apricus wealth LLC Invests $275,000 in Corning Incorporated (NYSE:GLW)

apricus wealth LLC purchased a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,007 shares of the electronics maker's stock, valued at approximately $275,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tallon Kerry Patrick bought a new stake in shares of Corning during the 4th quarter valued at $302,000. Van ECK Associates Corp boosted its stake in shares of Corning by 343.6% during the 4th quarter. Van ECK Associates Corp now owns 114,330 shares of the electronics maker's stock worth $5,433,000 after purchasing an additional 88,558 shares during the period. LMR Partners LLP boosted its stake in shares of Corning by 140.1% during the 4th quarter. LMR Partners LLP now owns 1,200,442 shares of the electronics maker's stock worth $57,045,000 after purchasing an additional 700,442 shares during the period. Assetmark Inc. boosted its stake in shares of Corning by 101.5% during the 4th quarter. Assetmark Inc. now owns 1,076 shares of the electronics maker's stock worth $51,000 after purchasing an additional 542 shares during the period. Finally, Gotham Asset Management LLC purchased a new position in shares of Corning during the 4th quarter worth about $306,000. 69.80% of the stock is currently owned by institutional investors.

Corning Stock Down 2.5%

Shares of GLW traded down $1.28 during mid-day trading on Friday, hitting $49.54. The company's stock had a trading volume of 3,573,448 shares, compared to its average volume of 5,917,446. The company has a current ratio of 1.62, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $42.43 billion, a price-to-earnings ratio of 85.42, a PEG ratio of 1.50 and a beta of 1.11. The company's 50-day moving average is $46.19 and its 200-day moving average is $47.76. Corning Incorporated has a 52-week low of $37.18 and a 52-week high of $55.33.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The electronics maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.63 billion. Corning had a net margin of 3.86% and a return on equity of 15.10%. Corning's revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 EPS. On average, equities research analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, May 30th. This represents a $1.12 annualized dividend and a dividend yield of 2.26%. Corning's dividend payout ratio (DPR) is presently 215.38%.

Insider Buying and Selling

In other Corning news, SVP Michael Alan Bell sold 20,262 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $44.06, for a total transaction of $892,743.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John Z. Zhang sold 8,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $46.91, for a total transaction of $375,280.00. Following the transaction, the vice president now owns 9,610 shares in the company, valued at $450,805.10. The trade was a 45.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,796 shares of company stock worth $3,632,635 in the last 90 days. 0.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GLW. JPMorgan Chase & Co. dropped their price objective on Corning from $62.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Bank of America increased their price target on Corning from $65.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, March 19th. Wall Street Zen downgraded Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Oppenheimer decreased their price objective on Corning from $58.00 to $55.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Mizuho set a $52.00 price objective on Corning in a report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $53.08.

Corning Company Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.