900 Shares in Corning Incorporated (NYSE:GLW) Purchased by VSM Wealth Advisory LLC

VSM Wealth Advisory LLC purchased a new position in Corning Incorporated (NYSE:GLW) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 900 shares of the electronics maker’s stock, valued at approximately $43,000.

Other large investors also recently added to or reduced their stakes in the company. GSA Capital Partners LLP boosted its position in shares of Corning by 2.6% during the third quarter. GSA Capital Partners LLP now owns 10,665 shares of the electronics maker’s stock worth $482,000 after acquiring an additional 274 shares during the last quarter. Empowered Funds LLC lifted its stake in Corning by 2.9% in the 3rd quarter. Empowered Funds LLC now owns 17,777 shares of the electronics maker’s stock worth $803,000 after purchasing an additional 509 shares in the last quarter. Natixis Advisors LLC boosted its holdings in shares of Corning by 10.1% during the 3rd quarter. Natixis Advisors LLC now owns 287,153 shares of the electronics maker’s stock valued at $12,965,000 after purchasing an additional 26,364 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Corning during the third quarter valued at about $106,000. Finally, Caprock Group LLC increased its holdings in shares of Corning by 2.5% in the third quarter. Caprock Group LLC now owns 27,928 shares of the electronics maker’s stock worth $1,261,000 after purchasing an additional 682 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Corning

In other Corning news, COO Eric S. Musser sold 30,000 shares of Corning stock in a transaction on Friday, January 31st. The stock was sold at an average price of $51.92, for a total transaction of $1,557,600.00. Following the completion of the sale, the chief operating officer now directly owns 152,944 shares of the company’s stock, valued at $7,940,852.48. The trade was a 16.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael Alan Bell sold 2,209 shares of the stock in a transaction on Thursday, January 30th. The stock was 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. 0.45% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GLW has been the subject of several research analyst reports. Barclays cut 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. Bank of America raised their target price on shares of Corning from $65.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday. Hsbc Global Res raised shares of Corning from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 30th. HSBC raised shares of Corning from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $51.00 to $60.00 in a research note on Thursday, January 30th. Finally, StockNews.com downgraded shares of Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Four research 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. According to MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average price target of $54.31.

Corning Stock Up 3.3 %

Shares of NYSE:GLW opened at $48.84 on Thursday. The firm has a market capitalization of $41.83 billion, a PE ratio of 84.20, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. The business has a 50 day simple moving average of $49.86 and a two-hundred day simple moving average of $47.62. Corning Incorporated has a 1 year low of $30.72 and a 1 year high of $55.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07.

Corning (NYSE:GLW) last posted its quarterly earnings data 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 return on equity of 15.10% and a net margin of 3.86%. On average, equities analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.29%. The ex-dividend date 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.