Corning Incorporated (GLW) Downgraded by Vetr Inc

17 Septembre, 2017, 16:57 | Author: Marc Bacque

More recent Corning Incorporated (NYSE:GLW) news were published by: which released: "Corning retirees plan to host United Way campaign" on September 08, 2017. Old Mutual Global Investors UK Ltd.'s holdings in Corning were worth $781,000 as of its most recent SEC filing. AXA lifted its holdings in Corning by 7.1% during the 1st quarter.

Stock of Corning Incorporated (NYSE:GLW) now have an ABR of 3.00.which is marked on a basic 1 to 5 scale, where 1 stands for a Strong Buy and 5 represents Strong Sell. Pinnacle Financial Partners Inc. acquired a new position in shares of Corning in the second quarter worth $338,000. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Corning by 1.8% during the 2nd quarter. Central Bank & Trust Co. now owns 3,919 shares of the electronics maker's stock valued at $106,000 after acquiring an additional 3,282 shares during the last quarter. It also reduced its holding in Capital Bk Finl Corp (NASDAQ:CBF) by 20,605 shares in the quarter, leaving it with 179,950 shares, and cut its stake in Berkshire Hathaway Inc Del (BRKB). Guggenheim Capital LLC now owns 3,484,076 shares of the company's stock worth $84,558,000 after buying an additional 1,047,336 shares during the last quarter. The institutional investor held 118,110 shares of the telecommunications equipment company at the end of 2016Q4, valued at $2.87M, up from 28,108 at the end of the previous reported quarter. Also published the news titled: "Corning Incorporated (GLW) Ex-Dividend Date Scheduled for August 29, 2017" on August 28, 2017. If you are reading this story on another domain, it was illegally copied and reposted in violation of USA & worldwide copyright law. On Friday, May 19 STEVERSON LEWIS A sold $870,000 worth of Corning Incorporated (NYSE:GLW) or 30,000 shares. Citigroup maintained Corning Incorporated (NYSE:GLW) on Friday, August 26 with "Buy" rating. The firm has a market cap of $26.51 billion, a price-to-earnings ratio of 13.11 and a beta of 1.40. The stock has a 50 day moving average price of $28.86 and a 200 day moving average price of $28.83.

Analysts await Corning Incorporated (NYSE:GLW) to report earnings on October, 24. After $0.42 actual earnings per share reported by Corning Incorporated for the previous quarter, Wall Street now forecasts 0.00% EPS growth. The company had revenue of $2.59 billion during the quarter, compared to analysts' expectations of $2.54 billion. Corning's revenue for the quarter was up 6.1% compared to the same quarter a year ago. The stock declined 0.44% or $0.13 reaching $29.12 per share.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Thursday, August 31st will be issued a $0.155 dividend. The ex-dividend date of this dividend is Friday, February 24th. This represents a $0.62 annualized dividend and a dividend yield of 2.11%. Corning's payout ratio is 27.93%. Also, VP Christine M. Pambianchi sold 33,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 29th.

Stock exchanges work according to the invisible hand of supply and demand, which determines the price where stocks are bought and sold. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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In other news, Vice Chairman Lawrence D. Mcrae sold 48,125 shares of the firm's stock in a transaction that occurred on Wednesday, August 30th. The data from the past twelve months tells a similar story: insiders executed 1 buys and 81 sells, and ownership decreased by a net of 2.51 million shares. Following the completion of the sale, the insider now directly owns 136,079 shares in the company, valued at $3,893,220.19. The disclosure for this sale can be found here. Morse David L sold $898,445 worth of stock or 30,883 shares.

A number of equities research analysts have issued reports on GLW shares. Jefferies Group LLC reiterated a "hold" rating and set a $27.50 price objective on shares of Corning in a report on Friday, July 14th. Deutsche Bank AG raised their target price on shares of Corning from $26.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, January 18th. Drexel Hamilton reiterated a "sell" rating and set a $17.50 price objective on shares of Corning in a report on Wednesday, July 26th. If the published price targets set by Corning Incorporated analysts have any power to influence the stock's share price, the highest price target set for GLW is $35. Susquehanna Bancshares Inc reissued a "positive" rating on shares of Corning in a research report on Thursday, July 13th.

Among 20 analysts covering Praxair (NYSE:PX), 7 have Buy rating, 3 Sell and 10 Hold. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that GLW is a hold, which implies that GLW is expected to perform in line with the market based on prior trading patterns. Corning Incorporated (NYSE:GLW) has risen 53.38% since September 15, 2016 and is uptrending. The Company operates in five segments: Display Technologies, which manufactures glass substrates; Optical Communications, which is engaged in providing optical solutions; Environmental Technologies, which manufactures ceramic substrates and filter products; Specialty Materials, which manufactures products that provide over 150 material formulations for glass, glass ceramics and fluoride crystals, and Life Sciences segment, which is a developer, manufacturer and supplier of scientific laboratory products.

Want to see what other hedge funds are holding GLW?


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