Free Trial

Corning Incorporated (NYSE:GLW) Stock Holdings Lifted by Secured Retirement Advisors LLC

Corning logo with Computer and Technology background

Secured Retirement Advisors LLC raised its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 62.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,836 shares of the electronics maker's stock after acquiring an additional 24,208 shares during the quarter. Corning makes up about 1.9% of Secured Retirement Advisors LLC's investment portfolio, making the stock its 8th biggest position. Secured Retirement Advisors LLC's holdings in Corning were worth $2,877,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vermillion Wealth Management Inc. purchased a new position in Corning in the 4th quarter worth approximately $29,000. Putney Financial Group LLC purchased a new position in shares of Corning in the fourth quarter worth $30,000. Transce3nd LLC bought a new position in shares of Corning during the fourth quarter worth $39,000. ORG Partners LLC grew its stake in Corning by 115.8% during the first quarter. ORG Partners LLC now owns 887 shares of the electronics maker's stock valued at $40,000 after acquiring an additional 476 shares in the last quarter. Finally, VSM Wealth Advisory LLC bought a new stake in Corning in the 4th quarter valued at $43,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Trading Down 1.3%

Shares of NYSE:GLW traded down $0.68 during trading hours on Friday, hitting $51.58. 4,098,107 shares of the company's stock traded hands, compared to its average volume of 5,355,824. The firm has a market capitalization of $44.17 billion, a P/E ratio of 99.19, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. The business has a fifty day moving average price of $49.87 and a 200-day moving average price of $48.26. Corning Incorporated has a 1 year low of $37.18 and a 1 year high of $55.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.69 and a quick ratio of 1.05.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The electronics maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Corning had a return on equity of 16.47% and a net margin of 3.34%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the prior year, the company posted $0.38 EPS. Corning's quarterly revenue was up 12.9% on a year-over-year basis. Equities analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.12 dividend on an annualized basis and a yield of 2.17%. Corning's payout ratio is 215.38%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on GLW shares. Morgan Stanley raised their price objective on Corning from $44.00 to $50.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Wolfe Research initiated coverage on Corning in a research note on Tuesday, July 8th. They issued an "outperform" rating on the stock. Oppenheimer lowered their target price on Corning from $58.00 to $55.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Bank of America raised their target price on shares of Corning from $65.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Corning from $62.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $55.73.

Get Our Latest Analysis on GLW

Insider Buying and Selling

In other news, VP John Z. Zhang sold 8,000 shares of the firm'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 directly owned 9,610 shares of the company's stock, valued at approximately $450,805.10. This trade represents a 45.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Soumya Seetharam sold 6,505 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $50.01, for a total value of $325,315.05. Following the completion of the transaction, the senior vice president directly owned 25,000 shares in the company, valued at approximately $1,250,250. This trade represents a 20.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,796 shares of company stock worth $3,632,635 over the last 90 days. Corporate insiders own 0.40% of the company's stock.

Corning Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Corning (NYSE:GLW)

Should You Invest $1,000 in Corning Right Now?

Before you consider Corning, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Corning wasn't on the list.

While Corning currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The Next 7 Blockbuster Stocks for Growth Investors Cover

Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Watch Before Monday: Stocks to Load Up on Before Earnings
3 Hot Growth Stocks to Watch Right Now!
Don’t Miss These Top 3 Defense Stocks Set To Gain

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines