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Principale » Old Mutual Global Investors UK Ltd. Trims Holdings in Corning Incorporated (GLW)

Old Mutual Global Investors UK Ltd. Trims Holdings in Corning Incorporated (GLW)

17 Septembre 2017

Utah Retirement Systems trimmed its position in Corning Incorporated (NYSE:GLW) by 4.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. Ingalls & Snyder Llc sold 13,400 shares as the company's stock rose 5.06% with the market. WESPAC Advisors LLC's holdings in Corning were worth $1,783,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 71.35% of the company's stock. Fool.com's news article titled: "Better Buy: Corning Incorporated vs. Cirrus Logic" with publication date: August 19, 2017 was also an interesting one. Vanguard Group Inc. lifted its holdings in Corning by 0.5% during the 1st quarter.

Altavista Wealth Management Inc decreased Corning Inc (GLW) stake by 95.89% reported in 2016Q4 SEC filing. Central Bank & Trust Co. increased its holdings in shares of Corning by 515.2% in the 1st quarter. The Altavista Wealth Management Inc holds 151,567 shares with $3.68 million value, down from 3.68M last quarter. Finally, Jefferies Group LLC boosted their target price on shares of Corning from $21.00 to $24.50 and gave the stock a "hold" rating in a research report on Wednesday, January 25th. Swiss National Bank now owns 3,370,512 shares of the electronics maker's stock worth $91,004,000 after buying an additional 446,200 shares in the last quarter. Moreover, Moon Capital Management Lp has 2.65% invested in the company for 82,770 shares. Nebraska-based Cls Llc has invested 0% in Corning Incorporated (NYSE:GLW). If you are accessing this story on another site, it was stolen and reposted in violation of U.S. & worldwide trademark and copyright law.

Corning Incorporated (NYSE GLW) opened at 29.35 on Friday. Ingalls & Snyder Llc who had been investing in Corning Inc for a number of months, seems to be less bullish one the $26.37B market cap company. The stock has a 50-day moving average price of $25.51 and a 200 day moving average price of $23.86.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, January 24th. After $0.42 actual earnings per share reported by Corning Incorporated for the previous quarter, Wall Street now forecasts 0.00% EPS growth. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.54 billion.

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Corning Incorporated has a beta of 0.84, offering the possibility of a higher rate of return, but also posing more risk. The business's revenue for the quarter was up 6.2% compared to the same quarter previous year. The electronics maker reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. Equities research analysts anticipate that Corning Incorporated will post $1.70 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be issued a $0.155 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $0.62 annualized dividend and a dividend yield of 2.11%. Corning's dividend payout ratio is presently 27.93%.

In other news, Vice Chairman Lawrence D. Mcrae sold 48,125 shares of the firm's stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $28.56, for a total transaction of $942,480.00. Following the completion of the sale, the insider now directly owns 64,129 shares of the company's stock, valued at $1,712,244.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The data from the past twelve months tells a similar story: insiders executed 1 buys and 81 sells, and ownership decreased by a net of 2.51 million shares. Following the transaction, the insider now owns 136,079 shares in the company, valued at $3,893,220.19. The disclosure for this sale can be found here. $3.13M worth of Corning Incorporated (NYSE:GLW) shares were sold by Clappin James P.

Among 18 analysts covering Corning Incorporated (NYSE:GLW), 5 have Buy rating, 2 Sell and 11 Hold. Oppenheimer Holdings, Inc. reaffirmed a "hold" rating on shares of Corning in a research report on Thursday, July 27th. (The) cut shares of Corning from a "neutral" rating to a "sell" rating and decreased their price objective for the stock from $29.00 to $26.00 in a research report on Tuesday, August 15th. Zacks Investment Research raised shares of Corning from a "hold" rating to a "buy" rating and set a $27.00 price target on the stock in a research note on Tuesday, January 10th. Susquehanna Bancshares Inc reissued a "positive" rating on shares of Corning in a research report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that GLW is a hold, which implies that GLW is expected to perform in line with the market based on prior trading patterns. Lithia Motors Inc (LAD) has risen 16.88% since September 15, 2016 and is uptrending. The Display Technologies segment manufactures glass substrates for flat panel liquid crystal displays (LCDs).