11,190 Shares in Corning Incorporated (NYSE:GLW) Bought by Sapient Capital LLC

Sapient Capital LLC bought a new stake in Corning Incorporated (NYSE:GLW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,190 shares of the electronics maker’s stock, valued at approximately $341,000.

Several other institutional investors and hedge funds have also bought and sold shares of GLW. Peoples Bank KS bought a new position in shares of Corning in the 3rd quarter worth approximately $25,000. OFI Invest Asset Management bought a new position in Corning in the third quarter worth approximately $25,000. Janiczek Wealth Management LLC grew its position in shares of Corning by 173.6% during the 3rd quarter. Janiczek Wealth Management LLC now owns 900 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 571 shares during the period. SRS Capital Advisors Inc. increased its stake in shares of Corning by 232.9% in the 3rd quarter. SRS Capital Advisors Inc. now owns 932 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 652 shares in the last quarter. Finally, Bruce G. Allen Investments LLC bought a new position in Corning in the 4th quarter worth $31,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on GLW shares. Barclays upped their price target on Corning from $28.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Susquehanna restated a “positive” rating and set a $40.00 target price on shares of Corning in a research note on Monday, April 1st. JPMorgan Chase & Co. upped their price target on shares of Corning from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday. HSBC cut shares of Corning from a “hold” rating to a “reduce” rating and set a $29.00 price objective for the company. in a research note on Thursday, February 1st. Finally, UBS Group lifted their target price on shares of Corning from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $34.56.

Corning Stock Down 2.4 %

Corning stock opened at $31.49 on Monday. The firm has a market cap of $26.93 billion, a P/E ratio of 47.00, a P/E/G ratio of 1.79 and a beta of 1.08. The company has a quick ratio of 1.05, 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 business has a fifty day moving average of $32.40 and a two-hundred day moving average of $30.37.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, January 30th. The electronics maker reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. Corning had a net margin of 4.62% and a return on equity of 12.31%. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period last year, the business earned $0.47 EPS. The company’s revenue was down 12.1% compared to the same quarter last year. On average, analysts forecast that Corning Incorporated will post 1.86 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.12 annualized dividend and a dividend yield of 3.56%. Corning’s dividend payout ratio is presently 167.16%.

Insider Transactions at Corning

In related news, Vice Chairman Lawrence D. Mcrae sold 77,464 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $33.24, for a total transaction of $2,574,903.36. Following the transaction, the insider now directly owns 215,254 shares of the company’s stock, valued at approximately $7,155,042.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.45% of the company’s stock.

About Corning

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.