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).
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