Jump Financial LLC Has $2.76 Million Position in Corning Incorporated (NYSE:GLW)

Jump Financial LLC increased its position in Corning Incorporated (NYSE:GLW) by 132.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 58,166 shares of the electronics maker’s stock after buying an additional 33,095 shares during the period. Jump Financial LLC’s holdings in Corning were worth $2,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of GLW. Sound Income Strategies LLC lifted its position in shares of Corning by 76.7% during the 4th quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 227 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of Corning during the 4th quarter worth about $25,000. Asset Planning Inc bought a new stake in shares of Corning in the 4th quarter valued at approximately $29,000. Mainstream Capital Management LLC bought a new position in shares of Corning during the 4th quarter worth approximately $35,000. Finally, Rosenberg Matthew Hamilton lifted its holdings in Corning by 202.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analysts Set New Price Targets

GLW has been the topic of several recent analyst reports. StockNews.com downgraded Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Mizuho set a $52.00 price objective on shares of Corning in a research note on Tuesday. Hsbc Global Res upgraded Corning from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. cut their price target on shares of Corning from $62.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Citigroup cut their target price on shares of Corning from $58.00 to $50.00 and set a “buy” rating on the stock in a report on Monday. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and a consensus price target of $53.31.

Corning Trading Up 0.5 %

NYSE GLW opened at $41.50 on Friday. The company has a market cap of $35.55 billion, a PE ratio of 71.55, a PEG ratio of 1.50 and a beta of 1.03. Corning Incorporated has a 12 month low of $30.72 and a 12 month high of $55.33. The stock has a 50 day moving average of $46.63 and a 200-day moving average of $47.67. The company has a current ratio of 1.62, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62.

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

Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, February 28th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Friday, February 28th. Corning’s payout ratio is 193.10%.

Insider Buying and Selling at Corning

In other news, COO Eric S. Musser sold 30,000 shares of Corning stock in a transaction that occurred on Friday, January 31st. The shares were 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 directly owns 152,944 shares in the company, valued at approximately $7,940,852.48. The trade was a 16.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael Alan Bell sold 2,209 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $49.87, for a total value of $110,162.83. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

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.