has “Outperform” rating given on Wednesday, March 2 by Credit Suisse. As per Tuesday, November 10, the company rating was initiated by Macquarie Research. The firm earned “Buy” rating on Monday, October 19 by Deutsche Bank. The stock of Owens-Illinois Inc (NYSE:OI) earned “Buy” rating by Bank of America on Tuesday, September 15. The firm earned “Sell” rating on Thursday, May 12 by Goldman Sachs. The stock has “Hold” rating given by Deutsche Bank on Tuesday, November 22.

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 1.26 in Q2 2016. Its down 0.02, from 1.28 in 2016Q1. The ratio dropped, 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.
Stifel holds 0.01% of its portfolio in Owens-Illinois Inc (NYSE:OI) for 85,632 shares. Grt Prtnrs Ltd Liability Co holds 24,324 shares or 0.11% of its portfolio. Archford Strategies Ltd Llc last reported 19 shares in the company. First Manhattan holds 0% or 2,800 shares in its portfolio. Verition Fund Mngmt Ltd Liability Corp reported 48,697 shares or 0.11% of all its holdings. Tocqueville Asset Lp last reported 0% of its portfolio in the stock. Bernzott Advisors, a California-based fund reported 1.01M shares. Moreover, Denver Advisors Lc has 0.36% invested in Owens-Illinois Inc (NYSE:OI) for 442,751 shares. Legal And General Gru Plc accumulated 0% or 239,089 shares. Aperio Gru Ltd Liability Co last reported 58,077 shares in the company. Walleye Trading Limited Liability Com reported 3,704 shares or 0% of all its holdings. Jefferies Grp Lc has 0% invested in the company for 35,710 shares. Da Davidson & accumulated 0% or 2,356 shares. Moreover, Citadel Advisors Lc has 0.01% invested in Owens-Illinois Inc (NYSE:OI) for 394,072 shares. Washington Tru Bancorp has 0% invested in the company for 94 shares.

Insider Transactions: Since June 15, 2016, the stock had 1 insider purchase, and 0 selling transactions for $63,406 net activity. Hardie Gordon bought $63,406 worth of stock or 3,400 shares.

Owens-Illinois, Inc. is engaged in the manufacturing of glass containers. The company has a market cap of $2.97 billion. The Company’s principal product lines are glass containers for the food and beverage industries. It has a 10.14 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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