Economy

Corning Incorporated (GLW) Shares Sold by Meiji Yasuda Life Insurance Co

Corning Incorporated (NYSE:GLW) recently traded as high as $29.34. The Altavista Wealth Management Inc holds 151,567 shares with $3.68 million value, down from 3.68M last quarter. Venturi Wealth Management LLC's holdings in Corning were worth $5,977,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLW. It also reduced its holding in Shopify Inc by 112,712 shares in the quarter, leaving it with 90,495 shares, and cut its stake in Albemarle Corp (NYSE:ALB). BlackRock Inc. now owns 56,841,179 shares of the electronics maker's stock valued at $1,534,712,000 after purchasing an additional 54,041,176 shares during the period. Waldron LP increased its stake in Corning by 72.6% in the first quarter. Ancora Advisors LLC increased its stake in Corning by 12.4% in the fourth quarter.

King Luther Capital Management Corp, which manages about $16.93B and $10.51 billion US Long portfolio, decreased its stake in Hexcel Corp New (NYSE:HXL) by 20,225 shares to 105,565 shares, valued at $5.43 million in 2016Q4, according to the filing. Gotham Asset Management LLC grew its holdings in Corning by 17,844.0% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 163,973 shares of the electronics maker's stock valued at $4,427,000 after acquiring an additional 111,151 shares during the period. Finally, MAI Capital Management increased its holdings in Corning by 0.6% during the 2nd quarter. SG Americas Securities LLC now owns 329,209 shares of the electronics maker's stock valued at $8,889,000 after purchasing an additional 1,510,245 shares during the period. Year to date Corning Incorporated (NYSE:GLW) is 20.93%, -0.20% over the last quarter, and 7.75% for the past six months. The firm has a market capitalization of $26.51 billion, a P/E ratio of 13.11 and a beta of 1.40.

Over the past 50 days, Corning Incorporated stock's -8.77% off of the high and 5.92% removed from the low.

Analysts await Corning Incorporated (NYSE:GLW) to report earnings on October, 24. The company reported $0.50 EPS for the quarter, beating the Zacks' consensus estimate of $0.44 by $0.06. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.54 billion. Corning's revenue for the quarter was up 6.1% compared to the same quarter a year ago. During the same quarter past year, the business posted $0.37 earnings per share. They expect $0.42 earnings per share, 0.00% or $0.00 from last year's $0.42 per share.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.155 per share. This represents a change of 0.58% from the opening. The ex-dividend date of this dividend is Tuesday, August 29th. Corning's dividend payout ratio (DPR) is presently 27.93%. If you are reading this piece of content on another publication, it was stolen and republished in violation of USA and global trademark and copyright laws. The original version of this piece can be viewed at https://weekherald.com/2017/09/16/corning-incorporated-glw-shares-sold-by-meiji-yasuda-life-insurance-co.html. The stock was sold at an average price of $28.61, for a total transaction of $1,376,856.25. Following the completion of the sale, the insider now directly owns 64,129 shares of the company's stock, valued at $1,712,244.30. The sale was disclosed in a legal filing with the SEC, which is available through this link.

In other news, insider Clark S. Kinlin sold 46,763 shares of the business's stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $28.53, for a total value of $1,334,148.39. Insider ownership decreased by a total of 127888 shares, which suggests that GLW's key executives are feeling less optimistic about the outlook for the stock. The disclosure for this sale can be found here. The stock closed the most recent session at $29.35 after seeing 7748601 shares trade hands. The volume of GLW witnessed a shift from 3.85 million shares, based on a 50-day average, to 6.31 million shares. Jefferies Group LLC reaffirmed a "hold" rating and set a $27.50 price objective on shares of Corning in a research report on Friday, July 14th.

Among 18 analysts covering Corning Incorporated (NYSE:GLW), 5 have Buy rating, 2 Sell and 11 Hold. 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. Finally, Vetr raised Corning from a "buy" rating to a "strong-buy" rating and set a $33.69 price objective for the company in a research report on Thursday, July 27th.

Analysts often look at short interest, or the number of shares now being shorted by investors, to aid in their outlook for a particular stock.

The closing price represents the final price that a stock is traded for on a trading day. 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.



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