We Are One Seven LLC lifted its position in shares of Corning Incorporated (NYSE:GLW) by 1.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,123 shares of the electronics maker’s stock after buying an additional 322 shares during the quarter. We Are One Seven LLC’s holdings in Corning were worth $1,067,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trustcore Financial Services LLC purchased a new position in shares of Corning during the 1st quarter valued at $30,000. Thor Advisors LLC bought a new stake in Corning in the 1st quarter valued at $35,000. Horan Capital Advisors LLC. bought a new stake in Corning in the 1st quarter valued at $51,000. Gradient Investments LLC increased its holdings in Corning by 1,160.8% in the 2nd quarter. Gradient Investments LLC now owns 1,576 shares of the electronics maker’s stock valued at $52,000 after acquiring an additional 1,451 shares during the last quarter. Finally, Zions Bancorporation N.A. bought a new stake in Corning in the 1st quarter valued at $57,000. Institutional investors own 70.67% of the company’s stock.
A number of analysts have issued reports on the stock. ValuEngine upgraded shares of Zillow Group from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Zacks Investment Research downgraded shares of Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, Bank of America reiterated a “buy” rating and issued a $105.00 price target (up from $100.00) on shares of Zendesk in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $36.55.
Shares of Corning stock traded down $2.45 during trading hours on Tuesday, reaching $31.66. The company’s stock had a trading volume of 9,811,528 shares, compared to its average volume of 3,775,829. The business’s 50 day simple moving average is $32.90. Corning Incorporated has a one year low of $27.67 and a one year high of $36.56. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.36 and a current ratio of 2.08. The stock has a market cap of $26.52 billion, a PE ratio of 17.78, a P/E/G ratio of 1.58 and a beta of 1.20.
Corning (NYSE:GLW) last posted its earnings results on Tuesday, July 30th. The electronics maker reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Corning had a net margin of 18.57% and a return on equity of 15.02%. The firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the previous year, the firm posted $0.38 EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. Research analysts anticipate that Corning Incorporated will post 1.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.53%. Corning’s dividend payout ratio (DPR) is presently 44.94%.
Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment manufactures glass substrates for organic light-emitting diodes and liquid crystal displays used in televisions, notebook computers, and flat panel desktop monitors.
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