2,860 Shares in Corning Incorporated (GLW) Purchased by Capital Investment Advisory Services LLC

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Capital Investment Advisory Services LLC acquired a new stake in Corning Incorporated (NYSE:GLW) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,860 shares of the electronics maker’s stock, valued at approximately $86,000.

Other institutional investors have also bought and sold shares of the company. Anchor Capital Advisors LLC boosted its stake in shares of Corning by 4.4% in the fourth quarter. Anchor Capital Advisors LLC now owns 42,512 shares of the electronics maker’s stock worth $1,284,000 after acquiring an additional 1,792 shares during the last quarter. Parkside Investments LLC boosted its stake in shares of Corning by 36.8% in the fourth quarter. Parkside Investments LLC now owns 119,764 shares of the electronics maker’s stock worth $3,618,000 after acquiring an additional 32,219 shares during the last quarter. Cambridge Trust Co. acquired a new stake in shares of Corning in the fourth quarter worth approximately $203,000. Howe & Rusling Inc. boosted its stake in shares of Corning by 5.7% in the fourth quarter. Howe & Rusling Inc. now owns 6,769 shares of the electronics maker’s stock worth $204,000 after acquiring an additional 366 shares during the last quarter. Finally, Financial Gravity Companies Inc. acquired a new stake in shares of Corning in the fourth quarter worth approximately $74,000. Institutional investors and hedge funds own 71.51% of the company’s stock.

In other Corning news, SVP Lewis A. Steverson sold 12,577 shares of the business’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $31.47, for a total transaction of $395,798.19. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Lawrence D. Mcrae sold 20,000 shares of the business’s stock in a transaction on Wednesday, December 19th. The stock was sold at an average price of $30.68, for a total value of $613,600.00. Following the transaction, the insider now directly owns 150,716 shares in the company, valued at approximately $4,623,966.88. The disclosure for this sale can be found here. Insiders have sold 103,009 shares of company stock worth $3,330,247 in the last three months. 0.46% of the stock is currently owned by corporate insiders.

A number of analysts have recently issued reports on GLW shares. Zacks Investment Research raised Corning from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Monday, October 22nd. Guggenheim reaffirmed a “buy” rating and issued a $41.00 price target on shares of Corning in a research note on Tuesday, October 23rd. UBS Group set a $33.00 price target on Corning and gave the stock a “hold” rating in a research note on Tuesday, October 23rd. Citigroup lowered their price target on Corning from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, October 24th. Finally, ValuEngine lowered Corning from a “buy” rating to a “hold” rating in a research note on Monday, November 12th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $35.50.

NYSE GLW opened at $34.04 on Thursday. The firm has a market cap of $26.70 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 1.90 and a beta of 1.21. The company has a current ratio of 2.12, a quick ratio of 1.51 and a debt-to-equity ratio of 0.52. Corning Incorporated has a fifty-two week low of $26.11 and a fifty-two week high of $36.56.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, January 29th. The electronics maker reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.02 billion. Corning had a return on equity of 14.21% and a net margin of 9.44%. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 earnings per share. Equities analysts anticipate that Corning Incorporated will post 2 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, February 28th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, February 27th. This represents a $0.80 dividend on an annualized basis and a yield of 2.35%. This is a positive change from Corning’s previous quarterly dividend of $0.18. Corning’s payout ratio is 40.45%.

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Corning Profile

Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials in North America, the Asia Pacific, Europe, and internationally. The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences.

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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