Altavista Wealth Management Inc sold 3.53 million shares as Corning Inc (GLW)'s stock rose 5.06%. Old Mutual Global Investors UK Ltd.'s holdings in Corning were worth $781,000 as of its most recent SEC filing. Coconut Grove Bank grew its stake in Corning by 92.8% during the 1st quarter. AXA lifted its holdings in Corning by 7.1% during the 1st quarter. Fool.com's news article titled: "Better Buy: Corning Incorporated vs. Cirrus Logic" with publication date: August 19, 2017 was also an interesting one. Vanguard Group Inc. now owns 61,135,545 shares of the electronics maker's stock worth $1,650,659,000 after buying an additional 326,877 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Corning by 1.8% during the 2nd quarter. The Altavista Wealth Management Inc holds 151,567 shares with $3.68 million value, down from 3.68M 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). 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. Nebraska-based Cls Llc has invested 0% in Corning Incorporated (NYSE:GLW). If you are reading this piece of content on another domain, it was illegally copied and republished in violation of United States & worldwide trademark and copyright law. The correct version of this article can be viewed at https://www.dispatchtribunal.com/2017/09/17/sg-americas-securities-llc-decreases-position-in-corning-incorporated-glw.html. Citigroup maintained Corning Incorporated (NYSE:GLW) on Friday, August 26 with "Buy" rating. Corning Incorporated has a 52 week low of $22.23 and a 52 week high of $32.17. Ingalls & Snyder Llc who had been investing in Corning Inc for a number of months, seems to be less bullish one the $26.37B market cap company. The company has a 50 day moving average of $28.86 and a 200-day moving average of $28.83.
Corning (NYSE:GLW) last posted its earnings results on Wednesday, July 26th. After $0.42 actual earnings per share reported by Corning Incorporated for the previous quarter, Wall Street now forecasts 0.00% EPS growth. The business had revenue of $2.59 billion during the quarter, compared to analysts' expectations of $2.54 billion. Corning had a net margin of 39.35% and a return on equity of 10.90%. The business's revenue for the quarter was up 6.2% compared to the same quarter past year. The percentage of shares being held by the company management was 0.27% while institutional stake was 69.8%.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be issued a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, August 29th.
On a similar note, analysts expect EPS of $0.42 in September 2017 quarter and $0.49 in December 2017 quarter, representing 0% and -2% growth, respectively. Corning's dividend payout ratio is presently 27.93%.
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 SEC, which is available at this hyperlink. Also, Vice Chairman Lawrence D. Mcrae sold 48,125 shares of the company's stock in a transaction on Wednesday, August 30th. Following the completion of the sale, the insider now directly owns 72,039 shares of the company's stock, valued at $2,055,272.67. The disclosure for this sale can be found here. The portion of a company's profit allocated to each outstanding share of common stock was -$5.3 a share in the trailing twelve months.
Several equities analysts have recently weighed in on GLW shares. ValuEngine upgraded shares of Corning from a "hold" rating to a "buy" rating in a report on Friday, June 2nd. Cowen & Co maintained the shares of STLD in report on Wednesday, July 20 with "Outperform" rating. Drexel Hamilton reiterated a "sell" rating and set a $17.50 price objective on shares of Corning in a report on Wednesday, July 26th. Cowen & Co maintained the stock with "Buy" rating in Thursday, August 31 report. Susquehanna Bancshares Inc reissued a "positive" rating on shares of Corning in a research report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of "Hold" and an average price target of $28.21.
Corning Incorporated is engaged in manufacturing specialty glass and ceramics. The Display Technologies segment manufactures glass substrates for flat panel liquid crystal displays (LCDs).
Given what the insider ownership patterns are saying, it makes sense to consider the technicals to see if these pieces of information reach the same conclusion about the outlook for GLW.