GWN Securities Inc. Purchases Shares of 10,071 Corning Incorporated (NYSE:GLW)

GWN Securities Inc. purchased a new stake in shares of Corning Incorporated (NYSE:GLW) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,071 shares of the electronics maker’s stock, valued at approximately $479,000.

A number of other institutional investors and hedge funds have also bought and sold shares of GLW. GSA Capital Partners LLP grew its position in Corning by 2.6% during the third quarter. GSA Capital Partners LLP now owns 10,665 shares of the electronics maker’s stock valued at $482,000 after acquiring an additional 274 shares during the last quarter. KBC Group NV grew its holdings in shares of Corning by 19.6% in the third quarter. KBC Group NV now owns 124,820 shares of the electronics maker’s stock worth $5,635,000 after purchasing an additional 20,474 shares during the last quarter. Metis Global Partners LLC grew its holdings in shares of Corning by 1.9% in the third quarter. Metis Global Partners LLC now owns 25,164 shares of the electronics maker’s stock worth $1,136,000 after purchasing an additional 462 shares during the last quarter. OneDigital Investment Advisors LLC grew its holdings in shares of Corning by 13.2% in the third quarter. OneDigital Investment Advisors LLC now owns 27,496 shares of the electronics maker’s stock worth $1,241,000 after purchasing an additional 3,204 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Corning by 6.9% in the third quarter. CIBC Asset Management Inc now owns 134,900 shares of the electronics maker’s stock worth $6,091,000 after purchasing an additional 8,759 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Insider Transactions at Corning

In related news, SVP Michael Alan Bell sold 2,209 shares of Corning stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $49.87, for a total value of $110,162.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Eric S. Musser sold 30,000 shares of Corning stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $51.92, for a total value of $1,557,600.00. Following the completion of the sale, the chief operating officer now owns 152,944 shares of the company’s stock, valued at $7,940,852.48. The trade was a 16.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

Analyst Ratings Changes

GLW has been the topic of several recent analyst reports. Barclays cut their target price on shares of Corning from $53.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. HSBC upgraded shares of Corning from a “hold” rating to a “buy” rating and raised their target price for the stock from $51.00 to $60.00 in a report on Thursday, January 30th. Citigroup raised their price target on Corning from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Hsbc Global Res raised Corning from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 30th. Finally, StockNews.com lowered Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Corning Stock Performance

Shares of Corning stock opened at $46.86 on Monday. The company has a current ratio of 1.62, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $40.13 billion, a P/E ratio of 80.79, a P/E/G ratio of 1.50 and a beta of 1.03. The business has a fifty day simple moving average of $49.88 and a two-hundred day simple moving average of $47.50. Corning Incorporated has a 12 month low of $30.72 and a 12 month high of $55.33.

Corning (NYSE:GLW) last posted its quarterly earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.01. Corning had a return on equity of 15.10% and a net margin of 3.86%. On average, equities analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, February 28th. Corning’s dividend payout ratio is presently 193.10%.

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.