Autumn Glory Companions LLC trimmed its holdings in Corning Included (NYSE:GLW – Free Report) by 13.1% within the first quarter, in response to the corporate in its most up-to-date Type 13F submitting with the Securities and Trade Fee. The agency owned 23,600 shares of the electronics maker’s inventory after promoting 3,549 shares through the interval. Autumn Glory Companions LLC’s holdings in Corning had been price $833,000 as of its most up-to-date submitting with the Securities and Trade Fee.
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Different hedge funds additionally just lately modified their holdings of the corporate. Vanguard Group Inc. lifted its place in Corning by 0.7% within the 1st quarter. Vanguard Group Inc. now owns 92,746,889 shares of the electronics maker’s inventory valued at $3,423,287,000 after buying an extra 671,480 shares within the final quarter. Geode Capital Administration LLC grew its holdings in shares of Corning by 1.2% through the fourth quarter. Geode Capital Administration LLC now owns 15,502,178 shares of the electronics maker’s inventory price $494,370,000 after shopping for an extra 190,144 shares within the final quarter. Morgan Stanley grew its holdings in shares of Corning by 26.5% through the fourth quarter. Morgan Stanley now owns 13,734,071 shares of the electronics maker’s inventory price $438,666,000 after shopping for an extra 2,875,197 shares within the final quarter. Financial institution of New York Mellon Corp lifted its stake in Corning by 3.3% within the third quarter. Financial institution of New York Mellon Corp now owns 9,327,102 shares of the electronics maker’s inventory valued at $270,672,000 after buying an extra 299,852 shares within the final quarter. Lastly, Norges Financial institution purchased a brand new stake in Corning within the 4th quarter valued at roughly $241,456,000. Institutional traders and hedge funds personal 68.38% of the corporate’s inventory.
Insider Shopping for and Promoting at Corning
In different information, VP Michael Alan Bell offered 35,045 shares of the enterprise’s inventory in a transaction that occurred on Friday, June sixteenth. The inventory was offered at a median worth of $35.00, for a complete transaction of $1,226,575.00. The sale was disclosed in a authorized submitting with the Securities & Trade Fee, which is out there at this hyperlink. In different Corning information, EVP Lewis A. Steverson offered 21,833 shares of the inventory in a transaction on Friday, April twenty eighth. The inventory was offered at a median worth of $33.11, for a complete transaction of $722,890.63. Following the transaction, the manager vp now owns 37,496 shares within the firm, valued at roughly $1,241,492.56. The transaction was disclosed in a doc filed with the Securities & Trade Fee, which could be accessed by means of this hyperlink. Additionally, VP Michael Alan Bell offered 35,045 shares of Corning inventory in a transaction on Friday, June sixteenth. The inventory was offered at a median worth of $35.00, for a complete worth of $1,226,575.00. The disclosure for this sale could be discovered right here. Insiders have offered a complete of 161,334 shares of firm inventory valued at $5,294,350 within the final three months. 0.40% of the inventory is at the moment owned by firm insiders.
Corning Inventory Efficiency
GLW opened at $35.03 on Friday. The corporate has a fast ratio of 0.84, a present ratio of 1.44 and a debt-to-equity ratio of 0.55. Corning Included has a 12-month low of $28.98 and a 12-month excessive of $37.73. The enterprise has a 50 day transferring common of $32.91 and a 200-day transferring common of $33.85. The inventory has a market cap of $29.78 billion, a price-to-earnings ratio of 33.79, a PEG ratio of two.38 and a beta of 1.09.
Corning (NYSE:GLW – Get Free Report) final introduced its quarterly earnings outcomes on Tuesday, April twenty fifth. The electronics maker reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. Corning had a return on fairness of 13.99% and a internet margin of 6.66%. The enterprise had income of $3.37 billion through the quarter, in comparison with the consensus estimate of $3.35 billion. Throughout the identical quarter final yr, the agency posted $0.54 EPS. The corporate’s quarterly income was down 10.1% on a year-over-year foundation. On common, equities analysis analysts count on that Corning Included will publish 1.94 earnings per share for the present yr.
Corning Declares Dividend
The enterprise additionally just lately declared a quarterly dividend, which will likely be paid on Thursday, September twenty eighth. Traders of file on Thursday, August thirty first will likely be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, August thirtieth. This represents a $1.12 dividend on an annualized foundation and a yield of three.20%. Corning’s dividend payout ratio (DPR) is at the moment 105.66%.
Wall Road Analyst Weigh In
A number of equities analysts have just lately weighed in on the inventory. Deutsche Financial institution Aktiengesellschaft decreased their worth goal on shares of Corning from $38.00 to $37.00 in a analysis word on Wednesday, April twenty sixth. Barclays minimize their worth goal on shares of Corning from $35.00 to $33.00 in a analysis report on Wednesday, April twenty sixth. Morgan Stanley upgradedshares of Corning from an “equal weight” ranking to an “obese” ranking and elevated their worth goal for the inventory from $35.00 to $38.00 in a analysis word on Friday, June ninth. UBS Group downgraded Corning from a “purchase” ranking to a “impartial” ranking and lifted their goal worth for the corporate from $38.00 to $39.00 in a analysis report on Friday. Lastly, Citigroup raised Corning from a “impartial” ranking to a “purchase” ranking and elevated their worth goal for the corporate from $36.00 to $40.00 in a analysis report on Thursday, June fifteenth. 4 analysis analysts have rated the inventory with a maintain ranking and 7 have assigned a purchase ranking to the corporate’s inventory. Primarily based on knowledge from MarketBeat, the corporate has a consensus ranking of “Average Purchase” and a median goal worth of $38.67.
About Corning
Corning Included engages within the show applied sciences, optical communications, environmental applied sciences, specialty supplies, and life sciences companies worldwide. The corporate’s Show Applied sciences section presents glass substrates for flat panel shows, together with liquid crystal shows and natural light-emitting diodes which can be utilized in televisions, pocket book computer systems, desktop screens, tablets, and handheld gadgets.
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