San Francisco Sentry Investment Group CA lifted its holdings in shares of Corning Incorporated (NYSE:GLW) by 21.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,045 shares of the electronics maker’s stock after buying an additional 3,700 shares during the quarter. San Francisco Sentry Investment Group CA’s holdings in Corning were worth $629,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in GLW. GLG Partners LP acquired a new position in shares of Corning during the 2nd quarter worth approximately $102,000. MPS Loria Financial Planners LLC purchased a new stake in shares of Corning during the second quarter worth approximately $112,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Corning by 241.6% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 3,747 shares of the electronics maker’s stock worth $112,000 after purchasing an additional 2,650 shares in the last quarter. Central Bank & Trust Co. increased its position in shares of Corning by 8.8% during the second quarter. Central Bank & Trust Co. now owns 4,264 shares of the electronics maker’s stock worth $128,000 after purchasing an additional 345 shares in the last quarter. Finally, Harfst & Associates Inc. increased its position in shares of Corning by 44.7% during the second quarter. Harfst & Associates Inc. now owns 4,791 shares of the electronics maker’s stock worth $143,000 after purchasing an additional 1,481 shares in the last quarter. 72.43% of the stock is owned by institutional investors and hedge funds.
Shares of Corning Incorporated (NYSE GLW) traded down $0.54 during trading hours on Friday, reaching $31.85. The company’s stock had a trading volume of 6,243,592 shares, compared to its average volume of 4,448,819. The company has a current ratio of 2.69, a quick ratio of 2.14 and a debt-to-equity ratio of 0.26. The stock has a market cap of $27,679.47, a PE ratio of 18.30, a P/E/G ratio of 2.65 and a beta of 1.33. Corning Incorporated has a 12 month low of $23.52 and a 12 month high of $32.78.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 16th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Wednesday, November 15th. Corning’s payout ratio is currently 26.38%.
Several brokerages recently commented on GLW. Deutsche Bank boosted their price target on Corning from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Oppenheimer reiterated a “hold” rating on shares of Corning in a research report on Wednesday, October 25th. Guggenheim reiterated a “buy” rating and set a $35.00 price target on shares of Corning in a research report on Tuesday, October 24th. Zacks Investment Research upgraded Corning from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, Citigroup boosted their price target on Corning from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $29.28.
In other Corning news, Director Hansel E. Tookes II sold 6,513 shares of the company’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $31.60, for a total value of $205,810.80. Following the completion of the sale, the director now directly owns 88,946 shares in the company, valued at approximately $2,810,693.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Eric S. Musser sold 29,949 shares of the company’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $31.56, for a total value of $945,190.44. Following the completion of the sale, the vice president now owns 49,471 shares of the company’s stock, valued at $1,561,304.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 294,561 shares of company stock valued at $9,254,498. 0.59% of the stock is owned by company insiders.
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Corning Company Profile
Corning Incorporated is engaged in manufacturing specialty glass and ceramics. Its segments include Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, Life Sciences and All Other. The Display Technologies segment manufactures glass substrates for flat panel liquid crystal displays (LCDs).
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