Jim Cramer Offers His Take On Corning, Calls This Healthcare Stock A 'Terrific Spec' - Corning (NYSE:GLW)
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Avantax Advisory Services Inc. Acquires 11,449 Shares of Corning Incorporated (NYSE:GLW)
Avantax Advisory Services Inc. grew its stake in shares of Corning Incorporated (NYSE:GLW – Free Report) by 63.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 29,442 shares of the electronics maker’s stock after acquiring an additional 11,449 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Corning were worth $897,000 as of its most recent SEC filing. Other large investors also recently modified their holdings of the company. Natixis Advisors L.P. raised its position in shares of Corning by 5.9% in the 3rd quarter. Natixis Advisors L.P. now owns 101,322 shares of the electronics maker’s stock valued at $3,087,000 after buying an additional 5,616 shares in the last quarter. KMG Fiduciary Partners LLC bought a new stake in Corning during the fourth quarter worth $1,199,000. Socha Financial Group LLC boosted its holdings in shares of Corning by 8.8% in the 4th quarter. Socha Financial Group LLC now owns 343,624 shares of the electronics maker’s stock valued at $10,463,000 after purchasing an additional 27,772 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of Corning by 24.2% in the 4th quarter. HB Wealth Management LLC now owns 9,871 shares of the electronics maker’s stock valued at $301,000 after purchasing an additional 1,926 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Corning by 59.8% during the 4th quarter. SG Americas Securities LLC now owns 108,358 shares of the electronics maker’s stock worth $3,300,000 after buying an additional 40,564 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds. Insider Activity at Corning In other Corning news, VP Martin J. Curran sold 16,416 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $33.70, for a total value of $553,219.20. Following the completion of the sale, the vice president now directly owns 65,598 shares in the company, valued at $2,210,652.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Martin J. Curran sold 16,416 shares of Corning stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $33.70, for a total transaction of $553,219.20. Following the completion of the transaction, the vice president now directly owns 65,598 shares in the company, valued at $2,210,652.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lewis A. Steverson sold 29,978 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $33.05, for a total transaction of $990,772.90. Following the completion of the sale, the executive vice president now owns 31,294 shares in the company, valued at approximately $1,034,266.70. The disclosure for this sale can be found here. Insiders have sold 239,841 shares of company stock worth $7,971,257 in the last quarter. Company insiders own 0.45% of the company’s stock. Corning Price Performance Shares of NYSE GLW opened at $35.35 on Monday. The company has a market capitalization of $30.28 billion, a PE ratio of 49.79, a P/E/G ratio of 1.70 and a beta of 1.07. The company has a quick ratio of 1.02, a current ratio of 1.67 and a debt-to-equity ratio of 0.61. Corning Incorporated has a twelve month low of $25.26 and a twelve month high of $36.01. The firm has a fifty day simple moving average of $32.73 and a 200 day simple moving average of $31.18. Corning (NYSE:GLW – Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The electronics maker reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Corning had a return on equity of 12.31% and a net margin of 4.96%. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period last year, the company posted $0.41 EPS. The business’s quarterly revenue was down 11.5% on a year-over-year basis. On average, sell-side analysts forecast that Corning Incorporated will post 1.9 EPS for the current year. Corning Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, May 31st will be paid a $0.28 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.12 annualized dividend and a dividend yield of 3.17%. Corning’s dividend payout ratio is currently 157.75%. Wall Street Analyst Weigh In A number of research analysts have issued reports on GLW shares. UBS Group lifted their target price on Corning from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Susquehanna restated a “positive” rating and set a $40.00 price objective on shares of Corning in a research report on Monday, April 1st. Barclays upped their price objective on Corning from $28.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Morgan Stanley reiterated an “overweight” rating and set a $35.00 target price on shares of Corning in a research report on Monday, April 22nd. Finally, Mizuho initiated coverage on shares of Corning in a report on Tuesday, May 7th. They set a “neutral” rating and a $36.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Corning has a consensus rating of “Hold” and an average target price of $35.00. Check Out Our Latest Stock Analysis on Corning About Corning (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. See Also Five stocks we like better than Corning Why Special Dividends Can be a Delightful Surprise for Income Investors Magnificent 7 Still Magnificent as the Halfway Mark Approaches? Why is the Ex-Dividend Date Significant to Investors? 3 Vital Copper Stocks Helping EVs and AI Data Centers Take Off Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance Warren Buffett’s Mystery Stock Was Just Revealed 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 – Free Report).
