Corning Incorporated (GLW) Position Decreased by Community Bank N.A.

Share on StockTwits

Community Bank N.A. reduced its stake in shares of Corning Incorporated (NYSE:GLW) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,527 shares of the electronics maker’s stock after selling 500 shares during the quarter. Community Bank N.A.’s holdings in Corning were worth $227,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Csenge Advisory Group bought a new stake in shares of Corning during the third quarter valued at about $38,000. Cowen Prime Services LLC raised its stake in shares of Corning by 43.5% during the fourth quarter. Cowen Prime Services LLC now owns 1,650 shares of the electronics maker’s stock valued at $50,000 after purchasing an additional 500 shares in the last quarter. TRUE Private Wealth Advisors bought a new stake in shares of Corning during the third quarter valued at about $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in shares of Corning by 711.4% during the third quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,840 shares of the electronics maker’s stock valued at $100,000 after purchasing an additional 2,490 shares in the last quarter. Finally, Trustcore Financial Services LLC raised its stake in shares of Corning by 233.3% during the third quarter. Trustcore Financial Services LLC now owns 3,000 shares of the electronics maker’s stock valued at $106,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 70.64% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. ValuEngine upgraded shares of Corning from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research cut shares of Corning from a “buy” rating to a “hold” rating in a research report on Wednesday, December 12th. Citigroup dropped their price target on shares of Corning from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, October 24th. Finally, UBS Group set a $33.00 price target on shares of Corning and gave the stock a “hold” rating in a research report on Tuesday, October 23rd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $35.50.

In related news, insider David L. Morse sold 30,151 shares of Corning stock in a transaction dated Friday, November 30th. The stock was sold at an average price of $32.16, for a total value of $969,656.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Lawrence D. Mcrae sold 20,000 shares of Corning stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $30.68, for a total value of $613,600.00. Following the completion of the transaction, the insider now directly owns 150,716 shares in the company, valued at approximately $4,623,966.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,308 shares of company stock worth $2,126,766. 0.46% of the stock is owned by company insiders.

Corning stock traded down $0.46 during midday trading on Thursday, hitting $33.07. The company’s stock had a trading volume of 697,358 shares, compared to its average volume of 5,995,899. The company has a current ratio of 2.12, a quick ratio of 1.51 and a debt-to-equity ratio of 0.52. Corning Incorporated has a 12 month low of $26.11 and a 12 month high of $36.56. The stock has a market cap of $26.99 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.87 and a beta of 1.21.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, January 29th. The electronics maker reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Corning had a net margin of 9.44% and a return on equity of 14.21%. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same period in the previous year, the business earned $0.49 earnings per share. Corning’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities analysts predict that Corning Incorporated will post 2.05 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was first published by Ticker Report and is the property of of Ticker Report. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States & international copyright and trademark law. The legal version of this news story can be accessed at https://www.tickerreport.com/banking-finance/4115971/corning-incorporated-glw-position-decreased-by-community-bank-n-a.html.

About Corning

Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials in North America, the Asia Pacific, Europe, and internationally. The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences.

Recommended Story: Marijuana Stocks Investing Considerations

Institutional Ownership by Quarter for Corning (NYSE:GLW)

Receive News & Ratings for Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corning and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Pebblebrook Hotel Trust  Increases Dividend to $0.38 Per Share
Pebblebrook Hotel Trust Increases Dividend to $0.38 Per Share
APN Industria REIT  To Go Ex-Dividend on March 28th
APN Industria REIT To Go Ex-Dividend on March 28th
Volution Group PLC  Announces Dividend of GBX 1.60
Volution Group PLC Announces Dividend of GBX 1.60
Insider Selling: Ambarella Inc  VP Sells 3,700 Shares of Stock
Insider Selling: Ambarella Inc VP Sells 3,700 Shares of Stock
iShares Morningstar Mid-Cap Value ETF  Shares Bought by MML Investors Services LLC
iShares Morningstar Mid-Cap Value ETF Shares Bought by MML Investors Services LLC
Zacks: Analysts Expect Cloudera Inc  Will Announce Earnings of -$0.23 Per Share
Zacks: Analysts Expect Cloudera Inc Will Announce Earnings of -$0.23 Per Share


© 2006-2019 Ticker Report