14,743 Shares in Corning Incorporated (NYSE:GLW) Bought by iSAM Funds UK Ltd

iSAM Funds UK Ltd bought a new position in Corning Incorporated (NYSE:GLW) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 14,743 shares of the electronics maker’s stock, valued at approximately $701,000.

Other large investors have also made changes to their positions in the company. Barclays PLC increased its holdings in Corning by 8.5% in the 3rd quarter. Barclays PLC now owns 1,892,946 shares of the electronics maker’s stock valued at $85,468,000 after purchasing an additional 148,042 shares in the last quarter. Park Avenue Securities LLC increased its holdings in Corning by 26.5% in the 4th quarter. Park Avenue Securities LLC now owns 9,212 shares of the electronics maker’s stock valued at $438,000 after purchasing an additional 1,927 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Corning by 34.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,994 shares of the electronics maker’s stock valued at $380,000 after purchasing an additional 2,035 shares in the last quarter. Tallon Kerry Patrick acquired a new stake in Corning in the 4th quarter valued at $302,000. Finally, Merit Financial Group LLC increased its holdings in Corning by 24.3% in the 4th quarter. Merit Financial Group LLC now owns 10,910 shares of the electronics maker’s stock valued at $518,000 after purchasing an additional 2,135 shares in the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Stock Down 0.2%

Shares of Corning stock opened at $48.11 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.62 and a debt-to-equity ratio of 0.62. The firm has a market cap of $41.20 billion, a P/E ratio of 82.95, a P/E/G ratio of 1.50 and a beta of 1.09. Corning Incorporated has a fifty-two week low of $35.30 and a fifty-two week high of $55.33. The business has a 50-day moving average price of $44.65 and a 200 day moving average price of $47.50.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 29th. The electronics maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.63 billion. Corning had a return on equity of 15.10% and a net margin of 3.86%. Corning’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 earnings per share. On average, sell-side analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.12 dividend on an annualized basis and a yield of 2.33%. Corning’s payout ratio is currently 215.38%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GLW. Barclays lowered their price target on Corning from $53.00 to $52.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Mizuho set a $52.00 price target on Corning in a report on Tuesday, April 15th. Oppenheimer lowered their target price on Corning from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lowered their target price on Corning from $62.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, HSBC upgraded Corning from a “hold” rating to a “buy” rating and raised their target price for the company from $51.00 to $60.00 in a research note on Thursday, January 30th. 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. Based on data from MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and an average price target of $53.08.

Insider Buying and Selling at Corning

In other Corning news, SVP Michael Alan Bell sold 20,262 shares of Corning stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $44.06, for a total value of $892,743.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John Z. Zhang sold 8,000 shares of Corning stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $46.91, for a total value of $375,280.00. Following the completion of the transaction, the vice president now owns 9,610 shares of the company’s stock, valued at approximately $450,805.10. The trade was a 45.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.

Corning 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.