Corning Incorporated (NYSE:GLW) Shares Bought by Kwmg LLC

Kwmg LLC boosted its holdings in shares of Corning Incorporated (NYSE:GLW) by 4.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 145,514 shares of the electronics maker’s stock after acquiring an additional 5,543 shares during the quarter. Kwmg LLC’s holdings in Corning were worth $4,796,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GLW. Cape Investment Advisory Inc. raised its stake in Corning by 800.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 900 shares of the electronics maker’s stock valued at $27,000 after buying an additional 800 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Corning by 232.9% during the 3rd quarter. SRS Capital Advisors Inc. now owns 932 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 652 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Corning in the 4th quarter valued at approximately $31,000. EverSource Wealth Advisors LLC lifted its stake in Corning by 347.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,060 shares of the electronics maker’s stock valued at $32,000 after buying an additional 823 shares in the last quarter. Finally, Riverview Trust Co purchased a new stake in Corning in the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insiders Place Their Bets

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 sale, the vice president now directly owns 65,598 shares in the company, valued at approximately $2,210,652.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Corning news, VP Martin J. Curran sold 16,416 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $33.70, for a total value of $553,219.20. Following the transaction, the vice president now directly owns 65,598 shares in the company, valued at $2,210,652.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Lewis A. Steverson sold 29,978 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $33.05, for a total transaction of $990,772.90. Following the completion of the transaction, the executive vice president now owns 31,294 shares in the company, valued at $1,034,266.70. The disclosure for this sale can be found here. Insiders have sold 175,207 shares of company stock worth $5,876,067 in the last ninety days. Insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on GLW shares. Mizuho boosted their price target on Corning from $36.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, June 18th. StockNews.com raised shares of Corning from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Fox Advisors raised shares of Corning from an “equal weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a research report on Monday, June 17th. JPMorgan Chase & Co. raised shares of Corning from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $37.00 to $43.00 in a research report on Thursday, May 30th. Finally, Susquehanna reiterated a “positive” rating and set a $40.00 price objective on shares of Corning in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $38.67.

Corning Stock Performance

GLW traded down $1.69 during trading on Wednesday, hitting $38.08. The stock had a trading volume of 11,951,634 shares, compared to its average volume of 5,333,386. The firm has a market cap of $32.62 billion, a PE ratio of 55.38, a P/E/G ratio of 1.81 and a beta of 1.08. Corning Incorporated has a 12 month low of $25.26 and a 12 month high of $40.46. The company has a current ratio of 1.67, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61. The company has a 50 day simple moving average of $35.52 and a 200-day simple moving average of $32.97.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 30th. The electronics maker reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $3.12 billion. Corning had a net margin of 4.96% and a return on equity of 12.31%. The business’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. Analysts expect that Corning Incorporated will post 1.9 EPS for the current year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, May 31st will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.12 annualized dividend and a yield of 2.94%. Corning’s dividend payout ratio is 157.75%.

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.