Curat Global LLC Invests $636,000 in Corning Incorporated (NYSE:GLW)

Curat Global LLC acquired a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,900 shares of the electronics maker's stock, valued at approximately $636,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sierra Ocean LLC acquired a new position in Corning during the fourth quarter worth $25,000. Asset Planning Inc acquired a new position in shares of Corning in the fourth quarter worth $29,000. Vermillion Wealth Management Inc. acquired a new position in shares of Corning in the fourth quarter worth $29,000. Putney Financial Group LLC acquired a new position in shares of Corning in the fourth quarter worth $30,000. Finally, Mainstream Capital Management LLC acquired a new position in shares of Corning in the fourth quarter worth $35,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Corning

In other Corning news, SVP Stefan Becker sold 17,106 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $49.68, for a total transaction of $849,826.08. Following the completion of the sale, the senior vice president now owns 16,117 shares of the company's stock, valued at approximately $800,692.56. The trade was a 51.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Soumya Seetharam sold 6,505 shares of the company's stock in a transaction dated 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 sale, the senior vice president now directly owns 25,000 shares of the company's stock, valued at $1,250,250. The trade was a 20.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,796 shares of company stock valued at $3,632,635. Company insiders own 0.40% of the company's stock.

Corning Trading Down 0.2%

GLW stock traded down $0.12 during trading on Friday, reaching $50.74. 3,638,968 shares of the stock traded hands, compared to its average volume of 5,979,448. The business's 50 day moving average price is $45.28 and its 200-day moving average price is $47.68. Corning Incorporated has a 52-week low of $36.58 and a 52-week high of $55.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07. The firm has a market capitalization of $43.46 billion, a PE ratio of 87.48, a P/E/G ratio of 1.50 and a beta of 1.11.

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

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Friday, May 30th. Corning's dividend payout ratio (DPR) is presently 215.38%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Oppenheimer cut their price target on Corning from $58.00 to $55.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Mizuho set a $52.00 price target on Corning in a report on Tuesday, April 15th. Citigroup cut their price target on Corning from $58.00 to $50.00 and set a "buy" rating for the company in a report on Monday, April 14th. Wall Street Zen cut Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, Bank of America boosted their price target on Corning from $65.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $53.08.

Corning 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.