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.
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%.
ILLEGAL ACTIVITY WARNING: This story was originally reported by Week Herald and is owned by of Week Herald. If you are accessing this story on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark legislation. The original version of this story can be read at https://weekherald.com/2019/02/14/2860-shares-in-corning-incorporated-glw-purchased-by-capital-investment-advisory-services-llc.html.
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.
Featured Article: How To Calculate Debt-to-Equity Ratio
Want to see what other hedge funds are holding GLW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corning Incorporated (NYSE:GLW).
Receive News & Ratings for Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corning and related companies with MarketBeat.com's FREE daily email newsletter.