Corning Integrated (NYSE:GLW – Get Free Report) CEO Wendell P. Weeks bought 82,103 shares of the corporate’s inventory in a transaction on Thursday, August seventh. The shares had been bought at a mean worth of $65.19, for a complete worth of $5,352,294.57. Following the completion of the sale, the chief government officer instantly owned 809,295 shares within the firm, valued at $52,757,941.05. This commerce represents a 9.21% lower of their place. The transaction was disclosed in a authorized submitting with the SEC, which is on the market by way of this hyperlink.

Corning Inventory Up 1.7%

Shares of NYSE:GLW opened at $65.84 on Friday. The corporate has a fast ratio of 0.93, a present ratio of 1.50 and a debt-to-equity ratio of 0.58. Corning Integrated has a 52-week low of $37.31 and a 52-week excessive of $66.50. The inventory’s fifty day easy transferring common is $54.21 and its 200-day easy transferring common is $49.65. The corporate has a market capitalization of $56.40 billion, a P/E ratio of 70.04, a P/E/G ratio of 1.48 and a beta of 1.08.

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Corning (NYSE:GLW – Get Free Report) final issued its quarterly earnings information on Tuesday, July twenty ninth. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. Corning had a return on fairness of 17.27% and a web margin of 5.77%. The enterprise had income of $3.86 billion for the quarter, in comparison with the consensus estimate of $3.84 billion. Throughout the identical interval within the prior yr, the enterprise earned $0.47 earnings per share. As a bunch, equities analysis analysts forecast that Corning Integrated will put up 2.33 earnings per share for the present fiscal yr.

Corning Broadcasts Dividend

The agency additionally lately introduced a quarterly dividend, which can be paid on Monday, September twenty ninth. Traders of report on Friday, August twenty ninth can be given a dividend of $0.28 per share. The ex-dividend date is Friday, August twenty ninth. This represents a $1.12 annualized dividend and a yield of 1.7%. Corning’s dividend payout ratio is 119.15%.

Analyst Upgrades and Downgrades

GLW has been the subject of a number of analysis experiences. Mizuho upped their goal worth on Corning from $63.00 to $74.00 and gave the corporate an “outperform” score in a report on Friday. Wolfe Analysis initiated protection on Corning in a report on Tuesday, July eighth. They issued an “outperform” score on the inventory. Wall Street Zen raised Corning from a “purchase” score to a “strong-buy” score in a report on Saturday, August 2nd. Barclays upped their goal worth on Corning from $52.00 to $65.00 and gave the corporate an “equal weight” score in a report on Wednesday, July thirtieth. Lastly, Argus reissued a “purchase” score and issued a $68.00 goal worth on shares of Corning in a report on Wednesday, July thirtieth. Three funding analysts have rated the inventory with a maintain score, ten have assigned a purchase score and two have assigned a powerful purchase score to the corporate’s inventory. In response to MarketBeat.com, Corning presently has a consensus score of “Average Purchase” and a consensus goal worth of $65.17.

Read Our Latest Report on GLW

Hedge Funds Weigh In On Corning

A number of giant buyers have lately added to or decreased their stakes within the enterprise. Rockefeller Capital Administration L.P. lifted its place in Corning by 7.1% throughout the second quarter. Rockefeller Capital Administration L.P. now owns 414,671 shares of the electronics maker’s inventory value $21,808,000 after shopping for an extra 27,348 shares throughout the interval. Residents Monetary Group Inc. RI lifted its place in Corning by 12.9% throughout the second quarter. Residents Monetary Group Inc. RI now owns 10,242 shares of the electronics maker’s inventory value $539,000 after shopping for an extra 1,167 shares throughout the interval. Avantax Advisory Providers Inc. lifted its place in Corning by 11.5% throughout the second quarter. Avantax Advisory Providers Inc. now owns 149,693 shares of the electronics maker’s inventory value $7,872,000 after shopping for an extra 15,494 shares throughout the interval. Intech Funding Administration LLC lifted its place in Corning by 89.6% throughout the second quarter. Intech Funding Administration LLC now owns 400,282 shares of the electronics maker’s inventory value $21,051,000 after shopping for an extra 189,158 shares throughout the interval. Lastly, Cetera Funding Advisers lifted its place in Corning by 4.8% throughout the second quarter. Cetera Funding Advisers now owns 227,536 shares of the electronics maker’s inventory value $11,966,000 after shopping for an extra 10,435 shares throughout the interval. 69.80% of the inventory is presently owned by hedge funds and different institutional buyers.

Corning Firm Profile

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Corning Integrated engages within the show applied sciences, optical communications, environmental applied sciences, specialty supplies, and life sciences companies in america and internationally. The corporate’s Show Applied sciences section presents glass substrates for flat panel shows, together with liquid crystal shows and natural light-emitting diodes which can be utilized in televisions, pocket book computer systems, desktop displays, tablets, and handheld gadgets.

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