Corning Incorporated (NYSE:GLW) Shares Bought by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its stake in shares of Corning Incorporated (NYSE:GLWFree Report) by 32.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 10,864 shares of the electronics maker’s stock after acquiring an additional 2,682 shares during the period. NEOS Investment Management LLC’s holdings in Corning were worth $331,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Natixis Advisors L.P. raised its position in shares of Corning by 5.9% in the third 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 during the last quarter. KMG Fiduciary Partners LLC acquired a new stake in shares of Corning in the fourth quarter valued at about $1,199,000. Socha Financial Group LLC raised its position in shares of Corning by 8.8% in the fourth quarter. Socha Financial Group LLC now owns 343,624 shares of the electronics maker’s stock valued at $10,463,000 after buying an additional 27,772 shares during the last quarter. HB Wealth Management LLC raised its position in shares of Corning by 24.2% in the fourth quarter. HB Wealth Management LLC now owns 9,871 shares of the electronics maker’s stock valued at $301,000 after buying an additional 1,926 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Corning by 59.8% in the fourth quarter. SG Americas Securities LLC now owns 108,358 shares of the electronics maker’s stock valued at $3,300,000 after buying an additional 40,564 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Corning

In other news, SVP John Z. Zhang sold 12,546 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $33.42, for a total transaction of $419,287.32. Following the completion of the sale, the senior vice president now owns 11,355 shares in the company, valued at approximately $379,484.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP John Z. Zhang sold 12,546 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $33.42, for a total transaction of $419,287.32. Following the completion of the sale, the senior vice president now owns 11,355 shares in the company, valued at approximately $379,484.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Martin J. Curran sold 16,416 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $33.70, for a total transaction of $553,219.20. Following the sale, the vice president now owns 65,598 shares of the company’s stock, valued at approximately $2,210,652.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 239,841 shares of company stock worth $7,971,257. 0.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Corning from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Susquehanna reissued a “positive” rating and issued a $40.00 price objective on shares of Corning in a report on Monday, April 1st. JPMorgan Chase & Co. raised shares of Corning from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $37.00 to $43.00 in a report on Thursday, May 30th. Mizuho began coverage on shares of Corning in a report on Tuesday, May 7th. They issued a “neutral” rating and a $36.00 price objective for the company. Finally, Morgan Stanley reissued an “overweight” rating and issued a $35.00 price objective on shares of Corning in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $35.90.

Read Our Latest Stock Analysis on Corning

Corning Stock Up 1.3 %

Shares of NYSE:GLW opened at $37.49 on Thursday. 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 fifty-two week low of $25.26 and a fifty-two week high of $37.52. The firm’s 50 day moving average price is $33.73 and its 200 day moving average price is $31.94. The stock has a market cap of $32.11 billion, a price-to-earnings ratio of 52.80, a price-to-earnings-growth ratio of 1.68 and a beta of 1.08.

Corning (NYSE:GLWGet Free Report) last issued 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. The business had revenue of $2.98 billion during 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 company’s revenue was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. As a group, equities research analysts predict that Corning Incorporated will post 1.9 earnings per share for the current fiscal 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 given a dividend of $0.28 per share. The ex-dividend date is Friday, May 31st. This represents a $1.12 annualized dividend and a dividend yield of 2.99%. Corning’s dividend payout ratio is presently 157.75%.

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.

See Also

Institutional Ownership by Quarter for Corning (NYSE:GLW)

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